Addressing brokers’ #1 pain point with carriers

We all know benefits are the name of the game in our industry. But what really keeps clients happy? Service. Sure employers may select their benefit offering with you, but if employees hold onto their policy, they may live with the carrier’s service for years. And the most common service interaction between employers, policyholders (i.e., employees) and the carrier? Premium payments. Yes, claims carry a lot of weight, but ideally those are few and far between. On the other hand, premium payments occur regularly, and, if employers are handling deductions, it’s often the most common interaction between employers and carriers. Unfortunately, it can be the most painful one. A survey of brokers found that their number one administration pain point with carriers was billing. How do we, as brokers, work to alleviate this pain point? There’s obviously no answer that will erase all billing challenges, but there is a solution that can help you move toward a better service experience for your clients and their employees: ACH deductions. By deducting payments directly from a policyholder’s bank account you can eliminate headaches and add value for your clients and policyholders. How, exactly, will these ACH deductions make life easier for your clients? Let’s look at 4 big ways: