Over the years, brokers have convinced themselves that large buyers value processes, and many have embraced the nebulous term “Value-Added Services” to translate their outcomes. Newsflash: Buyers today aren’t interested in features or processes. They want to know how you’re going to help them improve their bottom line and reduce their financial leakage. So here’s […]
Every sophisticated middle and upper-middle market C-Suite buyer is now assessing their business advisors and providers with one question in mind: “How has this relationship helped us achieve our business goals?” Many benefits brokers find it difficult to answer this question without referring to the insurance program. Why? Because beyond measuring PEPY/PEPM metrics or comparing […]
For years, Group Benefits Brokers have sought the best way to reduce client costs through policy changes, coverage comparisons, program options, specialized services, and even shifting premiums to employees. But… None of these options get to the heart of the matter. They’re all VARIABLES in the cost of the commodity. When you go this route, […]
Fact: There is no correlation between your commission income and the correct amount of revenue you should charge. The commission is merely what an insurance carrier is willing to pay you for the placement of the business, NOT what you’re really worth to the client. Your worth as a broker isn’t pegged to your income […]
Here are the facts ladies and gentlemen: Your largest prospects are no longer interested in hearing about your offerings… they want to know what’s in it for them. So, get to the point quicker. The only way to effectively do this is to translate your business solutions onto their financial results and get out of […]
Total Cost of Risk (TCOR) is a critical tool for successful brokers. But, unless it is continually improved, it eventually becomes a meaningless acronym or sales trick. Beware of substitutes and inferior models.