During any stage of the sales process it’s the actor not the script! Execution. Presenting to the client. You have completed the first meeting. You have completed your initial analysis for the purpose of generating more questions. You have interviewed the client.
ExecutionPresenting to the client
You must bring forward the opportunities from Section 2 as well as the answers to the questions generated as requested in Sections 3 and 4.
Discuss and document the opportunity to help the client based on your interview and other empirical data you have.
What documents will you show the customer to prove your point? Be specific – provide copies if possible. For instance, if you find they do not have an ERISA-required wrap document, you may show them an article that explains the need for one and perhaps a sample plan.
Next you must explain the benefit and emotionally involve the client. Specifically, how will you make the client ecstatic about your new idea and simultaneously blame their current broker for not implementing or advising them of your idea, observation or comments earlier? End result: will they wonder what their current agent is doing???
You must come up with a non-insurance related analogy to make your point. How can you get them to relate to what you are saying? For example, let’s say your idea was to implement an HRA, self insure the deductible and implement a MERP. Your analogy may be, “If you reviewed your cell phone bill and found that you were paying for twice as many minutes as you were using, wouldn’t you select a new plan?” Of course they would, so next you would say, “Well, if you are paying for a $500 deductible and only 20% of your participants are going above this, should you select a new plan?”
You must come up with possible objections and how you will handle them. For example, utilizing the HRA example above, you might hear, “Well we do not want to take any risk!” Then you must formulate your answers.Collective Wisdom
How do we quantify the benefit?
How to we gain conviction
How do we make an impression
Concise and Succinct – ms. Georgia
What are the five steps
How do you create desire
Meat on the bone
What is most important after confidence
An example of tenacity
Walk through like at the airport and eliminates the possibility someone will get sick?Features and principals
We must use analogies
What you don’t know you don’t know
We will not be surprised but the client will
We are going to show them the printout from our magical calculatorGoal
TwoHow many Benefit Broker’s can access a carrier at the same time?
Cost Containment initiatives
Long term strategy
All of the aboveBased on what you know, you should choose a broker for their?
Identifying value added services and expertiseBased on the last three slides what is best way to choose a broker?
Tim Thomas – Assistant Vice President of Employee Benefits
Jeff Wittig – Senior Vice President of Employee Benefits
Where the premium dollars go…
Based on 2006 financial filing with the NYS DOI on aggregate premium revenue collected
by more than 20 insurers. Percentages have been rounded to the nearest whole number.
Percentage of the Top Spenders by Age Group
The Empire State Data Center Population Estimate Program, accessed October 2007
Figures based on a blended average taking into account membership diagnoses from
Rochester HMO, CNY PPPO and Indemnity, Utica PPO and Indemnity and Univera HMO population
Health care spending vs. inflation
Percentage change compared with the previous year
Source: Kaiser Family Foundation, using National Health Expenditure data from CMS
coverage among adults
coverage among adults
Source: U.S. Census Bureau
How can we help?
What did the customer say – worded as positively as possible.
What Documents did you review
“We only review our experience at renewal.” “We do not review during the policy term.”
We reviewed a copy of the last renewal.
Based on what the customer said and what we reviewed – what do we recommend?
What documents do we show the customer to back up or recommendations or claims?
From your strategy worksheet you use your plan to discuss your recommendationsSetting up the Final Presentation
Coaches and Wellness by Choice.
A FOUNDATION OF THE CUSTOMERS WORDS WITH RECOMMENDATIONS TO MEET THEIR OBJECTIVES AND GOALS
To collect data for a survey
To get the prospect talking
To give us perspectiveWhy do we sometimes ask questions before we make our point?
You have wellness experience
You understand exactly what they have and have not done
They trust youThis slide will only work, relative to creating desire if ?
How are claims trending?
What is driving claims costs?
How many high claimants?
How does this affect budget?
Research cause of increasing costs
Often due to large claimant (s) and not overall increased admissions (compare number of admissions to previous year)
Plan Design Changes
Implement or increase inpatient co-pay
Apply deductible to inpatient stays
Make sure there is incentive to use network provider
Make sure the plan includes pre-certification
Make sure the carrier has a utilization and case management program for non-routine care
Consider disease management
Implement Health Risk Assessment (HRA) to identify unknown high risk situations and possible large claims BEFORE they occur
Incorporate HRA with wellness program to keep healthy people healthy and work to improve high risk situations
Just identifying one possible large claim can save tens of thousands of future claim dollars
What if analysis
How do you read people
What is the next step?
How does that align with your qualification?
Understanding how you are leaving it – are you sure?Closing
Painting mental pictures
All of the aboveHow do you create desire at your final presentation?
Having the best price
Having the best program
Understand what the client is thinkingThe most important thing in getting an order is to?
Collect all information
Review information and finalize list of questions
Interview Client– Seek to understand
Garner opportunties from doc review and client interview – Collective wisdom – Magic calculator
Set up final presentation using the client’s own words as your foundation
Do not alienate the client – alienate “Bob” – your challenge!