Bold statement from DBL Center President Michael Cohen leads into how brokers can grow their book of business with PFL
P&C and health brokers know that enriched DBL in New York can be a tough sell.
As a mandatory benefit, DBL is a no-brainer, but let’s face it: The commissions aren’t making anyone rich. That’s why we promote enriched DBL, as well as ancillary benefits, including vision, dental, and even life insurance as a way for brokers to expand their book of business and make more money.
But with the introduction of the Paid Family Leave Act, DBL is finally relevant again. That is to say, it’s not only making headlines everywhere in New York, it’s also become profitable. “Health brokers, life brokers, P&C brokers, even estate planners and CPAs are using PFL as a tool to broaden their book of business. And, of course, here at The DBL Center, we love it,” says Michael Cohen, DBL Center President.
Questions about PFL?
If you’re reading this, you probably know that PFL coverage, which goes into effect in New York on January 1, 2018, will be written as a rider to existing DBL policies. And that employers were allowed to begin deducting premiums as of July 1, 2017. “A lot of brokers and employers face some confusion or hesitation about the payroll deductions,” says Michael Cohen. “I’m telling people not to get hung up on the deduction, but instead think about how you are marketing PFL to grow your book. As brokers, at the end of the day, it’s all about taking advantage of these opportunities to increase profits.”
The DBL Center is taking a multi-faceted, multi-tiered strategic plan to marketing PFL which, in turn, helps their brokers. “We’re relying on our relationships with top carriers, and differentiating ourselves with educational content, including webinars and thought leadership articles. We are building an even stronger social media presence on LinkedIn, and we are leveraging the relationships I have in the entertainment industry to organize seminars and talks with celebrity tie-ins,” says Michael Cohen. “In essence, we are working hard to make the industry fun again while sharing information and promoting a very profitable – and important – product.”
Still have more questions about PFL and how to use it to grow your book of business?
DBL Center President Michael Cohen recently recorded a video with ShelterPoint that tackles many of the toughest questions about PFL coverage in New York.
Make sure to watch to the end, because you won’t believe what Michael Cohen says about how PFL will change the DBL industry —for the better. Watch the video here, and use the information to drive PFL marketing campaigns within your own brokerage.