Selling NY State Disability Insurance: Getting Creative in the Time of Covid-19

The insurance business, especially for those involved in selling statutory benefits like NY State disability insurance (NYS DBL coverage), has always been based on relationships.

The relationships between brokers and their customers, carriers and general agencies, and the wholesale insurance agency and its brokers, all make it easier to create the best benefits packages with the lowest premiums.

Just before New York started Phase 1 of its reopening initiative, Michael Cohen, DBL Center President and CEO, sat down – remotely – with Charles Callery, Regional VP for Lincoln Financial, and Michael Pelligrino, Lincoln Financial sales representative. The three pros talked about maintaining relationships and selling NY state disability insurance in the time of Covid-19.

You can watch part 1 of the video here.

Cohen took the call to record the Remote Rep Roundtable from his Melville office before his employees had come back to work, while Callery admitted he’d been fielding video conferences from his son’s bedroom.

Pelligrino quipped, “I’m sitting here just hoping my one-year old baby doesn’t wake up crying,” reflecting one of the familiar challenges faced by parents suddenly forced into working from home, often without viable daycare for little ones.

Although they were in different locations, the NY state disability insurance experts displayed the camaraderie they’d shared over the years. They shared how they first met, and then got to talking about how they’re modifying their businesses to remain relevant – and successful – amidst the challenges of a global pandemic that requires social distancing and remote work.

Callery advised brokers and reps: “Lean into your style. Don’t do anything out of your comfort level. Don’t force it.”

Lincoln Financial began developing podcasts and increasing their social media presence, but Callery also encouraged reps to find what works for them. “The folks who were accustomed to using LinkedIn continued to do that and they enhanced their presence. We had other reps establish weekly WebEx-type meetings,” Callery said.

Pelligrino, on the ground regularly as a sales rep, said he’s seen remote work increasing over the past five to seven years, and the pandemic has accelerated the trend. “I’d been seeing a lot more offices where maybe only 50% of the people are there, because a lot more people were starting to work from home. You have to be more creative, as a rep, to get that captive audience, and WebEx is one way to do it.”

“Experiencing [the pandemic] was almost like the five stages of grieving,” said Cohen, adding that he feels the industry has entered the “acceptance” phase. “We are all entrepreneurs and driven salespeople, type A personality. Let’s get creative and figure this out, because we’re all hungry to get back to work.”

Callery said he remains optimistic about business picking up in the late third to fourth quarter. “I think we will get back to close to where we were,” he said. “I do believe some creative aspects of doing business differently will come out of this experience, for sure.”

Watch the video to learn more about the shared history between Lincoln Financial and DBL Center and to hear the rest of their tips for connecting during Covid-19.

 


DBL Center Helps Its Carriers with COVID-19 Pre-screening Software

Within the first few days of the coronavirus pandemic and the New York On Pause order, DBL Center President and CEO Michael Cohen felt the same as many of those in the insurance business did.

“When I first got news of this being a reality in New York, which is now a hot spot, I felt like I was back up against a wall,” he recalls. “I was nervous.”

He sprung to action immediately, though. He took what he learned from his decades in the statutory insurance industry and his knowledge of what technology can accomplish to create a solution to slow the onslaught of PFL claims. “I felt I had to do something to mitigate the claims,” Cohen says.

Within days of schools and businesses closing across New York State, and shortly after, through Massachusetts and New Jersey, Cohen and The DBL Center launched the COVID-19 Pre-Screening Software for PFL Claims.

PFL or FFCRA? COVID-19 Pre-Screening App Pre-Qualifies Claims

A tool for insurance carriers to manage PFL claims that may not qualify, the COVID-19 pre-screening software requires employers to answer a series of questions to determine if their PFL claim is valid before requesting a claim form from the carrier. Many statutory PFL claims actually qualify for federal help under the Families First Coronavirus Response Act (FFCRA), which was enacted April 2, 2020.

The DBL Center also created a document to help show when an employee may qualify for PFL and when an employee would qualify for FFCRA aid, instead.

“Even though the changes related to PFL and FMLA [in Massachusetts] have been clearly stated, you’re still going to have some confusion at the employer level in terms of what is a valid COVID claim and what is not a valid COVID claim,” says Charles Callery, Regional VP for Lincoln Financial, one of DBL Center’s many preferred carriers. “I thought the software was perfect for that scenario.”

He added that he also sees it having long-term applications once the pandemic ends. “In general, it can help cut down on some of the administrative costs that we incur, and that others occur, taking in paper claims. I bet the industry still sees the majority of our claims in paper form, versus electronic, and this is a good first step to enter the electronic environment. It’s something the industry could use, because it pre-qualifies a lot of claims upfront.”

Following in the Footsteps of the Broker Dashboard Net Revenue Tracker

The Broker Dashboard Net Revenue Tracker was the first technological innovation from The DBL Center, an electronic version of the paper and pen ledger that Founder David Cohen brought to every meeting.

Designed specifically for DBL Center brokers, the Broker Dashboard helps agencies track cancellations and pending cancellations, new policies, and commissions, at a glance. A cloud-based app that gives brokers actionable insights to improve retention rates, the Broker Dashboard brings David Cohen’s paper ledger into the digital age and delivers it to the hands of every broker.

Michael Pellegrino, Lincoln Financial sales representative, reminisced about the way DBL Center tracked revenue when he first entered the industry. “I remember I’d come into your father’s office,” he tells Michael Cohen in the latest Rep Roundtable video. “He’d put down his pen and paper. He was keeping everything in order, but how time-consuming it must have been. “The fact that you took that pen and paper ledger and made that electronic is awesome!”

Watch the Video to Learn More

In addition to discussing the technology that sets The DBL Center apart, Cohen, Callery, and Pellegrino reminisce about summer get-togethers and talk about how the economy and the industry have changed in the past 20 years. Michael Cohen also reveals his secret to surviving the pandemic … all in the latest Rep Roundtable, brought to you by The DBL Center.