Insurance Consulting Automation and What You've Been Missing


These are the “3 Insurance Agency Technology Buckets”:

  1. CRM - agency management

  2. Enrollment Solutions – online enrollment, private exchanges

  3. Insurance Consulting Automation – insights, content, analytics, data mining

The most often overlooked is the idea of Insurance Consulting Automation. 

In fact, most insurance agents that we speak with have never even considered the impact that the right application of technology and automation can have on their business.

With Insurance Consulting Automation you can improve your sales close ratio and renewal retention rates while also reducing the time required to produce the client specific content needed for each new sales opportunity and client renewal.

process.jpgWhat is Insurance Consulting?

Insurance Consulting is a methodology, it is not a spreadsheet.  It is a process and a methodology that has a number of steps to it.  Those steps are:

  1. Discovery
  2. Analysis
  3. Solution Design
  4. Implementation

Click Here to Learn More About Insurance Consulting Automation

Discovery is arguably the most important step, is when you ask all the questions needed to understand the client’s needs, wants and pain points.

  • Employee Feedback Surveys
  • Census, plans, rates, contracts
  • Interview all key stakeholders of decision making team – ask the right questions
  • Discovery process – needs to be tweaked for today’s new

is when you can use your IP to bring something unique to the table in order to add value.

  • Data modeling
  • Benefits Benchmarking
  • Claims Benchmarking
  • Uncover opportunites for improvement
  • Financial Forecasting
  • Compliance testing
  • Network performace
  • Predictive modeling
  • Legal exposure

Solution Design is how to model the options to best articulate the value of your solution to the client.

  • Vendor Selection
  • Plan Construction
  • Contribution Strategy Modeling
  • Wellness

Implementation is the execution of your plan.

  • Roadmap of different communications
  • Open Enrollment meetings
  • Elections processed
  • Elections processed
  • Government filings
  • SBC & SPD
  • Ongoing communications

Use the Data in Your CRM to Make Marketing Magic

To maximize the impact you will need to develop a consistent approach.  Your approach may have a few more steps when you are dealing with large group than with small groups, but the underlying methodology should be the same.

These Large Group consulting tools that are typically only available to national firms are now brought down market for local and regional brokers allowing independent brokers and benefits consultants the ability to play offense and not defense.

CLICK HERE to learn how you can automate your insurance consulting work:

Click Here to Learn More About Insurance Consulting Automation

About The Author

With over 20 years of experience in the world of employee benefits and insurance technology, Jason is the founder and chief evangelist of BenefitsGuide, an insurance agency management system and CRM built entirely on the Salesforce Platform that streamlines the process of selling and servicing group insurance and employee benefits from the perspective of an insurance broker, general agent, PEO, and insurance carrier. Jason also owns and oversees the group insurance brokerage based in New York that he founded in 1996.