To work profitably with PEOs, follow these tips:
Study the PEO industry and its clients. First and foremost, insurance agents need to understand the PEO business and the specific PEOs they want to target. Visit the NAPEO website, www.napeo.org, to find a list of PEOs by state and name along with information on the industry and its key issues.
When targeting a PEO, learn about that company’s client mix–such as the prevalence of businesses with white-collar or with blue-collar workers or businesses in a specific industry niche. PEOs are selective about their clients and seek those interested in offering their employees good benefits and strong HR management.
Increasingly, PEOs market the importance of benefits to businesses interested in investing in their human capital. Most of these businesses want to build a rich selection of benefit options, so there is great potential for agents to offer a variety of insurance products through their relationships with PEOs.