Insurance Agent Forum

[RTD19701]

Hello to all,

I have a question for the board and any input would be helpful. I am a licensed P&C, L&H agent. I have primarily concentrated on P&C but am moving to life and health for various reasons.
I have an opportunity to present a group plan to a very large company as a RVP for this company has asked me for advice and to see if I had any contacts in group health care.
What would be my best path at this point. Get appointed with Blue Cross, Assuarant, or any other major company and try and go from there, or refer it to a broker.
How much servicing is there if I was able to sell a BX product. Doesn't BC/BS have a whole department for servicing?
I am looking for some constructive advice here and not to get blasted out of the water.
Thanks in advance.

Tim

[somarco]

Many carriers use single case agreements for group, especially large group. You can get appointed when the case sells unless there is a prohibition in your state from offering a proposal for a carrier where you are not appointed.

This begs the question, how large is the group? If it is more than a few hundred lives and you have never written one that size before you are probably going to be outgunned. There are quite a few variables to consider, and data that must be collected and reviewed by underwriters before you can even get a quote, much less one that is competitive.

Large groups are sometimes sold using the good ole boy connections but you also need to know what you are doing. Otherwise you and your RVP buddy might find yourselves on the short end of the stick.

The best advice I can offer at this time is to team up with a broker who knows the large case market and can handle it for you then give you a cut.

Don't expect to get wealthy. Most large cases now comp you on a per capita basis.

[RTD19701]

Thanks for the advice.

Tim