Broker blog

This is such a simple idea that I don’t want to clutter it up with a lot of words. So here are just a few quick points that should help you apply it to your business:

I recently started doing crossword puzzles. They can be challenging and will exercise your mental muscle.  When evaluating the clues, you have to think outside the box as the answers are often not as obvious as you’d think. Many times you need to complete sections around the most difficult words so the letters help complete the picture. Completed words lead to other words. 

We all learned about the 3 Rs in grade school (two of which, ironically, don’t begin with the letter R). And those of us who took business classes in college learned about the 4 Ps of marketing (product, place, price, promotion). In this article, I’ll introduce a new success strategy for agents and brokers: the 5 Cs of insurance sales. 

If I’ve heard it once, I’ve heard it a thousand times: “This is a great product.

“Selling just medical insurance to a group should earn an 80% retention rate.  Sell just two more lines of business and it jumps to 93%!”

I’ve quoted this health insurance sales statistic for more than a dozen years. The source is long gone, but I haven’t heard it refuted in all that time, so I’ll still quote it (if you have different experience, please comment below). 

As a busy employee benefits consultant, do you have time to talk with multiple vendors about product details? Probably not.

However, is it important to your business? Yes. Do you need to find time to learn about new ideas and solutions to meet the challenges you and your customers face? My guess is the answer is, “Absolutely!” You likely consider that to be a good investment of your time. 

So how can you quickly determine if a vendor offers a true solution? Based on my experience, below are 4 tips to efficiently learn about new vendor solutions, products, ideas…

Trying to sell health insurance is a tough job. Here’s why: