Introduction
Private exchanges are not a silver bullet to reduce costs
His firm’s private exchange, Lawley Marketplace, runs on technology from private exchange provider Liazon. “It’s a different budgeting process that what you normally have,” he finished.
Success comes from a positive mindset
“You have to believe in yourself. But surround yourself with people whose goals and objectives are the same,” he said. “Little things separate good teams from great teams. It’s the same in business.”
The way to sell technology is changing
“It’s a challenge for all firms, especially mid- and small-market to provide the right infrastructure, technology and education to have that work with clients,” he said. “[Clients and employees] didn’t know what questions to ask.”
Employers are demanding more from their broker for free
“It is harder and harder, you need more productivity out of your salesforce,” he said.
Student loan debt is creating opportunity for advisers
“This market is set to grow and you can be in the beginning,” Chris Walters, CEO of GradFin, said to a room of brokers. “This is a new thing you can talk to clients about.” His company’s biggest client is retailer Urban Outfitters, but they have RFPs with a few companies in the Fortune 50.
Strong, year-round communication can move the bar on benefit participation
LinkedIn can increase sales
“It takes away the stigma of the cold call,” she explained. “You are taking away that cold introduction, even some of that discovery call, …. When you develop a soft relationship by seeing their profile.”
Social media builds sales connections
“We want to be of as thought leaders and someone that brings value,” he said.
Innovation in benefits should be focused on the consumer
“It can’t be internally driven … internal is incremental,” he said. “Real innovation happens with the end consumer in mind. It happens with every company is truly innovating and making a difference, their focus is on the customer.”
Private benefit exchanges continue to evolve
“Technology based on information to help employees not only understand all of their options but also give them education on what might work for [them] and allows them to pick something meaningful,” she explained.