To address market demands, successful agents have everything to gain by placing a renewed focus on six key roles defining the relationship between brokers and small businesses:

Consumerism gurus: Some believed the increase of many new exchanges, technology platforms and online services signaled the beginning of the end for the broker role. But more than ever, small businesses need a guide, a specialist, an advocate and a problem solver to navigate the changing health exchange and marketplace options that are becoming increasing similar to 401(k) offerings. In essence, employers need a consumerism guru. In the midst of this change, the expert broker shines today, and will continue to do so within the small group market.
Advisors to small groups: Small businesses rely on health benefits to attract and retain the best workers. Restauranteurs, hair stylists, and machinists are skilled in their respective industries, not health and employee benefits. They are faced with the daunting task of finding the right coverage options at the right price to effectively meet the wide range of needs and requirements for their diverse group of workers. Without the steady hand of a professional advisor, the ability to zero in on optimal coverage options can be a difficult journey.
Service providers: The ACA has been a catalyst for automating a variety of traditional broker functions, such as plan comparisons, enrollment, physician selection, and more. But again, this trend is actually deepening the value of skilled agents. There are a number of reasons why, but they all track back to one vital factor: service. Brokers who assist businesses in navigating health care reform offer tremendous value. They can help manage health care costs, keep up to date on regulatory requirements and changes, and assist with benefits administration and employee benefits education. They listen to the needs of each business, match those needs to the best marketplace options, provide quotes for coverage, and place the business with the program that offer the best options.
Human interface: When it comes to identifying and selecting the best health insurance coverage, the devil really is in the details. Several years ago, an IBM-commissioned poll of 1,000 U.S. consumers found an overwhelming preference for personalized service and human interaction from their insurance providers. While technology has enabled the seemingly overnight explosion of online insurance marketplaces, brokers who can deliver service support to their customers will win out in the long term. When it comes to customer service, nothing beats face-to-face interaction that is timely, personalized and valuable to clients. A broker offering to provide a human element to their business is the leading preference of small company owners and their employees.
Single point expert: Benefit specialists who provide a single-point of contact to handle a multitude of needs and issues will win every time. Be the go-to expert for solving problems or needs, vetting and recommending coverage options, and guiding workers through benefit claims processes. The value of a single-source expert cannot be overstated. A good broker is the point of contact for satisfying all of a small business' needs, whether it's health, life, dental, payroll or other benefit services. Not having to deal with multiple vendors and contacts saves time, money and employer and worker sanity.
Entrusted problem solver: Brokers are also entrusted problem solvers. Few benefits are as important to employers and their workers as health coverage. Small businesses are perhaps more acutely attuned to this, as they must try to compete with their larger counterparts for talent in a cost-effective manner. Putting one of the most important benefit decisions into the hands of a professional who can be trusted to make well-thought-out decisions on behalf of their clients is crucial.

Moreover, brokers today are tasked with unscrambling some of the most tricky benefit coverage puzzles. Since they do not directly represent a carrier, exchange, or marketplace, they are focused on serving client needs rather than selling to a specific (and oftentimes narrower) selection of plans. They sift through options and present the best, unbiased choices that match their client's employer-worker needs. Their primary motivation is to serve, not sell.

Instant Insights /

Adding value to the relationship between brokers, small business groups

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