Group healthcare is one market that is ripe with potential for selling ancillary insurance products because employers are often looking for added benefits to provide for their employees. Ancillary insurance products refer to anything on top of standard health insurance – dental, vision, and life insurance, for example.
Selling these to your group clients is a little different than selling the initial health benefits, however. Understanding the ancillary products you’re offering and how they are beneficial to employers is important to providing your clients with needed coverage, while also growing your business.
Why Sell Ancillary Products to Group Clients
Selling ancillary insurance products is one of the best ways to do more business and strengthen your relationships with clients. It’s not always easy, but it will be great for your business every time.
Think of it this way, the more business you do, the more money you make. That’s one reason right there. But if you’re looking a little deeper, selling ancillary products also helps you to retain your clients for longer and find new potential clients that may not have been open to you without the additional offering. First step is building on your relationship. With mutual trust between you and your clients, they will recognize that you have their best interest in mind and keep returning to you.
Ancillary products are also great for the employers you serve. Ancillary insurance is helpful to employers who are looking for ways to increase their employee retention and lower their medical premiums.
Many people searching for jobs want more than just health insurance in the benefits package. They want the ancillary insurance that supplements what they’re not getting from their health insurance. Employees with better benefits are more likely to be happy with a company and stay longer. Also, when a group is able to bundle their insurance, they have more of a chance to save money on their premiums, among other possible incentives. Plus, it’s easier for the groups when all of their insurance is coming from the same place.
Tips for Selling Ancillary Products to Groups
Ancillary insurance is easy to add on to healthcare coverage for groups who know they already want further coverage, like dental or vision insurance. Some employers may take a little convincing, though. Focusing on your relationship with your client is going to be your first step to selling them ancillary insurance. You’ve already sold them health insurance, so you’re already ahead of the game. A good relationship and a personalized experience will make your clients more willing to work with you.
Employers want to know you have their best interest at heart, but also don’t really want to be pitched to at length. Being genuine, knowledgeable, and concise will go a long way with group insurance. Understand your client’s business and what their needs are.
When selling anything, it’s important to solve a problem. You’re the expert here and your client’s resource on all things insurance. Health insurance does not cover every aspect of the employees’ medical needs. So, filling the gaps in coverage is one problem you can solve with ancillary products.
It’s also worth noting that not every business knows about the benefits of offering their employees insurance outside of normal healthcare coverage. This is a spot where knowing your clients and understanding their problems comes in. You can educate them and tell them how ancillary insurance products can be the best thing for their business and employees.
Employers is one of the best markets for selling ancillary insurance products since they provide so many benefits. Plus, in terms of your business, the advantages of offering ancillary products far outweigh any disadvantages. You will build lasting relationships with your existing clients by providing them with excellent service and coverage, and you will have even more opportunities to find new clients.
AgentLink is here to help you provide the best service to your clients. If you want more information on selling ancillary products to employers download our guide here.
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