Practice management

BenefitMall has revamped the company's website, adding resources and information to assist brokers. Changes include an improved home page that provides quicker access to tools that can help brokers more effectively manage their businesses.

Hundreds of facts and statistics have been compiled from numerous industry reports to produce the first Long-Term Care Insurance Almanac and Book of Facts. The guide, produced by the American Association for Long-Term Care Insurance, will help financial and insurance professionals address the increasing number of questions raised by prospective clients.

Last month we shared the first half of a case study involving Beverly Beattie of Selden Beattie Benefit Advisors. In that column we talked about how we jointly facilitated a benefits strategic planning session with a Selden Beattie client. We shared some background about the client and their relationship with Selden Beattie. We then discussed how Beattie's approach to client interaction has become much more strategic. In fact, that strategic approach is central to all of her firm's interaction with existing clients and has become a focal point of much of its marketing outreach and prospecting initiatives.

We all have inherent strengths and weaknesses. This is true in every aspect of life, and is often most obvious when it comes to our careers. The biggest problem with weaknesses at work is that we are hardwired to try and overcome them, and this isn't always the best thing to do. Some weaknesses can and should be addressed and worked on. For example, if you are rarely on time for appointments, success in any field will most likely be difficult. This isn't an inherent weakness. You don't need to 'go against the grain' of who you are as a person to overcome chronic lateness.

Stop working harder at sales. Instead, turn on your computer. When the dots are properly connected, data can open a whole new world of selling for you - a smarter way. Once you get over the paper tiger of scary data, you'll discover a new method of locating and working prospects that you never dreamed of before. You'll make more money with this technique.

One of my hobbies is searching the Internet for sales and marketing ideas. In this quest I look at virtually every industry imaginable.

Adam McDonough wants to make one thing clear: "Our title is the Insurance Industry Charitable Foundation, it's not the Property & Casualty Insurance Industry Charitable Foundation," says the head of IICF's Western Division development committee. Around for more than 15 years, the nonprofit organization has a solid representation among P&C firms that volunteer their time and give away about $1 million a year to charitable efforts. McDonough, president and CEO of Lockton, San Francisco, spoke with EBA about IICF's outreach to bring more life and health agents into the fold.

One skill that epitomizes the successful benefit adviser is selling. From the dollar-and-cents results to the art of persuasion, benefit advisers understand the sales process. So why not use that skill to assist human resource professionals in selling their C-suite on a corporate wellness program?

Our industry is in a state of massive flux. With regulatory and economic challenges constantly bearing down, agency leaders and advisers are anxiously searching for solutions to current problems as well as those that are swiftly approaching.

Data collected by the National Association of Insurance Commissioners suggest that average consumer rebates would have been more than 60% lower if agent and broker commissions were excluded from medical loss ratio calculations in 2010.

Employee Benefit Adviser magazine is now accepting nominations for four annual awards: Employee Benefit Adviser of the Year Health Plan Adviser of the Year Retirement Plan Adviser of the Year Voluntary Benefits Adviser of the Year

Leading employee benefit law practitioners willing to act as mediators or expert witnesses in legal disputes can now be found by logging onto The American College of Employee Benefits Counsel’s website.

Last week American General Benefit Solutions (Benefit Solutions), a business unit of American General Life Companies, unveiled a series of informative video presentations for its most popular plans to help agents promote its extensive line of employer-funded and employee-paid insurance products.

This month I thought I'd deviate from my normal approach and follow up on a previous column using a case study approach.

As I am writing this, my two-year-old is smacking my leg, trying to crawl onto my lap and attempting to commandeer the keyboard. All of these "adorable" antics make it difficult for me to work, type, or even think.

Iwould rather be poked in the eye with a sharp stick than sit through a humdrum and aimless sales presentation that goes nowhere. What needless pain that is. There is something to say for sales momentum and pursuing a goal in everything you say and do.

For the benefit professional who hates making cold calls or following up on direct mail, networking can be the next best alternative. But, like any marketing strategy - and yes, marketing is necessary - networking requires consistency of action over a period of time. Too many benefit professionals join a local Chamber of Commerce, go to one or two events and fail to generate even one appointment and then never return, believing that networking is a waste of time and energy.

Two new benefit firms have been accepted into the Benefit Advisor Network, expanding the group to 40 member agencies nationwide. The newest members are DeWitt Stern Planning Services of New York City and Gregory & Appel, Inc. in Indianapolis.

Here’s a roundup of recent staff changes in the industry.

Experience with the health insurance exchanges in Massachusetts and Utah suggest these reform mechanisms will retain a strong need for brokers to provide buyers with market education and guidance.