Here Jan Dubaskas, an executive at The IHC Group, an issuer of health insurance products other than individual major medical, talks about what she saw when she went out in the field and spent some time at insurance agency.
No matter how hard we try to learn about our marketplace and keep up on latest trends, the glaring reality is that as an insurance executive, we are not the agents on the ground who are working with consumers to help fit their needs.
During these times of constant change in health care, it is even more important for health insurance companies to stay grounded with advisors and insureds to ensure that we are providing products that fit the needs of this ever-changing marketplace.
Recently, it was my pleasure to visit Paige Mattice’s growing agency in Tempe, Arizona, to spend some time with her advisors talking about the many regulatory changes that are going on at the federal and state level and I was pleased to make the visit.
Much to my chagrin, I walked away with many more lessons than I imparted — which was a strong reminder that those who are on the ground meeting with our insureds are the best teachers of trends in the marketplace as well as identifying needs and opportunities.
Face-to-Face Presentations Matter
Sue Pepper, who’s been with the agency for two years, provided a presentation on the impact of in-person presentations versus phone calls and emails. Ms. Pepper said she was struggling to close some sales and other sales didn’t have the persistency level that she would have expected. When she asked more experienced colleagues for assistance, they all told her the same thing — get out of your house and meet your clients face-to-face.
In the era of technology and blooming call centers, it can be easy to discount the value of face-to-face meetings. However, as Ms. Pepper notes, when she made the change and started scheduling in-person meetings, clients began to ask her many more questions. She realized that health insurance is confusing. and in-person meetings are a great way to help clients understand the products better. These questions and her answers lead clients to greater comfort with the products and her close ratio increased while her persistency levels increased as well.
Each Advisor Markets Differently
Marketing and leads are key to effectively managing and growing a book of business. Many struggle with how to find new, quality leads. Buy leads from vendors? Paige Mattice reminded me that each person has their own network of interests and professional networking. Lead sources can come from hobby groups or professional networking activities.