Don’t Be Late (on DBL Premiums): Let The DBL Center Help You Get the Commissions You Deserve

Insurance brokers know that DBL stands for “Disability Benefits Law,” which provides statutory New York State short term disability insurance to qualifying workers through employer-funded benefits packages.

But here at DBL Center, we love a good play on words. We want to remind our brokers that this year, more than ever, the “DBL” in DBL Center stands for “Don’t be late.” That is, don’t be late with your NY disability insurance premiums and delay your incoming commissions because clients haven’t remitted premiums on time.

Are You Leaving Commissions on the Table?

Across New York, businesses have closed as a result of the pandemic. From mom-and-pop boutiques, to law firms, restaurants, gyms, and even larger companies, New York business owners felt the crush of the quarantine, followed by re-opening regulations, and a public that is wary of leaving their homes or spending money.

As we continue to struggle with these challenges, one thing insurance brokers shouldn’t have to worry about is whether or not their clients still in business have paid their premiums.

Yet, it’s a fact of life. Brokers face cancellations due to non-pays, client bookkeeping errors, and other lapses that can delay your commissions.

Even in the best of times, you don’t want to have to waste time chasing down clients. The Covid-19 pandemic complicated it further, because you don’t know who:

• Went out of business
• Doesn’t have the money to pay
• Received a PPP loan but perhaps thought premiums were yet another bill waived due to the pandemic
• Put their statutory DBL last on the list of payments to make, after paying the lease and keeping the lights on

Whatever your client’s situation, if they have an in-force NYS DBL policy or enriched DBL, they owe the premium amount due – and you deserve your commission.

We’re More Than Your Insurance Wholesaler, We’re Your Bill Collector

DBL Center is here to remind your customers “don’t be late,” on their DBL payments. Through our powerful Broker Dashboard: Net Revenue Tracker, we can track renewals, cancellations, and non-pays.

Then we send those emails and make those uncomfortable calls reminding your clients their New York state DBL payment is due. We use the utmost tact, and will get that bill paid so you can collect your commission.

And if a company has gone out of business? We’ll adjust the Broker Dashboard records to reflect that. No more wasted time on out-of-business companies.

Tracking Lives After Layoffs and Furloughs

Many customers might have NYS DBL premium payments due, but not understand the amount owed due to a change in their overall employee head count. If their bill does not reflect the new number of lives, reflective of layoffs or furloughs that occurred as a result of the Covid-19 pandemic, we’ll recalculate the total amount due.

And, again, get that bill paid so you can collect your commission.

Free Up Your Time to Grow Your Business

When you help your clients purchase NY disability insurance through The DBL Center, we serve as your back-office staff to manage your accounts. That frees you up to do what you do best, which is sell insurance – even in a struggling economy.

With access to our Broker Dashboard: Net Revenue Tracker, you’ll always know what you’re earning at a glance. You can track accounts ready for renewal, cancellations, and commissions. The Broker Dashboard helps you stay on top of it all – and The DBL Center team is here to help you manage it.

As I stated in my last video interview, the year is more than half over. Halloween is just around the corner and before you know it, we’ll all be closing the books on 2020 and hoping for better things ahead.

Now is the time to start planning for 2021. What will your book of business look like? Are you putting the time into sales or hunting down premium payments? Let us help so we can all look forward to a better future.