Prospecting for Group Health

[ABC]

This time of year is always the rough.

Companies just got done with year end and it looks bad and has for the last 4 years.

Getting some traction with blue collar but there expectations on savings is not realistic. I am seeing a a lot of limited benefit plans in the manufacturing industries. A couple of them I don't think are even legal anymore.

It's almost like I should be running a way from these type of industries. Then on the flip side there is not a lot of competition going after them.

Anyone have an SIC code that is Easy?

 

[jmarkk1]

I don't know of any easy groups.

When you prospect for group health do you call or stop by and talk to owner?

I'm not sure if it would work, but I think there could be a lot of success by going out and becoming AOR for group if they have poor service.

 

[ABC]

I don't know of any easy groups.

When you prospect for group health do you call or stop by and talk to owner?

I'm not sure if it would work, but I think there could be a lot of success by going out and becoming AOR for group if they have poor service.

I am meeting with the groups decision makers.

When I say easy I guess I should clarify.
Employer is paying high % of employee premium so participation is not a problem.
The group does not have 1/3 of the population with max loaded conditions.
The group is going to be in business the next 6 months.

You know the little things

 

[somarco]

Sounds like you are describing tech, engineering, architect firms.

Do you speak geek?

 

[Josh]

What size group do you typically go after?

 

[jmarkk1]

I am meeting with the groups decision makers.

When I say easy I guess I should clarify.
Employer is paying high % of employee premium so participation is not a problem.
The group does not have 1/3 of the population with max loaded conditions.
The group is going to be in business the next 6 months.

You know the little things

I'm not sure you can just "pick" those types of groups, but I'm sure there are industries that have healthier people, etc.

In regards to speaking with decision maker, what methods do you use to not only talk with them but also to actually win their confidence in what you can do?

I've found that it's very difficult to "win" their confidence without becoming their AOR first. The reason being, as their AOR you can get access to their info and start shopping w/current carrier and then shop other companies. Most of the time if the group has a rate increase, I've not found a great deal of savings to switch. So, they may have decent coverage, etc., and they'll just stick with current plan and broker even after doing all that work...unless you can be AOR.

 

[ABC]

I am chasing the 15-49 life groups.
Avg group around 20 lives


Mark,
I sit down with the owner and discuss options.

I pick up clients by either saving them money or offering a much higher level of service.

On the group benefit side there are no independent brokers left in my city. There are about a dozen large agencies. These large brokers don't care about these group under 50 after the sale.

Hey I would love to walk into every client and get an AOR but sometimes you have to work and earn the client. Don't get me wrong I did pick up an AOR last month on ok case.

 

[DS4]

What size group do you typically go after?

Those with money.........

 

[TwiLight]

I am chasing the 15-49 life groups.
Avg group around 20 lives


Mark,
I sit down with the owner and discuss options.

I pick up clients by either saving them money or offering a much higher level of service.

On the group benefit side there are no independent brokers left in my city. There are about a dozen large agencies. These large brokers don't care about these group under 50 after the sale.

Hey I would love to walk into every client and get an AOR but sometimes you have to work and earn the client. Don't get me wrong I did pick up an AOR last month on ok case.

Have you thought of working with a Payroll company to offer your products?

PM me or visit our new distribution arm at Empire Networking, Prospecting is quite easy and we pay you to do it. I have more detail on the offers page on the forum.

 

[jmarkk1]

I am chasing the 15-49 life groups.
Avg group around 20 lives


Mark,
I sit down with the owner and discuss options.

I pick up clients by either saving them money or offering a much higher level of service.

On the group benefit side there are no independent brokers left in my city. There are about a dozen large agencies. These large brokers don't care about these group under 50 after the sale.

Hey I would love to walk into every client and get an AOR but sometimes you have to work and earn the client. Don't get me wrong I did pick up an AOR last month on ok case.

Do you use a certain process when doing this? Meaning...do you send a letter, then phone call/stop by office, then make appointment?

Also, do you find it being easier to work with a group that has existing benefits vs. a group that doesn't have anything in place?