With Labor Day around the corner, people are debating about whether it’s too early to start bringing out the boots, sweaters, and pumpkin spice. But for The DBL Center and our insurance brokers, we are two steps ahead. We are already considering the end of the year.
You know that as an insurance broker, the effort you put in now will generate revenue three months down the line. But when you work with The DBL Center as your insurance wholesaler, the holidays will come early. That’s because we can help you turn your clients’ required benefits into profits for you.
“I like to tell my brokers I’m like Santa Claus delivering savings that they can use to cross-sell ancillary benefits to increase commissions. And Christmas comes every quarter,” says The DBL Center president Michael S. Cohen.
Here’s how it works.
We Help Your Clients Save Money
For decades, The DBL Center has provided businesses in New York, New Jersey, and Hawaii with required disability and paid family leave benefits. With more states introducing required family and medical leave benefits, brokers have more opportunities than ever before to expand their book of business.
By privatizing required benefits, businesses can save money vs. going with the state plan. We show you how your clients can take that savings and roll it into ancillary and voluntary worksite benefits to create enticing benefits packages that help recruit top employees in their fields.
We Provide Market Analysis and Financial Spreadsheets for Brokers
When a broker comes to us, we first request a census. With the necessary information in hand, we create a request for proposal that we send to our preferred carrier partners.
“We read over each proposal to make sure it matches our brokers’ request and find errors that we work with the carriers to correct. Let us handle the babysitting and go back and forth with the insurance companies so you don’t have to,” Cohen explained.
Once we have an accurate proposal, we create a market analysis presenting the various options and opportunities for savings while pointing out potential risk gaps in coverage. “We want to help our brokers generate additional revenue while making sure the broker, and their clients, are in compliance with the law, offering all the required benefits,” Cohen said. “We are like a broker’s consultant, but without the upfront fees.”
We Review Risk Gaps To Help Brokers Spot Opportunities
Our spreadsheet makes it easy to see risk gaps. We ask the important questions:
- Is the risk secured at another broker?
- Is the client not interested?
- If the client offered voluntary benefits, would employees participate?
We want to make sure our brokers are checking all the boxes for their clients. Since most brokers today focus on healthcare and major medical benefits, we manage ancillary and voluntary worksite benefits, as well as state-mandated insurance coverage like short-term disability and paid family and medical leave.
“Our brokers typically come to us with one ask – rates for required paid family and medical leave or disability insurance. We come back with three or more options to help them increase revenue with little effort,” Cohen said.
We Negotiate with Carriers To Save Time
Once we’ve determined the benefits your clients want and need, The DBL Center team negotiates our best rates with carriers based on years of relationships and bulk purchasing.
Often, we will offer tremendous savings on required benefits. Companies can take that savings and spend it on enriched benefits.
We Act as Your Back Office Staff, Servicing Accounts
The DBL Center also takes care of case installation and servicing accounts, freeing up brokers to focus on health insurance and other big-ticket sales.
We Help You Track Renewals, Cancellations, and Commissions
Finally, our Broker Dashboard: Net Revenue Tracker keeps brokers apprised of renewals, cancellations, and commissions, making it easier for you to maintain and grow your book of business.
As DBL Center founder David Cohen always said, “It’s not about how much you earn. It’s about how much you keep.”
