Does Your General Agency Offer You Enough Product Choices?

A little while back, we published a blog post that posed the following question: is your general agency meeting your needs? Our goal was to encourage brokers to think about the general agency's role in helping them serve their customers. We want to continue that line of thinking by discussing product choices.

It has been our experience that benefits brokers ultimately begin working with a general agency in order to gain access to more products. If that sounds like your story, we sincerely hope you find what you're looking for at BenefitMall. We work with more than a hundred carriers to offer one of the most comprehensive selections of products in the industry.

The main question for this post is whether your current general agency is offering you enough choices. That is assuming you work with a general agency. If not, we invite you to learn more about what we offer.

Products Are Your Business

Product choices are important for the simple fact that the products are your business. Your primary mission is to introduce your clients to products they can add to their benefits packages. And as you know, modern benefits packages do not necessarily stop at medical plans. Today's employers are looking for complete benefits packages that go beyond medical plans to also include non-medical options, voluntary and worksite plans as well as ancillary products.

You succeed when you have the right products to offer your clients. Client A might let you know that HR and the executive staff have been talking about a dental plan. You should have several options that you can consider offering them. The more options you have, the greater the chances you will have something that appeals to your client.

Meanwhile, Client B wants to add prescription drug coverage to its medical plan. Once again, what are your choices? Prescription plans may be a bit more limited, but you still need as many options as possible to put on the table. Your general agency should be offering you a good selection.

Products Are Part of Your Reputation

The products you offer are not only your business; they are also part of your reputation as a broker. Think about it in terms of something more basic – like grocery shopping, for example. Let's say one market you visit only has one brand of coffee. You visit another market only to discover dozens of brands. Six months from now, which market will have a better reputation in your mind?

We are guessing that your clients want choices. They will think more highly of you if you're able to maximize the choices they have. Is your general agency helping in this regard? Are they helping you solidify your reputation by giving you a large selection of products?

Products Are Your Foot in the Door

As a broker, you cannot afford to concentrate only on maintaining your current book of business. You also have to expand it. Once again, products are important inasmuch as they are your foot in the door. You have to give potential clients reason to start working with you rather than maintaining the status quo. A good reason is finding products with you that they haven't found anywhere else.

What this all boils down to is product selection. Choices are really what makes a difference to customers. Your clients want to have multiple options for every benefit they offer their workers. They may not offer every option at enrollment time, but they at least want options to look through themselves.

If your general agency isn't giving you enough choices, it's time to think about making a switch. Products are the lifeblood of your business. You need choices.