Showing Your Clients The Value Of An Independent Agent

Working with an independent insurance agent has a lot of benefits, and it’s important that your customers – and potential customers – know about them. You need to show them that independent insurance agents offer value that captive agents cannot. This will prevent them from seeking help from a captive agent, and from searching for quotes on their own. The more that people see the value in working with an independent agent such as yourself, the more they will continue to use your services, and the more likely they will be to bring others on board to use your services. Share the following benefits of working with an independent agent with your customers, so you can help them understand what you bring to the table and why they should consider doing business with you.

take it easy spelled out on blocks.
Take the weight off your customer’s shoulders by comparing all available plans within minutes for them.

Ease

70% of people say they would rather research and compare plans themselves than speak with an agent. They don’t want to be hassled or given the runaround, and they think that, by cutting out an insurance agent, they’ll get a quicker, easier transaction. It’s your job to show your customers how easy it is to do business with you. Highlight the fact that you can compare plans from multiple carriers for them in minutes, without any obligation, and that you’ll take the weight off of their shoulders by saving them time and frustration.

More Choice

Make sure your customers know what it means that you are an independent agent. One of the biggest advantages of working with you is that you can offer more plan choices from multiple insurance companies. Make it clear that you have access to multiple plans to meet their specific financial and medical needs, and that you can get them the most competitive prices. Show them how you are able to offer an extensive list of comprehensive coverage options, affordable prices, and possibly even discounts that wouldn’t be available to them if they didn’t work with an independent agent. 

Personalized Servicetwo women sitting at the end of a desk with one in a business suit pointing at a laptop screen

Something you can offer your customers that other agents cannot is personalized service and unbiased advice. You work for your customers and not the insurance carriers, and can advise them to make the best choices based on their needs. Show your customers that you go the extra mile to truly understand their needs. Learn their names, treat them like a person, and thank them for their service. Customers might think that most agents just want to make a quick buck, but if you provide them with a more personalized approach, you’ll have a customer for life, and more referrals so you can keep growing your business.

Education

Insurance jargon is not easy to understand, but, as an insurance agent, you have the benefit of being educated on the subject. Let your customers know that you can thoroughly explain to them  exactly how their coverage works, that you can help them with the claims process, and that you can provide strategic advice all along the way. 

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Independent agents offer peace of mind by offering 24/7 assistance.

Peace Of Mind

Aside from convenience, the next most important thing to customers is peace of mind – they want to know that they’re working with the best agent and that they’re getting the best plan possible. You can provide this peace of mind by being there for them whenever they need help and by providing the best customer service possible. Tell them – and show them – that you are there to help 24/7, and that you are accessible through multiple channels. But also show them that you won’t overuse their contact information or harass them! Anytime they need help, make sure you are there for them. After all, without your customers, you wouldn’t have a business. Make them your number one priority, so you can keep your current customers and also gain new ones.

5 Mistakes Medicare Agents Make

A good agent knows that they can only succeed with the help of their customers. Customers look to agents for help finding a plan that meets their needs without breaking the bank, and that is what you aim to do. But your work doesn’t stop there: you need to be constantly learning and educating, as well as connecting with your clients. Here are 5 costly mistakes to avoid, along with tips to keep you at the top of your game.

picture of caucasian hands on a laptop keyboard with "never stop learning" on the screen
It is important to never stop learning because Medicare is always evolving, and you need to be able to provide accurate information to your customers.

1. You Stop Learning/Training

When you’re an agent, there is no such thing as knowing too much about a product, and that includes Medicare. Medicare is always evolving, and you need to be able to provide accurate information to your customers. Plans can change, or even disappear, while new ones emerge. For example, Plan F, High-Deductible Plan F, and Plan C all disappeared this year, while High-Deductible Plan G was introduced to replace them. If you do not keep on top of information like this, then you won’t be able to properly sell your product. Work towards becoming an expert in your field by constantly learning with online courses and training webinars.

Even when you do become an expert in this field, you still need to keep up with company notices. If there are any changes such as rate increases, then you need to notify your customers on how they will be impacted.

2. Failing To Educate Your Customers

Your job is to help customers completely understand their insurance plan. The whole process of choosing and signing up for a plan can be confusing, so explain everything  as simply as you can. Go over what is covered, what is not, and how Medicare Supplement Plans work with Original Medicare. Don’t assume they know as much about everything as you do! The more you educate them on how the system works, the more likely they will be to spot an issue on a bill or handle a problem on their own. Educated customers are happy customers –  ones who will continue to use your services as well as refer you to others.

3. Not Following The Rules

caucasian man writing "know the rules" on a piece of paper pinned against the wall.

If you do not follow the rules that the CMS has set for agents, then you could lose your license to sell Medicare Supplement Plans. The CMS is very serious about monitoring agents and will monitor agents to make sure that they are being helpful to Medicare customers and not taking advantage of anyone. Breaking their rules could even mean facing jail time.

4. Not Knowing Guidelines 

CMS is strict about agents complying with rules and regulations, and so are the  carriers you work with. Carriers have additional guidelines that you have to follow, and if you fail to comply, then you can lose your business with them. Make sure you stay on top of the guidelines of all the carriers you work with.

green price tag with money symbol on it.
If you focus too much on price, and not your customers’ needs, you could end up losing sales.

5. You Focus Too Much On Price

If you focus too much on price, and not your customers’ needs, you could end up losing sales. Sell based on value, not price. Teach your customers the value of a Medicare Supplement Plan, and ask questions about what they are looking for. Ask questions and answer any of theirs that may come up. And always check on your customers to make sure they are happy with their plan, or if they might be interested in finding a different Supplement Plan.

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