Location: Atlanta
Company: World Insurance Association
Navigate. It's always been about compliance and helping clients develop strategies to maximize communication in a way that keeps HR on solid ground. But with PPACA changing and introducing new rules on a seemingly weekly basis, agencies have to devote resources toward helping navigate clients through dangerous waters. Just as IT resources are being sought after, it's becoming more critical to bring legal resources in-house or at the very least, work with experts who can assist.
Stay ahead of the curve. Technology is tricky. If you can't stay ahead of the latest and greatest offerings, it's easy for someone else to show your client the “must have” with employee communication. While the marketplace was focused on email marketing and online portals, we invested in a recording studio for video services for clients. As video started to catch on and become more accessible, we invested in mobile platforms and app development. Staying on the cutting edge of benefits communication and administration is a lesson that never gets old.
Go global. For years the benefits marketplace has been adapting to cross-border coverage and expatriate benefits. It's one of our fasting growing segments of enrollment requests. However, to exceed client expectations, the term global also should refer to a comprehensive suite of product and service offerings that brings fresh new perspective to HR while offering cutting edge benefits the C-Suite is proud to offer. It's crucial to expand product and service portfolios through partnerships and listening to the needs of the employees we serve. You should add at least one new product or service offering to your agency every one to two years.
Develop your brand. The most important lesson to learn over and over again is to be able to identify the niche in which you can excel. Whether it's a service or product offering, developing this expertise to market to clients and broker partners is the most important benefit anyone can bring to the table. As we developed niche expertise we ultimately made the decision to “brand” each niche area of practice based on specialty or consumer segment. In a world of two-second social media, your brand might be the first and only shot you get to generate interest in learning more about you. Spend the time, money and resources to develop your brand and promote your niche expertise. It is the best ROI you'll find.
Align goals. From the carriers and vendors you select to your most trusted business associates, nothing will more directly contribute to your level of success than the right partnerships. It's imperative to align everyone's goals so that success is achieved by all when anyone achieves success. Select partners who evolve and have a track history to re-making their success. Equally important is to retire partnerships that have run their course and have different values or goals than yours. Eliminate the letter “I” from your repertoire and make sure that “we” is used in excess. It's amazing what can get done when you don't care who gets the credit.
Photo by Troy Stains
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.