- New business prospecting: Providing access to additional products and services via existing benefit offerings is a great way to grow new lines of business. For example, bundling dental and life insurance into an existing benefits plan allows business owners to create a stronger package that employees are incentivized to participate in and more likely to value.
- Business retention: Reminding clients there are additional products and services available at reasonable costs is a great way to make them happy — and happy customers stay with their agents. Remember to go beyond the more “common” value-adds. For instance, an employer might identify vision insurance as a “nice to have” feature and not even consider the possibility of a flexible spending account option. Brokers who are at-the-ready with available solutions clients may not be aware of can significantly increase their value as a trusted service provider.
- Personalized service: Today’s adviser works in a world where customized service reigns supreme. This can include identifying personalized value-adds such as chiropractic and acupuncture options for employers and their workers. Working with a provider with a built-in perks program, where employees receive regular low-cost discounts to entertainment, local attractions and retailers, is a great way to personalize each and every benefit option. It also delights clients and their employees with different types of unexpected value-adds.
Benefits Think How to harness the power of value-added benefits
Published Updated
4 Min Read
Ron Goldstein
President & CEO
Ron Goldstein, CLU, is president and CEO of CHOICE Administrators, which provides health and ancillary insurance options and provider access to small businesses and their employees. He also created … Read full bio
