When HR and benefits departments create group benefits plans, they often focus on the majority of employees – hourly wage workers, middle management, and those earning less than $10,000 a month gross income.
But we know that the c-suite, including the business owner, plays a key role in daily operations and the success of the business. Retention of high-level employees is crucial to a company’s growth and longevity.
In many ways, the c-suite is no different than other employees: They want a robust worksite benefits package and they want to know that their income is protected in the event of disability.
Most plans include provisions for group long-term disability (LTD) as a foundation for income protection. In states like New York and New Jersey, which have statutory short-term disability, LTD picks up where STD or DBL leaves off.
Yet many group plans do not offer the type of coverage high-earners need to maintain their lifestyle and pay their bills if they become sick, injured or disabled and unable to work in their current occupation. Because of caps on benefits, LTD insurance often replaces just 40% of their salary for a six-figure earner.
That’s where Individual Disability Income (IDI) insurance comes in. Through our network of carriers, The DBL Center is able to offer standard issue IDI insurance beginning at 5 lives.
As an insurance broker, if your client has at least 5 employees earning at least $100,000 annually, you can help them find the right policy. These plans provide up to 75% income replacement and can include base pay and bonuses.
The plan has a broad definition of disability, as it covers individuals if they can’t work in their own occupation. The DBL Center can write policies with a multi-life discount of 20% to 30% and unisex rates. This is an employer-sponsored benefit and, depending on the policy, your clients may be able to use IDI premiums as a line of credit toward their other group policies.
You should also be aware that coverage is:
Recruiting and retaining employees in highly technical fields, including technology and banking and investments, has become more difficult following the pandemic. People want opportunities to work remotely. Many executives, engineers, and other high-performing individuals have moved away from tech hubs to work in areas with warmer climates during the pandemic.
Offering robust worksite benefits packages remains one of the best ways to recruit and retain top workers. If you have clients in banking, technology, consulting, accounting, engineering, or the legal field, who employ at least five highly compensated individuals, they can benefit from this coverage.
IDI fills the gap where LTD leaves off. Highly compensated individuals can leave their investments where they are, which is crucial in a bear market, and meet their living expenses and pay additional medical expenses that may arise from their disability, with IDI coverage.
Highly successful people and top earners have a way of making ends meet and providing for their family in any circumstances. But borrowing against a retirement account or selling investments is not the best financial choice in a bear market. Nor is it a good idea to borrow money against real estate holdings or other investments when interest rates are rising.
Especially in today’s inflationary economy, it’s important for your clients to ensure that all employees have adequate disability coverage to reduce employee stress. When a disabled executive doesn’t have to worry about money or providing for their family, they can focus on healing and recovery. That can mean a faster return-to-work, which benefits the individual and the organization.
Take a look at your current book of business and pinpoint organizations with more than 5 high earners. Actively selling IDI can be a great way to boost your business in the fourth quarter while delivering the benefits your clients need.
Reach out to The DBL Center, your back-office staff for disability benefits and more.
by Dawn Allcot
The DBL Center is your trusted resource for statutory disability benefits, like TDB in New Jersey and DBL in New York, that your clients need. But insurance brokers should also consider sharing the advantages of other types of coverage.
Key person insurance and business life insurance are critical products that many business owners overlook. Likewise, long-term disability insurance for executives and company owners can help the owner and their family financially survive a tragic event. These insurance benefits can also be used to fund a buy-sell agreement if ownership needs to be transferred to one or more of the partners.
Key person insurance is one of the many ancillary benefits DBL Center brokers can access to provide a full suite of coverage to their clients. Key person insurance, sometimes called business life insurance, protects the company’s financial well-being if a leader, whether that is a company founder, partner, or a top-level executive, dies or can no longer perform their job duties.
But if a business has multiple owners, the situation can become a bit more complicated.
Often, business partnerships have an agreement in place to facilitate the sale of the company to one of the owners if something should happen to the other owner. In a buy-sell agreement, the owners will have the right (and, in some cases, will have an obligation) to purchase another owner’s shares if an owner dies or becomes disabled.
A buy-sell agreement can provide necessary income to the deceased or disabled owner’s estate. It also helps ensure the owner’s estate is compensated for the work, time, knowledge, and capital the owner invested in the business.
But what if the other partners don’t have the capital to purchase the owner’s share in the company?
That’s where key person insurance, business life insurance, or even long-term disability insurance for executives can come into play.
Any of these products can be used to fund a buy-sell agreement and transfer ownership of the company to the surviving, working partners.
When the company uses business life insurance, the policy will be used to fund the purchase of the owner’s shares, paying out to the owner’s estate while giving surviving partners full ownership of the company.
A long-term disability policy can be used in the same way if the owner is still alive, but disabled and unable to perform their job duties any longer.
Alternatively, a cross-purchase agreement names each of the owners as beneficiaries on each other’s policies. This can get more complicated, according to an article that originally appeared in the Thomson Reuters’ Estate Planning Journal.
Rather than having a single policy covering the business, there must be life insurance policies for each of the owners, with the other owners named as beneficiaries. If there are three owners, you would write six life insurance policies, so that each party is a beneficiary for the others.
Having the right insurance protects not just individual employees and business owners, but the company as a whole.
By looking beyond statutory benefits like DBL and TDB, you can position your insurance brokerage as a trusted resource and consultant to your clients. Selling benefits like key person insurance, long-term disability, and executive life insurance not only helps boost your commissions, but helps give your clients peace-of-mind that their company is protected against any contingency.
As the statutory insurance industry prepares for July 1 renewals, it’s a good time for insurance brokers to help them identify gaps in coverage that may be filled by ancillary benefits.
The introduction of paid family and medical leave programs in a growing number of states opens new markets to statutory brokers. DBL Center brokers who specialize in short-term disability in New York and New Jersey understand what it’s like to roll out a new benefit program based on experience with New York PFL.
As such, you are uniquely qualified to help your clients with these new benefits in Massachusetts, Connecticut, and beyond. Plus, you have the advantage of the DBL Center’s proprietary Broker Dashboard: Net Revenue Tracker to keep your clients aware of renewals and pending cancellations.
As you’re reviewing benefits for third quarter DBL and TDB renewals in July, take some time to ask your clients about their other employee benefits to identify holes in their coverage or areas – especially in regard to executive benefits packages, ancillary benefits, and long-term disability insurance (DI).
You can list some of the most common ancillary benefits and ask your clients if they offer these options to their employees. But it’s better to start a dialogue that discusses their needs.
You might start by asking about the demographics of their employees.
Then, move on to the specifics of today’s economy:
Finally, look to the upper level of employees and the business, itself:
Once you’ve determined the make-up of the workforce and the business owner’s biggest concerns regarding the future of their business, you can make the best recommendations.
Of course, budgets are always a consideration when you’re optimizing employee benefits packages. It helps to remind clients that many benefits can be offered as completely voluntary and employee funded, funded by the employer, or on a cost-shared basis.
Having these options allows business owners to deliver competitive benefits without a dent in their bottom line. Even executive packages for life insurance and long-term disability can be written as buy-up coverage, fully funded by the executive with no cost to the company.
Every quarter also brings new opportunities to write new business and expand your reach as an insurance broker. There is no easier way to get your foot in the door than with statutory benefits that every business owner needs to provide, by law.
DBL in New York and TDB in New Jersey have been on the books for decades. There are always new businesses entering the market in need of coverage. Plus, opportunities to privatize these benefits along with Family Leave Insurance in New Jersey and Paid Family Leave in New York opens doors for brokers.
It all starts with education about the products and presenting your insurance brokerage as an authoritative resource for statutory benefits. That’s where the DBL Center comes in as your back-office staff with the knowledge and experience to write Paid Family Leave in NY and other states now offering family and medical leave benefits.
From there, you can continue to ask the right questions to help benefits supervisors, HR directors and company owners develop the best benefits package to achieve their business goals. Disability insurance is just the beginning. Today’s workforce needs so much more in the way of insurance coverage.
When you pinpoint the holes in your clients’ coverage packages and show them ways they can affordably recruit and retain talent through the benefits today’s businesses and employees need most, they will rely on you as a trusted resource. The time to start is today.
DBL Center President and CEO Michael S. Cohen recently appeared as a guest on the Poza podcast The Risk Taker, hosted by Chaim Berkovic, founder and president of Skyscraper Insurance. The podcast focuses on business leaders who take on unusual challenges, step outside their comfort zones, and achieve success.
During the 40-minute interview, Berkovic and Cohen discussed how DBL Center was founded more than 45 years ago by David Cohen and how he brought privatized short-term disability benefits to Hawaii. You’ll learn how Michael Cohen got into the family business, and the many lanes Cohen has now expanded into as The DBL Center leads the charge in terms of technology in the statutory disability industry.
Below, we share a few highlights from their conversation. But it’s worth tuning into the full podcast here.
You’ll hear the two business leaders talk about connecting with clients of different cultures, taking risks in sales, and treating every account as if it’s a $1 million deal.
As risks go, selling DBL is one not many insurance brokers take on. Cohen told Berkovic, “They don’t think there’s enough money in it. They don’t know what to ask. They’re not asking the right questions. I know how to help brokers like you get in the door to ask the right questions about disability insurance. Everybody asks about major medical, worker’s comp, or personal lines, but right in the middle between that is the state-mandated short-term disability. The introduction of paid family leave has just blown that door wide open and raised awareness about statutory benefits.”
Although his father David Cohen, laid the groundwork decades ago, Michael Cohen never wanted to be viewed as just “the owners’ son.” In the past several years since taking over the company, Cohen catapulted The DBL Center not just to the top of Google rankings through his team’s marketing efforts, but to rapid growth and expansion across the New England states.
Today, The DBL Center services not just New York, New Jersey and Hawaii but also Connecticut and Massachusetts, which recently implemented statutory paid family and medical leave policies. Cohen helps brokers tap into markets they may not have considered by hiring experts in those regions, and offering a streamlined process for selling and managing statutory benefits.
“I keep it simple,” he told Berkovic. Through the Broker Dashboard, The DBL Center can show brokers the direct-billed DBL and ancillary policies and help them track renewals, cancellations, and commissions. While DBL and PFL may not be what most brokers think of as “big-ticket sales,” these products provide a foot in the door for larger policies. “The DBL Center – and our proprietary Broker Dashboard – are the conduits to helping brokers’ retention,” Cohen said.
Recently, Cohen further expanded The DBL Center to offer absence management solutions to brokers’ clients. “We are offering solutions for when workers are taking intermittent leave on a standalone basis, especially in companies with over 50 lives. Most places require you have another plan, like LTD. We can do standalone policies and tie it into DBL,” he said on the podcast.
Adding yet another responsibility to his list wasn’t easy – and it wasn’t a decision Cohen took lightly. But he knew it was necessary to scale The DBL Center to the next level and provide the best service to his clients. “One of the toughest things about my job is that I feel like the brokers are my children. How do I hug all of them at one time? I don’t feel like there’s enough of me to consult and teach everybody. So, I hire people who are experts in their region or their field. I stay in my lane. And the lane has become filled – it’s now one lane, two lane, three lane, and HOV.”
Listen to the full podcast here: The Risk Taker: Skyscraper Insurance with Michael S. Cohen of The DBL Center
You’ve probably heard the expression, “Stay in your lane.” One of DBL Center founder David Cohen’s favorite quotes was “Stick to sewing.”
Both expressions relate to finding what you’re good at, honing your skills and knowledge in that area, and not wasting time on diversions outside that field. Find the right people to support you in your business who can provide the skills you don’t have – or don’t have the time to pursue.
The DBL Center has always held to this adage, using it to build a national sales force specializing in specific regions or specific areas of coverage. We used it to build a top-notch outsourced marketing team that works in collaboration with our president and CEO Michael Cohen to keep our website one of the top-ranked in the industry. We used it to create an IT and cybersecurity department that, in the future, will be offering tips to our brokers to help ensure their systems and security are where they should be as we enter 2022.
Most importantly, for 45+ years, we have focused on building our niche as a wholesale/General Agency for statutory insurance and ancillary benefits in a growing number of states.
When David Cohen launched The DBL Center in 1976, he chose a nascent niche that didn’t have many competitors. DBL and TDI were statutory benefits, which should have made for an easy sale. But the real challenge was customer education. No one knew they needed these benefits in New York and New Jersey. Shortly after growing in the New York tri-state area, Cohen took the business to Hawaii, becoming the only TDI insurance company on all the islands.
Over the years, many of our brokers have asked why we don’t write health insurance. Impressed by the rates we negotiate with top carriers and our concierge-level customer service, our brokers would love to write all their policies with us, giving them a one-stop shop for employee benefits.
But the nuances of the health insurance industry would require stepping out of what we’ve known for 45+ years. It would require hiring specialists in those fields and diverting our attention away from the areas where we excel.
The carriers in the health insurance field are, largely, different. The policies differ dramatically. And the products, themselves, are more complex than anything we offer today.
By staying in our niche, we can continue to provide concierge-level service in a highly focused field. Our brokers don’t have to know everything about DBL and TDB coverage, because we do. They can turn to us with any questions and to be their full-fledged back-office staff.
When the New York State governor introduced Paid Family Leave in 2017, The DBL Center was on the cutting edge of the news. We were able to get up-to-speed quickly and guide our brokers through one of the most confusing closing periods in our history. We collected censuses, billed premiums, and wrote the necessary riders to DBL policies in New York. All while giving our brokers opportunities and tools to upsell customers to enriched DBL to provide a better benefits package to all employees – not just those who were parents or expecting to become parents soon.
We even provide a platform enabling our brokers to easily track commissions, cancellations and renewals, and we can email reports on demand or on a weekly or monthly basis so they can follow up with their clients.
Our expertise in statutory benefits and ancillary benefits and now, voluntary worksite benefits, enables our brokers to focus on health insurance and other products, knowing that statutory benefits virtually sell themselves. Ancillary benefits, too, are an in-demand addition to benefits packages right now to improve employee morale and combat high quit rates.
However, through partnerships with other companies, The DBL Center is now in a position to make referrals for healthcare coverage. Through our vast industry connections, we can now introduce you to wholesale insurance agencies and carriers that share our philosophy and values, which we’ve upheld since 1976.
We have always guided our brokers to the best rates and coverage for their clients seeking statutory and ancillary benefits. Now, we can help you grow your business and increase commissions in other ways when it comes to employee benefits and human capital management or absence management.
Hang on, because 2022 is going to be an exciting ride for all of us. We’re glad to have you along for the journey.
Smart New York disability insurance brokers have been thinking ahead to 2022 since the third quarter wrapped up. However, that’s not always easy to do as so much has changed in the past year. If you’ve been focused on the day-to-day, treading water and focused on maintaining your book of business without growing, that’s completely understandable.
But it could be time, as the new year approaches, to take a step back and take inventory of how you can grow in 2022.
As a successful New York disability insurance broker, you understand that keeping your pipeline full of leads and using consultative selling to earn the trust of clients and prospects, are keys to success. But how can you generate leads to fill your pipeline in this ever-changing, fast-paced world?
First, let The DBL Center be your back-office staff for managing the details. Follow our expert marketing tips for New York disability insurance, ancillary benefits like dental, vision, and group life/AD&D, and voluntary worksite benefits like accident insurance.
As we prepare to enter the new year, take an internal inventory of your sales and marketing strategies. What has worked in the past?
Most importantly, are you clear on the make-up of your target market? Only when you understand your audience can you adopt the appropriate strategies to fill your pipeline with leads.
The digital era brings marketing strategies and tactics that New York disability insurance brokers haven’t previously embraced. If you’ve relied on sales calls, face-to-face meetings, and in-person networking to grow your book of business, it’s time to start looking at one-to-many (rather than one-to-one) tactics that can save you time and yield faster results.
Possibilities for digital marketing include:
This can all seem overwhelming, especially if you haven’t done much digital marketing.
Choose one or two tactics that fit your company’s skillset, personality, brand and budget. Consider outsourcing some of these services if you don’t have the in-house staff to maintain momentum with content creation or don’t have the knowledge to spearhead a digital ad campaign on your own.
An outsourced digital marketing agency can deliver warm leads straight to your sales team, leaving your in-house brokers to seal the deal through consultative selling, white-glove service, and a deep understanding of the products.
It can take three to six months for a digital campaign to gain momentum, but you’ll want to be prepared when it does. Have a system to identify and follow-up on qualified leads.
When you do, consider your entire product line – not just New York disability insurance. The DBL Center works with preferred carriers to provide our clients with affordable options to upsell businesses on:
You can save your clients money by bundling benefits, which can help them recruit and retain talent in today’s tight labor market. By making recommendations in a consultative capacity, you’ll become a valuable resource, working hand-in-hand with business owners and HR departments to help solve one of their biggest problems today: Keeping well-qualified employees happy.
Of course, it costs less money to retain customers (and upsell additional employee benefits!) than it does to generate new leads and bring in new business. Both are equally important for business growth.
The DBL Center’s proprietary Broker Dashboard: Net Revenue Tracker gives you the tools you need to track renewals and cancellations, so you can stay in touch with your clients when they need you most.
Schedule your free demo of the Broker Dashboard today.
by Michael Cohen
The holiday season used to begin when Santa Claus rode down 34th Street, waving in front of Macy’s during the Thanksgiving Day parade. But now anyone who celebrates Christmas, Hannukah, Kwanzaa or even New Year’s Eve knows the “holiday” season starts with pumpkin spice and apple pie, not sleigh bells.
Things get busy – and for parents or people caring for older family members, it can be even more stressful. In the insurance industry, we have our own pressures as soon as October 1 hits. State-mandated benefits including DBL in NY and TDB in New Jersey are eligible for renewals, leading to a swarm of administrative work beginning October 1 through October 10 and running through the end of the year.
For brokers, your renewals are the bread-and-butter of your business. Those nickels, dimes, and quarters add up to dollars. And the product is a benefit that every business owner in New York, New Jersey (and now a growing list of additional states, including Connecticut and Massachusetts) must carry for themselves and their employees. So it’s just a matter of providing the best rates and stellar service to keep that business on your books year after year.
So here’s the question: Why must all Statutory and Ancillary Employee Benefits have a Jan 1st effective date?
The answer….They Don’t!
You probably have many customers who are stuck in the renewal phase of October 1 or January 1 for temporary disability insurance. But as you onboard new customers, encourage them to set their renewals for a different quarter. And remember, ancillary benefits, life insurance, and voluntary worksite benefits – such as critical illness insurance – can be written the first of any month.
By writing early renewals, or even shifting renewal dates to the spring, you can provide your clients with several advantages and save yourself time and stress. Let’s explore the benefits of locking in renewals early.
Worker’s compensation, major medical benefits, and several other expenses all come due on the first of the year. If you’ve ever budgeted for your business – or even your household – you know that it’s best to spread expenses out across a month. Most people don’t want to have to pay their mortgage, car loan, utilities and credit card bills all on the same day of the month. That’s why credit card companies offer you the option to “choose your own monthly payment date.”
It’s the same thing for a small business. Your customers can spread out insurance expenses over the year by renewing the following ancillary benefits earlier in the year:
This can help them manage cash flow and also spread out their quarterly tax deductions to reduce their tax bill.
In any sales industry, leaders push hard at the end of the month to drive revenue. In the insurance industry, we push from October through January. But what would your life – and bottom line – look like if you pushed hard at the beginning of the year, instead?
You’d have more time to relax and breathe at the end of the month, knowing you’ve already achieved your sales goals and have money in your pocket.
If you spread renewals across all four quarters, especially when it comes to upsells like ancillary benefits, you’re not only reaching clients at a time when they aren’t facing other renewals for workers’ compensation and major medical, you’re giving yourself a head start on revenue for the year.
Here at The DBL Center, 75% of our renewals for ancillary benefits come in the fourth quarter. We push hard to get our clients the best rates and maintain the highest levels of service. But if you take the time to line up recurring revenue from renewals in the spring, you’d have the second half of the year to focus on growing your business.
Maybe that means making operational changes for greater productivity. Or maybe it means initiating a large inbound marketing push to help drive leads to your website and grow your book of business. Maybe you can take that time to focus on business growth, instead of just keeping up with existing policies. And if you want to take a break to enjoy the holidays with your family? You’d have that opportunity, as well.
We’re already entering the busy season in the statutory disability and voluntary worksite benefits space. It’s time to start thinking about planning ahead for next year and how you can spread renewals across the four quarters for better cash flow, peace-of-mind, and business growth.
As many companies went out of business in 2020 and others saw substantial revenue reductions, insurance brokers have struggled to collect payments for New York and New Jersey statutory disability insurance policies. The DBL Center is the first and only wholesale insurance broker to deliver a list of your pending cancellations and renewals directly to your inbox via our industry-first Broker Dashboard: Net Revenue Tracker app.
Every year, a handful or more of companies will push the limits of their disability insurance renewals. They know we can always backdate the policy if they pay even after cancellation. But brokers’ commissions get delayed and it can wreak havoc on cash flow.
This year could have been even worse when it comes to lost commissions and a shrinking book of business due to the pandemic. But the Broker Dashboard: Net Revenue Tracker app helps DBL Center brokers stay on top of pending cancellations for non-pay, so they can get paid faster and keep the money coming in. After all, we all know that nickels, dimes, and quarters make dollars. Every disability insurance policy your customers pay on time, before multiple cancellation notices, represents money in your pocket.
“I think the annual billing cycle that just closed has been as successful as it could have been given all the other [economic] circumstances,” said Valmaria Strobel, Vice President – DBL Underwriting for Standard Security Life Ins. Co. of NY.
She added that The DBL Center’s reminders to Standard Security brokers were instrumental in avoiding a host of non-pay cancellations. “We billed these policies at the end of 2020, and although some were slow to pay, more have paid than would have without those reminders he was sending.”
Standard Security started in the business 30 years ago with The DBL Center, led by founder David Cohen, as one of the carrier’s top wholesale insurance brokers. “If you ask me what [DBL Center President and CEO] Mike Cohen has brought to the table, it’s the technology, for sure,” Strobel said.
Every month, The DBL Center delivers a list of all policyholders, including in-force policies, renewals, pending cancellations, and cancellations to brokers’ inboxes, making it easy for brokers to track down pending cancellations to keep revenue streams flowing. “It’s hand-packaged and tied in a bow, essentially,” Strobel said.
Strobel explained that the Broker Dashboard reminders go out to brokers on the heels of Standard Security reminders. “It’s been effective in getting policy holders to pay and avoiding some unnecessary cancellations,” she says.
It’s not just carriers who love the way the Broker Dashboard keeps cash flow moving and helps prevent cancellations for non-pay.
Over the past years since The DBL Center introduced this technology, brokers have expressed gratitude for the monthly reports and easy, remote access to their entire book of business.
Calling the list of renewals and pending cancellations “very helpful,” Anthony Villani, managing director for Avanti Associates, a Pelham, NY, disability insurance broker, said. “We do a lot hand-holding with insureds on these renewal audits and are presently working on these accounts, I am pretty sure we will be saving most of them and this list facilitates our process.”
Similarly, Tom Murray, commercial lines account executive for JSM Brokerage Inc. in East Hills, NY said, “I appreciate you reaching out and letting me know about all these.” Having a list of pending cancellations and non-renewals allows brokers to focus on bill collection in a timely manner, while the Broker Dashboard tracks it all for them.
The DBL Center is the only wholesale insurance broker that provides the technology and service to help you stay on top of cancellations and improve cash flow.
Not using the Broker Dashboard yet? Watch our video and then schedule your free demo here!
We’re all busy and it’s not always easy to stay up on the latest statutory and ancillary employee benefit insurance industry news – or to get the helpful tips you need to grow your book of business. The DBL Center understands, which is why we’ve launched our In The News section.
Watch an overview of how to use your Broker Dashboard: Net Revenue Tracker to easily track renewals, cancellations and commissions from any internet-enabled device. You can also schedule a demo of this cloud-based app using the easy-to-access chat feature directly on the page.
If you’re not already using the Broker Dashboard, you’re missing out on a key benefit of working with The DBL Center as your wholesale general agency. The Broker Dashboard provides up-to-the-minute information on all the accounts you write with us, so you can gain better control of your business and track your direct billed policies.
Read More: Six Steps Insurance Brokers Should Take Today to Start 2021 Right
Get to know the people behind our wholesale general agency better in our one-on-one video series. DBL Center President and CEO Michael Cohen puts his years of stage experience and his passion for film to work as he interviews The DBL Center team, revealing their motivations, goals, and a few fun facts.
Our Rep Roundtable series achieved industry-wide recognition. These short-form video podcasts launched in 2019, bringing together reps from our top insurance carriers to discuss industry trends and offer tips for brokers.
If you want to learn more about Paid Family Leave’s expansion into New England and beyond, examine the implications of technology on the statutory insurance industry, or find out how top carriers got their start in the field, this is the place to look.
Read More: New York Paid Family Leave Resource Center
Take a look, too, as The DBL Center marketing team “turns the tables” on Michael Cohen to interview him in a virtual series produced during the pandemic. Cohen discusses how the industry changed dramatically in 2020 and what brokers can do to network successfully and grow their business through enriched DBL and ancillary benefits, including Group Life / AD&D, which has seen increased demand in the past year.
Of course, scroll down to our Press Release section to see the latest breaking news, from the Broker Dashboard app release on the iPhone App Store to PFL expansion across New England and, soon, into the western states of Colorado and Oregon. We’ll release more information about these new Paid Family Leave programs as it becomes available, and you can find it here in our press release section first.
Since our website’s revamp four years ago, we have aimed to give you the information and resources you need to run your insurance business. Our In The News section brings together some of our most valuable media in one place, so you can browse easily during short spurts of down time. We hope you’ll discover information, inspiration, and maybe even a laugh or two.
Do you remember Blockbuster’s end-of-late-fees?
With the transition to DVD rentals, we no longer had to “be kind, rewind.” Late fees were the last inconvenience of the video store rental service. And then Blockbuster enticed us all to “Celebrate the end of late fees.”
Insurance brokers faced a lot in 2020. Here at The DBL Center, we want to make life just a little bit easier for our brokers. So we’re asking you to join us in celebrating the end of minimum business requirements.
For all of 2021, brokers who write their statutory insurance benefits with us, along with ancillary benefits like vision, dental, and group life / AD&D have no minimum business requirements to worry about. Unlike some other companies you may do business with, we do not require any monthly, quarterly, and annual business requirements to ensure the lowest rates and access to our premium, white-glove service.
We understand that many businesses shuttered in 2021. Reports show nearly 1/3 of all New York and New Jersey small businesses closed permanently in 2020. As of November 2020, the New York Post reported, 27.8% of New York-based small businesses failed to reopen following temporary closures due to the pandemic. It’s even worse in New Jersey, where 31.2% of small businesses closed.
These small businesses are our brokers’ bread and butter. Cancellations were beyond your control. And with few new companies launching, it became harder to write new business.
Because we take care of our brokers, and we want them to be successful without added pressure, we’ve never had minimum business requirements, and we plan to keep it that way. By shifting your book of business to The DBL Center, you, too, can celebrate the end of business requirements and sales quotas! Make life just a little less stressful in 2021, and enjoy all the benefits of having The DBL Center as your white-glove, white-label, back office team.
When Netflix first came along, everyone thought movies-on-demand, no late fees… was crazy.
Just call us the Netflix of the insurance industry, because we’re doing something no one has done before by eliminating minimum business requirements and sales quotas to meet. Also like Netflix, we are on top of the latest technology in our industry.
As a DBL Center broker, you can:
You can learn more about our Broker Dashboard: Net Revenue Tracker here. And, for all of 2021, don’t worry about meeting business requirements Just keep doing what you’re doing and enjoying all the benefits of having The DBL Center as your white-glove, back-office team.