Massachusetts becomes the fourth state in the Northeast to mandate benefits under a paid family and medical leave act
DBL Center is ready to offer Massachusetts insurance brokers incredible savings on PFML plans under the new Massachusetts Paid Family and Medical Leave Act.
The MA Paid Family and Medical Leave Act applies to individuals who need time off:
• Due to a serious health condition
• To care for a newborn, newly adopted, or new foster child within the first year of the event
• To care for family while a spouse is deployed in the Armed Forces
• To care for a family member of any age with a serious health condition
Help Your Customers Privatize Massachusetts Family and Medical Leave Act Coverage
As in New York and New Jersey, states which have offered short-term disability and paid family leave for several years, business owners in Massachusetts have the option to privatize their FMLA policies for substantial cost reductions.
By law, private FMLA plans must offer benefits of the same amount and duration – or better – than plans underwritten and paid for by the state. That’s why it’s important for business owners to find a source they can trust to write their family and medical leave act coverage in Massachusetts. And that’s where DBL Center insurance brokers come in, offering stellar customer service and lower premiums thanks to the relationships their wholesale general agency has developed over five decades.
Bundle PFML to Save Even More
PFML is a stand-alone benefit, but not every carrier can write PFML as a stand-alone policy. DBL Center has the industry connections and the volume to help Massachusetts insurance brokers get the best deals for their customers.
DBL Center delivers white-glove service, low premiums, and superior benefits packages. Your clients can save even more by bundling FMLA coverage with group ancillary benefits like dental, vision, and group life / AD&D.
DBL Center Enhances Focus on Customer Service and Technology
As testament to the company’s dedication to customer service and education, DBL Center recently launched a Massachusetts Paid Family and Medical Leave Act Resource Center on its website.
DBL Center also recently introduced 24/7 live chat on its website. Simply type in the chat box and a knowledgeable representative will answer your questions about the Massachusetts Paid Family and Medical Act, short- or long-term disability insurance, and group ancillary benefits.
“Massachusetts in the fourth state in our region to introduce paid family leave. As experts in short-term disability and paid family leave in New York, New Jersey, and Connecticut, DBL Center is poised to become the number one source for brokers to privatize PFML in Massachusetts for their customers,” says DBL Center President and CEO Michael Cohen. “We’re looking forward to the profit potential the Massachusetts Paid Family and Medical Leave Act presents to our brokers.”
by Dawn Allcot
Ancillary Benefits Account Manager Annette Sperandio joined the team three years ago, at the beginning of its most recent growth phase. Coming to DBL Center from the prestigious Chernoff Diamond firm, Annette was looking for a company where she would be empowered to learn and grow in a pivotal role.
Annette’s feeling that DBL Center was about to “take off,” – combined with a certain propitious poster on the wall of Mike’s office during the initial interview — gave Annette the feeling she’d found her new home.
Mike Cohen: Remember when we interviewed? What did you say?
Annette Sperandio:There were many things that were said. [laughs] One thing I remember is sitting across from you, and seeing that Jaws movie poster, which I thought was a weird sign from my dad. My dad’s restaurant in Eastchester, NY, was called Jaws. And he had a huge following once that movie came out. It was a chops and seafood house. I was like, “What the heck are the odds of that poster being on the wall right now?”
Then I had this feeling that you were going to take off. I felt like that was a good fit for me because I was ready to take off with somebody.
Mike: That’s a good jump-off point. Where have we gone as a team since that day?
Annette: Three years ago in September I joined the DBL Center. We were in a small two-office suite. It was truly a mom-and-pop shop, and I was coming from a prestigious firm. I said, “This is going to be a great opportunity. There’s somebody here who is willing to grow.”
And we did just that. There was a trajectory set. I said tell me what I need to do, and we did just that. We grew a database – from a statutory database to now being a statutory and ancillary benefits database.
We took our knowledge together and we built upon something your dad was very passionate about, his manual ledger. We added our tech-savvy to that whole process: From the audit to the processes, to being able to create a portal, to our carrier portal.
Mike: Explain that for a moment, because you’re in the day-to-day…
Annette: We really started from the ground up. That’s because I saw a lot of influx coming in from Rich’s clients, and your clients, and even some of your dad’s clients coming by the phone, and I said, “We really have to streamline this.” It was too much in the weeds, too much getting stuck.
I knew these carriers had the capability to do online portals, and to make them user-friendly for our clients and brokers alike. Aside from that, we gave them these super-access powers that allowed them to do employee terms and adds and address updates.
We still get involved with retro terminations, but it’s good to be needed. We want to be needed, but we also want our brokers to be proactive on their own. So, we took that information and we started to train our broker community.
Mike: Don’t you feel like we’re in control for the first time? We formed the masses to get them to go in a specific direction, like the pied piper. They’re using the database and the dashboard. That function was missing before.
Annette: Yes. There was an opportunity for us, as a team, to show our customers we now have a service model. That service model was going to make the best use of these things that these carriers had been spending millions of dollars on, but so many people were not using.
Does that mean we don’t help out? No, of course not. We teach them. Then, when they need us for something, we know it’s a true and blue issue.
We have up to 150 brokers at this time using it, with two or more users on it. We get such good, positive feedback because they’re able to do things that they would originally have to [email us about]. Even if they were reaching out to the carriers themselves, that’s a 7- to 10-business day turnaround time.
Mike: And that simplicity shaves a little bit of time and fat off of everybody, internally. If we’re less stressed, the clients pick up on that, the broker’s community. They can feel it.
Annette: Yes. I think people really rely on us to get things done. If you think about the sales process, they come to you or come to me, and they say, “Here’s a census and this is what I’m looking for.”
That’s one process by itself. But then there’s implementation, which is where I take the reins. And then there’s servicing a case that’s been finalized. So, we have this tiered system in place, and they need to know the pecking order and they rely on us to get it done within a certain amount of time.
Mike: And everybody’s in their lane. And all of that – in just three years.
Annette: Yes. When I joined the team there was a start to a system. It was statutory based. And then I felt like the first six months of my being here, aside from learning the system, was changing over from our old system to the new system: adapting, changing, and tweaking it. We’ve done that for well over two years, to a point where now we’re able to give it to our broker community. We’re able to share that with people, so they can see what we’re bringing to the table. Because we’re not just a general agency.
Mike: It’s far beyond… that’s our competitive advantage.
Annette: Yes. There’s service, upon technology, upon being platinum status with our carriers.
We’re always looking to our brokers the best prices for ancillary benefits, and a lot of times, we do that by bundling DBL or TDB. We have relationships with six carriers for ancillary benefits, and nine carriers if we bundle statutory benefits. So, I look at all nine when I’m writing ancillary benefits. We’re always trying to get the best rates and provide the best service.
The Department of Financial Service (DFS), New York, has announced that the benefits under New York’s Paid Family Leave program will be increased to 60% of the average weekly wage for up to 10 weeks of leave beginning January 1, 2020. The new average annual wage will be $72,860, with a maximum weekly benefit of $840.70 per week.
The decision to increase the benefits will stay unless the Superintendent of the DFS announces a delay citing non-compliance with Workers Compensation Law 204(2).
In the first two years of the family leave program, the benefits were 50% and 55% of the average weekly wage of the eligible employees.
About Paid Family Leave in New York
New York’s Paid Family Leave program is the most comprehensive program in its category in the entire country. The program, which began in 2018, allows eligible employees to take time off to address important personal matters and still receive a portion of their salary, which can help alleviate financial concerns.
Employees can use family leave benefits to cover time off during three key events:
PFL Premiums at a Glance
The premium rate for the family leave benefits is decided by the Superintendent of DFS as stated under Insurance Law 4235(n)(1), which also mentions that these benefits need to be community rated.
The family leave program must offer similar benefits to every eligible employee, irrespective of their geographical location, age, gender, or other demographic factors.
The premium rate is the percentage of an employee’s wage. The Superintendent has established that the premium rate for the coverage starting January 1, 2020, will be 0.270% of an employee’s wages each pay period and shall not exceed a maximum annual employee contribution of $196.72. The Superintendent establishes the maximum amount that an employer is authorized to collect from employees for PFL.
PFL Represents Growing Opportunities for Brokers
When PFL was first introduced in 2018, only 27 insurers offered the program. Today, 29 insurers write PFL as a rider to DBL policies. DFS believes there will be more insurers joining next year.
All statutory disability insurers are law-bound to offer Family Leave benefits, says DFS. The DFS has also asked all relevant insurers to submit Family Leave Benefits policy forms and rates by October 1, 2019. Insurers can visit the DFS website for more information and to view a PFL checklist, submission instructions, and model rider.
DBL Center Is Here to Help Brokers Earn More with PFL
As a mandatory rider to DBL coverage, PFL represents an additional revenue stream for brokers writing statutory disability in New York.
When brokers talk to their customers about PFL, however, it also opens doors to have a conversation about enriching DBL coverage to provide a generous benefits package and peace-of-mind for all employees, including top level executives, and not just those who fit into the requirements to qualify for PFL.
Let DBL Center help you enrich DBL in New York today.
by Michael Cohen
Michael Cohen shares memories and laughs with DBL Center’s longest-running team member.
Eugene Puleo, DBL Center’s first employee, joined the company on April 1, 1983. He made a “splash” from day one when he promptly poured beer over his burger during lunch with founder David Cohen.
Even though Eugene started his tenure with the insurance wholesaler on April Fool’s Day, his dedication and hard work are no joke.
Eugene sat down recently to be the first DBL Center team member to go head-to-head, Actor’s Studio-style, with Michael Cohen. Their rapport is instantly evident on camera. Even if you missed our other DBL Center videos, this one is a must-see.
We’ve excerpted some of the best moments below. But you’ll have to watch the video to hear the burger-and-beer story and to find out why Mike calls Eugene, “the Jimmy Buffet of the insurance industry.”
Mike: When did you start with DBL Center?
Eugene: This past April 1, it’ll be 36 years. Time really flew.
Mike: What do you remember about Dave going off to Hawaii when he was expanding the business there?
Eugene: He wanted to go to another state that was statutory. California was all sold through the state. Rhode Island was all through the state. New Jersey we were dabbling in at the time. He said, “Hawaii, why not?”
Mike: I was just a kid at that time but having you in the office allowed him to make that move…
Eugene: It took him time for him to even let me do commissions. I remember your mom telling him, “Why’d you hire him? Why even have him if you’re not going to trust?”
I think over the years, your father trusted me. He was not a person to trust anybody, and I felt that he trusted me. I was there so he could do those other things, like going to Hawaii, knowing his business was in good hands.
Mike: So then fast forward: How did the industry change from the eighties to the nineties?
Eugene: The eighties just seemed like you could write anything. The Wild West. We were writing like nobody’s business.
Mike: Who was your biggest carrier back then?
Eugene: CNA was starting to phase out, and in the late eighties we began developing a relationship with Zurich. There were things going on with American Accident, then they went out. And Dave approached Zurich. They were right on Rte. 110 in Melville at the time, and Dave called John Beberich to talk. And Zurich became the number one writer.
Mike: Can you talk about how DBL Center has evolved in the past several years, especially since my dad passed away?
Eugene: It’s just [grown by] leaps and bounds. Now, the progression with you coming in, obviously, it was a good turn. You’d come in and give your father ideas. And he was a little stubborn in the beginning. You know. He was your dad. I remember you coming in and saying, “I’ve gotta pay these brokers 22 and a half [percent] because everybody else is paying 20.”
And the whole commissions thing… it was insane. We used to put commissions in manually by hand. Statements from Zurich could be this thick. [Gestures with hands.] It took time to keep track of the delinquents, log all the commissions, and everything was so antiquated. But you were there, giving your father ideas.
Now we can upload a statement a foot thick, and we can do it in a half hour. We couldn’t do it before. It’s been a total 180. Even moving into the new headquarters – I finally got a new office. And I’m still enjoying it after 36 years.
As many of us get set to celebrate Father’s Day with cookouts, laughter, and gifts for Dad, the DBL Center family decided it would be appropriate to look back at The DBL Center’s history and, especially, reminisce about founder David Cohen.
At a recent broker appreciation event at Oheka Castle, a few guests suggested we share David’s endless font of wisdom in a blog post. They didn’t know we already had the idea in the works, but their suggestions moved the topic to the top of our list.
We went from “Hey, we should…” to “Let’s do this. Now.” You can watch the video here:
It seemed right to share this post in the week leading up to Father’s Day, as David was not just a role model for his son, DBL Center President and CEO Michael Cohen, but also to the many brokers he worked with over four decades.
These financial tips and valuable wisdom will make you think, make you laugh, and give you a new perspective on growing your book of business in the insurance industry.
“Dave was like the Don Rickles of the insurance business. He tried to make it fun and I’m trying to continue that legacy,” Michael Cohen said, before sharing the anecdotes and adages that he’s used to pick up where David left off in growing the DBL Center into a top insurance wholesaler in the tri-state area.
A lot of people don’t know this, but my father wanted to be a dentist, which I think was probably what most Jewish parents at the time. Back in the ‘60s [they all] wanted their kids to be a dentist or a doctor.
He went the dentist route, and one day he got into a car accident on his way to Stony Brook dental school. The guy he hit was a life insurance salesman who said: “Hey, listen, it was clearly your fault. But I overheard you speaking to the cop and it sounds like you have half a brain because you’re going to Stony Brook’s dental program. I happen to be looking for an underwriter that has a salesman’s mouth, so why don’t you come work for me? I sell life insurance.”
It was that simple. And that life-changing.
After that he sold life insurance for a year until he met someone who introduced him to estate planning; a company called Alexander & Alexander that ended up becoming AON. They asked my father if he had thought about selling DBL, and that’s when he started to segue out of life insurance to get into statutory disability.
When he first knew that I would be starting [at DBL Center], his initial advice to me was: “If you think of it like a restaurant, you’re going to grab the mop and you’re going to start from the bottom before you get into the kitchen. There are different levels and you have to work your way up.”
I didn’t want people to think I was coming in like the prince of the kingdom. That was the first obstacle I had to get over: Proving myself to the organization. That was 15 years ago this July.
He always used to tell me, “Grow out like Los Angeles, not up like New York.” If you’re too top heavy and you’re in a very short and narrow city where everything is upwards and falls, you can lose a tremendous amount of revenue. Instead, you should focus on your nickels, dimes, and quarters and build your base and foundation that way.
The rule of 72, which is something we have written about in the past, is about how your money doubles every ten years. We’re trying to tell people that the statutory benefit hasn’t gone up in 30 years. But inflation has, so why don’t you enrich your DBL to mitigate and bridge that gap between DBL and paid family leave? That’s what we’ve been trying to do.
It’s all about retention, which is exactly what we are tracking in our broker dashboard. Our brokers receive email notifications twice a month letting them know which policies are potentially going to be canceled for non-pay. It’s one thing to know where you’re growing, but do you really know what you’re keeping or retaining?
It’s the small, steady accounts that build your foundations. That’s why David always said, “Grow out like L.A.” Take care of all your nickels, dimes and quarters, because they all make dollars; they all add up.
Too many people today don’t want that $15,000 dollar commission. They want the $100,000 commission. But my father taught me that all those $15,000 accounts add up to $100,000, and you should always treat a smaller account as if it’s worth a million dollars.
Work at what you’re good at. Do what you do best and don’t get outside of the box.
This is exactly why we do statutory disability in New York, New Jersey, Hawaii. My father opened up shop in Hawaii in 1986, and his biggest dilemma there was a cultural difference. He had to convince a Japanese guy to deal with a Jewish kid from Brooklyn in the ‘80s. It was a bit of an obstacle, but he overcame that.
We also do ancillary benefits. group life, long-term disability, dental and vision, that’s it. No major medical, no workers’ comp.
We stick to what we know best at DBL Center and we’ve been doing that since 1976.
President and CEO Michael Cohen invites top brokers to celebrate recent successes and a bright future
Long Island, home of DBL Center’s corporate office, is rich with history many residents take for granted.
Oheka Castle in Cold Spring Harbor, for instance, celebrated 100 years in 2019.
It’s been 100 years since the original owner, Otto Kahn, paid to truck dirt to the North Shore to create the highest point of Long Island. From that vantage point, he built a golf course and luxurious castle in the style of a French Chateau on Long Island’s Gold Coast.
DBL Center’s Michael Cohen chose the site for his 2019 Broker Appreciation event. The exclusive cocktail party recognized top insurance brokers, introduced DBL Center customers to the new Broker Dashboard app, and celebrated a beautiful (and long-awaited) spring day on Long Island’s North Shore.
DBL Center, like Oheka Castle, is a Long Island success story, making the location especially suitable to celebrate the success of the insurance wholesaler, now in its 43rd year, and its growing network of insurance brokers.
With the sun shining and temperatures in the 70s, the event was held outdoors on a spacious terrace adjacent to the castle’s restaurant and bar. Although largely focused on Long Island insurance agents, brokers came from as far as Westchester to enjoy the ambiance, eat and drink together.
Local artist John Herz, recently featured in Newsday, displayed his artwork, including striking full-color depictions of big cats from his African safari and numerous framed prints.
At the centerpiece of his display was a pencil drawing of DBL Center Founder David Cohen, who once called Herz “the Michelangelo of the Number Two Pencil.”
Several attendees commented that the senior Cohen was looking over the event with pride at how much his son, Michael Cohen, has evolved and advanced the family-owned business in just a few short years.
The event included long-time DBL Center brokers and newcomers to the DBL Center family. Some had passing familiarity with the new Broker Dashboard app, while others had been using it for several months to streamline managing DBL accounts.
This was not a lunch-and-learn event or a seminar. The emphasis was on networking and celebration. “I considered doing a Broker Dashboard demo, but that would have meant holding the event inside,” Michael Cohen said. “Instead, we can be outdoors enjoying the weather and the scenery. This is really just an event to appreciate my brokers and say thank you for their support and loyalty.”
“This is probably the best insurance event I’ve been to in a while. Mike always takes care of his customers and their clients, and his knowledge of the business is amazing,” said Marc Salerno, a long-time client of DBL Center and account executive for Salerno Brokerage Corp in Syosset. “I feel very appreciated.”
Many other brokers echoed Salerno’s sentiments regarding the service the DBL Center team provides, making the event one of mutual appreciation.
“The DBL Center is second-to-none when it comes to the services they provide,” said Jason Cavallo of The Hotaling Group, a New York-based independent insurance firm with a national presence. “They assist in ways no other company could ever match, let alone surpass. They’re the best.”
Brokers new to the DBL Center family also touted the advantages of working with the insurance wholesaler to streamline operations and get the most out of DBL and PFL policies.
“As a property & casualty broker, billing the DBL and PFL policies is cumbersome, and it’s a smaller line-item. It’s helpful to have an expert who wants to get in the weeds with us and make sure that whole process is streamlined,” said Matt Avellino from AC Risk Management in Melville, NY. “We believe in the team, we believe in the staff, and we’re off to a great start in the beginning of this soon-to-be longstanding relationship with Michael and DBL Center.”
While this event was focused on brokers in Nassau and Suffolk counties, The DBL Center hosts quarterly events across the New York tri-state area, including celebrations at prestigious New York City venues. “We’ve gotten great feedback about this event,” said Cohen. “Our next one will be held this summer in New Jersey as we increase our focus on TDB.”
Jason Cavallo of The Hotaling Group and DBL Center’s Michael Cohen
(l-r) Donna Cody, Avanti Associates; Lori Rose, DBL Center; Marc Salerno, Salerno Insurance; Annette Sperandio, DBL Center; Thomas Tubridy, Principal Life Insurance; Chris Metzger, Blair Insurance Agency
The DBL Center held some in house celebrations last week as we settled into our new Melville, Long Island office. But it’s not just our employees who benefit from our continued growth.
Thanks to the industry relationships we have fostered over the past 40 years as a wholesale general agency, we are in a position to offer brokers industry-high base commissions as well as bonuses for consolidating their book of business with DBL Center.
When you consolidate your book of business with DBL Center through select carriers, you’ll receive a 22.5% base commission, and a one-time bonus based on the dollar value of the new business.
When you move between $20,000 and $99,999, you’ll earn a 5% bonus on all new business. Earn a 10% one-time bonus if your book, including DBL policies under and over 50 lives, is between $100,000 and $149,000.
DBL Center is making it easy for you to move your book of business. Simply reach out to us for a spreadsheet detailing the information we need from you to help your customers make the switch. There is no need to fill out a new application for each case. Once the new policies are issued, you can cancel the existing in-force policies, save your customers money, and cash in on bonuses and generous commissions.
Earn More with PFL
These broker incentives are a direct result of the introduction of PFL, a mandatory benefit written as a rider to DBL coverage in NY.
Not every carrier is writing PFL riders, so you may be in the process of helping your customers switch carriers. By letting DBL Center shop around for DBL policies for both under and over 50 lives, you may earn better commissions on PFL. DBL Center rewards you for a business move you may have to make, anyway.
PFL has had a huge learning curve for everyone, and our brokers deserve to be rewarded for their hard work and knowledge they provide to their customers. Together with our carrier partners, we are helping PFL pay off for our brokers.
Why It Pays to Consolidate Your Book of Business
If you aren’t using DBL Center for DBL over and under 50 lives, you could be missing out on high commissions, bonuses, white-glove service, and the convenience of using one wholesale general agency for your whole book of statutory business. Having one point of contact, a professional you can trust if you have questions or need personalized service, is always easier. As DBL Center continues to grow, we can offer even more to our loyal brokers.
This fall, we will introduce our new broker dashboard, making it even easier for you to track all your DBL business and revenue from one intuitive app.
The DBL Center team keeps working hard to offer our brokers more and to make it easy to do business with us.
With our new broker incentives package, there was never a better time to trust us to write your disability policies, ancillary benefits packages, and more.
Let us know how DBL Center can serve you today.
The DBL Center held a summer celebration at Prime in Huntington on the Long Island Sound.
The team, led by Michael Cohen, has plenty to celebrate in 2018. We have a new office in Melville and we’re getting set for the launch of our Broker Dashboard this fall, followed by the introduction of our Net Revenue Tracker (NRT) software.
We’d like to take this chance to give you a peek into life at DBL Center.
You’ll get to know us a little bit better. And maybe understand exactly how – and why – white-glove service is a core part of our company mission and how important our brokers are to us.
The DBL Center has always been a family-owned company. And our employees are a lot like family, too.
With this in mind, picture your most boisterous family meal, and you could imagine our lunch at Prime.
There was lots of great food, many laughs, and great stories from great storytellers. (We have many in the DBL extended family). As the conversation meandered to family traditions, there were strong reminders of where we came from and some talk of where we are going.
Our new office at 155 Pinelawn Road in Melville, a few miles south of our prior location and near prestigious Long Island companies like Newsday and Estee Lauder, gives The DBL Center more space and more amenities. With room to grow within our suite, the office boasts an open floor plan that allows our team to work more closely in alignment. We are all here to help each other.
On a summer Friday afternoon, the office spaces are filled with laughter. The atmosphere makes us more eager to work and happy to provide our brokers with the service they expect. Productivity, creativity, and idea-sharing are all enhanced as DBL Center prepares to enter its next stage of growth.
In the doorway of the office suite to greet visitors and employees is an original drawn portrait of founder David Cohen by local artist and family friend John D. Herz, who David often called, “the Michelangelo of the #2 pencil.” The image reminds us, daily, of why it’s so important to continue living up to our founder’s vision of white-glove service.
Of course, the new office space boasts all the expected amenities. New, ergonomic office chairs were specially chosen for our employees’ comfort and enhanced productivity. In addition to the large conference table in the common area, there is a conference space in president Michael Cohen’s office, where he records our popular webinar series that covers topics like Paid Family Leave, and a screen to show WebEx demos of our new NRT software to brokers.
As DBL Center continues to expand in every way, we have more resources to serve our brokers better, faster, and with the level of attention you expect and deserve. Our webinars and website are just a few examples of how we’ve evolved for the better in the past few years, and our new office is the next step in that evolution.
As our sales volume increases, it puts us in an even better position to negotiate with carriers to secure the best deals for our brokers.
Yet, DBL Center will never forget our roots and will never neglect the personalized service we have offered for more than 40 years. We may grow larger, with nicer offices and more personnel, but we won’t ever become a “big box” insurance wholesaler.
We maintain true to David Cohen’s vision of a “boutique” insurance agency dedicated to serving our brokers, even as we leverage today’s technology to do so in new and more effective ways.
Drop us a line and let us know how we can serve you today.
It’s tax season once again and for insurance brokers, it’s also a good time to reflect on ways to improve business efficiency in your insurance agency.
For small to mid-size businesses in New York and New Jersey, including many DBL Center brokers, March means working with your tax accountant, sorting through receipts and expenses, running QuickBooks reports, and reviewing your annual revenue.
But there is a lot of data hidden inside those numbers besides just how much you owe the I.R.S. Are you tracking and leveraging your business analytics to their full capacity? The DBL Center is introducing a tool that will allow property & casualty and other licensed agents the ability to do just that.
QuickBooks and other accounting software provides reports to help you track income and expenses, but it is not tailored to an insurance agency. You can’t view the profitability of different types of insurance or different types of customers. You can’t track cancellation trends so you can improve customer retention. And you can’t reliably predict cash flow or opportunities for growth without a way to track renewals.
CRM software can help your insurance agency sales team track leads to generate new business. But someone in your office has to input the data and your sales team has to be invested enough in the process to use it.
Our new Net Revenue Tracker is tailored to P&C insurance brokers to help you manage all your accounts and spot opportunities for growth. It connects directly to your DBL Center back office so all the analytics you need are at your fingertips at any time, wherever you may be. The cloud-based software functions seamlessly and securely on any internet-enabled device, including a desktop PC or Mac, laptop, or Android- or iOs-based smartphone or tablet.
The Net Revenue Tracker provides the information most important to help you grow your book of business, enabling you to track the profitability of specific accounts, track policy renewal dates so you can be proactive about renewals and up-sells, and view important business metrics at a glance.
You can view accounts by carrier to see where you might want to diversify to protect your business interests, and where it might benefit your customers to consolidate for better coverage and lower premiums.
And because it is based on software we’ve used here at The DBL Center for years, we know it is user-friendly to help you increase efficiency and streamline your business processes.
As you’re assessing your business processes to increase efficiencies and track your revenue more effectively, it’s also important to begin thinking about tax strategies for 2018.
This year’s tax season should be straightforward for most insurance brokers, or at least business as usual. The big changes went into effect beginning this year and will be reflected on corporate taxes filed in March 2019. Talk to your tax accountant about the new tax laws and how they may affect your business — and your customers’ businesses, for that matter.
With reduced or eliminated deductions for fringe benefits like transportation, meals and entertainment, employers and HR directors may be looking to enrich disability coverage and ancillary benefits to recruit and retain top talent. Our Net Revenue Tracker can help you spot these opportunities for increased sales with existing customers at your New York insurance agency.
Be one of the first brokers to catch a sneak preview of the software in a live webinar demonstration.
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For 41 years, The DBL Center has provided brokers with white glove service and the lowest insurance premiums available for enriched DBL, ancillary benefits, group life, and more. As the industry changes, we stay ahead of the curve to deliver greater value.
We’ve always believed in the adage, “You can’t improve what you don’t measure.” DBL Center Founder David Cohen had an almost-compulsive need to pay close attention to the details. In our office, we have a database that allows us to track every account, see at a glance when renewals are due, and track our total revenue. We’ve been doing this so long, we almost took the value of it for granted.
In talking with our customers, we learned that many insurance brokers have no simple way to track revenue, new business, or cancelled policies at a glance. Most agree this information would be valuable. They just don’t have the means to do it.
Conventional CRM software doesn’t work for insurance brokers. Accounting software can provide part of the picture, but not everything a broker needs. Most major industries, from healthcare to IT, have their own software that tracks and reports the information relevant to that specific field.
Why shouldn’t brokers have a way to track their statutory and group ancillary business?
That’s when we set our programmers on a new task: To create a software program for our customers that would give them actionable insights for business development in an easy-to-read interface.
For the past year, we’ve been working on a software application that will let our brokers manage their accounts and track their commissions from anywhere. Because we know our brokers spend a lot of time on the road, having this information at their fingertips makes it easier for them to serve their customers and write new business because every dollar counts in this industry.
Our new mobile-friendly broker dashboard, the NRT (Net Revenue Tracker) will help brokers who put their business with the DBL Center stay ahead of the competition and see their bottom line in real time. Because success is not created by what you earn, but by what you keep.
Would you like to:
Our developers are hard at work, right now, creating the Net Revenue Tracker software, which will do all of this and more for DBL Center brokers.
The Net Revenue Tracker will allow brokers to:
Time-tested Platform Gives Our Brokers the Edge
The DBL Center has been relying on software to track our net revenue and growth for more than a decade now. Our time-tested platform of proven business development tools will give our brokers the edge. The Net Revenue Tracker provides deep analytics and actionable information for business growth in a convenient format.
With 41 years in the insurance business, The DBL Center has learned a few things about business processes. We know how important it is to pay attention to the finer details and track your results for consistent growth.
Isn’t It Time Be An Early Adopter?
If you aren’t tracking your revenue in a reliable way, or if your current platform falls short of what you need, we invite you to give us a call for a quick demo of our software solution.