October 30, 2015
I got an email today at 4:30pm from Health Republic, a carrier who for the previous two years captured a huge chunk of the small group and individual marketplace:
“In light of these developments, NYDFS and the NYSOH Marketplace have determined that it is in the best interest of consumers to end all Health Republic policies – both individual and small group – on November 30, 2015 so that customers can transition to new coverage after that date."
The details were vague, but the message clear, within 30 days hundreds of thousands of individuals and small groups will have to find new coverage. All of the individuals will need to find coverage for December 1, 2015 AND THEN AGAIN on January 1 2016, for Open Enrollment.
When we broke it down, we realized it was two distinct business processes; essentially an early renewal conversation and then setting up a new plan with a new carrier.
Within an hour of Health Republic’s announcement, our clients knew we had a strategy. Feeling confident in our ability to handle the transition, they weren't likely to search for advice from another broker.
Using our CRM, we created email templates so that each Account Manager could send emails to their clients. Each group Benefits Administrator received emails with important information about next steps and what to expect for follow up directly from their Account Manager. We were able to track when the email was sent to the client and if and when the client opened the email.
What would we have done without BenefitsGuide?
Imagine the complexity of the high volume of transactions and conversations when dealing with a mini-crisis like this one.
Having a centralized system where we can efficiently manage all the work that needs to get done, not only helps us to retain our existing clients, but also helps to win new business.
I would love to show you how workflow automation can help you to save time and money.
- Long Time BenefitsGuide Broker