You’re Invited: Blue Star Training
Blue Star Benefits Individual Policy Training
Blue Star Benefits will be holding complimentary Blue Star training to help boost your knowledge of our services and the industry. This event is perfect for new brokers or those who could use a quick refresher. Q&A will follow training. Reserve your spot today, space is limited:
Thursday, August 23rd 2pm-4pm
It is our goal at Blue Star Benefits to help you increase your book of business. What easier way to do so than to take over agent of record on existing group policies? We are here to help!
The Agent of Record, also called Broker of Record, is the agent recognized by the insurance company to service a specific client’s business and receive the commission compensation for doing so. Throughout prospecting you will inevitably meet potential clients who already have policies with which they are pleased; however, they may not receive the service they desire from their existing agent. In many instances, the policy may have been written directly with the carrier and the only help the client receives is from a toll free operator.
Begin by asking your prospective client the following questions……. “Does your agent”…
Assist you with adding new employees or terminating employees from your plan?
Help you with claim problems?
Answer employees’ questions about how their plan works?
Is the current plan design fulfilling their benefit needs?
If they answer “no” to any of these important questions, simply reply with an explanation of how you can offer them these services and many more with just a simple signature. As our agent, you can be confident that Blue Star Benefits will be your support as you offer these services to your clients.
All you need to do to become the Agent of Record is have the group administrator copy the appropriate letter to their company letterhead and sign. We have template letters for all carriers that we can provide to you with your agent information. As soon as you receive the signed letter, fax it to our office to the attention of Blue Support at 913-647-1007. You will be recognized as the new agent first of the month following 30 days after the receipt of the letter; therefore, it is very important to fax the signed letter immediately.
After we receive confirmation from the carrier that you have been named as the Agent of Record, we will have access to their current rates and plan design that will allow you to service the group accordingly. If the group is looking to make a change, we will have all of the information we need to shop around. You can also discuss adding other lines of coverage with your client like dental, life, disability & vision. It may take at least 60 days for you to start receiving commission.
For any questions or carrier specific template letters, please e-mail: support@bsbkc.com
This is for group only, you cannot take Agent of Record over individual policies.
Also known as an HSA, a Health Savings Account is paired with a Qualified High Deductible Health Insurance plan to allow a member to pay qualified medical expenses with pre-tax dollars. In order to be a Qualified High Deductible Insurance plan, each year the government determines a minimum deductible for individuals and families. The plan does not offer copayments; rather, medical claims will be applied to the member’s deductible. Certain claims, such as pharmaceutical, may be subject to a copayment after the deductible has been met.
Setting Goals Growth is good. Organized growth is better. As you develop your style and knowledge of our products you may find markets which are quite profitable to you. Until then, let’s have a fall back plan until you need to tell people that you’ll call them back next week because you have so much business.
Attend Agent Orientation.
Meet the members of our team and learn how each one can support you.
Familiarize yourself with the plan designs and get appointed through carriers.
Sell the individual products (to be able to support group you must be proficient with individual).
Approach the Client.
Selecting the appropriate product.
Taking it through underwriting.
Supporting the client with claims and enrolling in additional lines of coverage.
Sell the group products to small groups (this will build your confidence to approach large groups).
Approaching the Decision Maker and building a relationship (joint sales may be beneficial while learning).
Identifying plan with current agent and policy.
Take Agent of Record letter or apply for alternative coverage.
Congratulations! You can now sell group products to individual, small and large groups alike.
Perhaps you will open an additional line of business. Perhaps they will refer additional clients to you. Perhaps another broker will approach them. Obviously a high level of professionalism is paramount but other features can augment a client’s experience.
Help them complete claims with the insurance company for benefits they feel they are entitled to. Some medical expenses will require pre-certification by the insurance company, it’s just important that your client’s doctor check with the insurance company for questionable procedures. Claims will often be responded to in an explanation of benefits which is the insurance company’s official response to claims.
Call them at renewal time and make sure they are happy with their policy.
Learn about changes in their lives which might make changing policies financially beneficial.
Once they have signed with you on a policy, try and sell additional lines of coverage. Increased lines of coverage improves retention of clients because then you become a reference point for their financial needs If you see the opportunity for a relationship between two of your clients give a polite mention (the longer they are in business, the longer they can be your clients)
Distribute satisfaction surveys (or we can) to find out what their happy with and what additional needs they have. With a free google account, on our website, we hav ea form you can send and get the reply for.
Managing your client’s needs is an art, however, remember that the more lines of business your client files through you the more likely it is you will retain them as a client.
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