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.
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.
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.
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.
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.
by Michael Cohen
In our latest video series, The DBL Center marketing team turned the tables on Michael Cohen to interview the DBL Center President about recent initiatives and how The DBL Center has coped with the pandemic.
Now more than ever, The DBL Center remains focused on providing our brokers with free tools they can use to stay competitive and remain profitable in these challenging times.
Read on for excerpts from our three-part interview with Michael Cohen and be sure to check out the videos and subscribe to our YouTube channel to see our video content as it goes live.
Dawn Allcot: What’s been the reaction to The DBL Center’s recent marketing content – the videos, blog posts, and direct email campaigns?
Michael Cohen: Our read ratio is triple what it used to be. You always say it’s a matter of putting out good content, but it’s also a matter of not putting out redundant content. In the beginning of the [pandemic], we were getting things out quickly, but we didn’t want it to be laborious. There’s only so much people can understand about the loans and about unemployment. There has to be a shift. People got accustomed to reading the same things everywhere.
Dawn: The content we did was targeted to our audience, so it wasn’t the same things they are reading everywhere else. People can follow links to find out how to apply for the PPP loans. The Covid qualifying software you came up with really set DBL Center apart.
Michael: It’s an antiquated business and people know it. I’ll be the first to say it. These tools help set us apart. I’m happy with where we’re going, and I do think it’s going to be a unique, creative year. Everything I’ve done, and am doing, and have been building over the past 36 months has come to the point where it will be a differentiator in a very positive light. I feel very strongly about next year and I’m excited.
Dawn: On the topic of tools and resources, how does the Broker Dashboard: Net Revenue Tracker help your brokers?
Michael: No one really had a great grasp on where their business was. Because most people were elephant hunting and chasing things that my father would always tell me would be top heavy.
One of the things I’ve been able to do is use the software to help show brokers the profitability in the smaller accounts. Those are the companies that are predominantly relying on the PPP loan, and have people who have been furloughed due to unemployment. What happens when the money runs out?
The tool has been able to help brokers understand the retention aspect. Now on the cusp of unemployment maybe being a month from being over, the real question is how much of the relief and aid will stick and help the businesses survive?
Dawn: And you’re offering the Broker Dashboard completely free of charge to your brokers.
Michael: I don’t want to charge anybody so they can track their business. It’s been terrific during the pandemic in helping people know where their business is down to the dollar, because we don’t know what’s going to stick.
Dawn: Besides the Broker Dashboard: Net Revenue Tracker, what else are you doing to help your brokers thrive and grow?
Michael: I’ve been giving away free advice from friends of mine in the business who are influencers, including your interview with Kelvin Joseph from Kool Kel Marketing. The point we were trying to get across there is the power of relationships.
My business has expanded greatly in other states, predominantly because of my LinkedIn strategies and how many people I know. Between myself and my buddy Kelvin, we reach 100,000 individual touch points on LinkedIn. Every day, I get a lead in some form, that I can help give back [to our brokers].
The advice I’ve been given from my father, I’ve been able to funnel through our content marketing strategy and give back to the brokers’ community in my own words. The Broker Dashboard, LinkedIn, and our website resources are the three primary ways we’ve been able to give back for free to our brokers.
Watch the full three-part series of videos here:
by Dawn Allcot
Since my father, David Cohen, first founded The DBL Center back in 1976, we have always focused on concierge-level service for our brokers. My father liked to frequent boutique hotels on vacation, and he wanted to model that personalized service as an insurance wholesaler in NY.
That level of service wasn’t seen in the insurance industry at that time. Now, more than four decades later, The DBL Center continues breaking new ground as a wholesale insurance broker.
In the past few years, we’ve begun leveraging technology to provide the best service to our brokers, staying on the cutting edge of industry news, and delivering resources brokers need to retain business, remain competitive, and deliver the highest level of service to their clients.
You may have noticed some new features and functionality added to our website recently. Let us walk you through the ways we are using technology to help our insurance brokers grow their book of business.
Chat-bots are all the rage on customer service-oriented websites today. They make it easy for customers to get answers to their questions round-the-clock.
The problem? You never know if you’re speaking to a real, knowledgeable company representative or a sophisticated artificial intelligence (AI) program with only basic, high-level answers.
The 24/7 chat feature on The DBL Center website always connects you directly to a wholesale insurance expert with answers to every question you might have. We don’t outsource the service. You are always chatting with one of The DBL Center team. We can answer questions or take it to the next level and jump on the phone to help you write your NJ TDB, New York DBL or enriched DBL coverage, or Massachusetts PFML policies immediately, along with Group Ancillary Benefits.
If you reach out after business hours, we may have to wait until the next business day to provide you with an accurate quote from our top-rated carriers. But we can get the process started at any time. It’s just one more way we are able to provide personalized service as an insurance wholesaler in NY and beyond.
Our proprietary Broker Dashboard continues to grow in popularity, giving insurance brokers a way to track renewals, cancellations, and commissions easily. This became extremely valuable during the Q4 2019, when we helped Shelterpoint transition 5,000+ Statutory policies from Wesco to their company.
Brokers receive bi-monthly reminders about cases that are pending non-pay, helping carriers like Shelterpoint and Standard Security receive payment in a timely manner. This also helps our brokers avoid losing business due to non-paying customers who might decide to write the policy somewhere else. Not only are we a full-service insurance wholesaler in NY, but your back-office team. Just think of Broker Dashboard as your “friendly neighborhood bill collector.”
We’re also using the data from Broker Dashboard to gain insights that will help us serve our brokers better. Your information – and your customers’ information – remains completely secure and confidential in the Broker Dashboard app. But we can track trends that will help us provide the best products, be more proactive about pending cancellations, and learn why clients switch carriers. This knowledge will help us provide more of the products and service your clients need and want.
Maintaining our position as a top insurance wholesaler in NY means being as responsive as possible to our clients’ needs – and that includes our website. No one has time to sit around waiting for pages to load anymore. Whether you want to read our latest blog post, need information on Massachusetts PFML or need a quote for enriched DBL under 50 lives, you need our site to load in a snap – wherever you might be.
We recently updated our website with the latest technology, enabling it to load more quickly on mobile devices so we can serve our brokers better – even faster!
The DBL Center prides ourselves on combining disruptive technology with the personalized service that was so important to David Cohen when he started the company. From our new chat function to our video series, we are on top of the trends that make it easier to stay connected to our brokers, delivering the service you’d expect from a top insurance wholesaler in NY and beyond.
HR directors, recruiters, small business owners, and CEOs, especially in the fields of healthcare and the tech sector, where top employees are in high demand, frequently seek ways to differentiate their company and attract the best talent.
Some companies resort to gimmicks, others to generous BYOD policies that leave their IT departments scrambling and their systems at a security risk, but nearly every top company wants to find easy, affordable ways to entice employees.
Additionally, companies struggle with maintaining a desirable corporate culture and high employee morale.
The smartest organizations often find the answers to the recruiting and retention dilemmas in competitive benefits packages.
With health insurance premiums on the rise, many employers are filling the gaps with ancillary coverage in the form of vision coverage, dental benefits, and Group Life / AD&D insurance for their employees. We see this in action everyday here at The DBL Center, as we write hundreds of policies each month ancillary benefits and enriched DBL coverage for insurance brokers, as well as our direct corporate customers.
That’s why when DBL Center partner Michael Cohen had the opportunity to share his thoughts with top recruiting and job finding site, CareerCo.com, he didn’t hesitate. In an informative piece designed to educate HR directors and CEOs on additional benefits they can offer to raise employee morale and improve recruiting and retention, Cohen touted the advantages of life insurance, vision, and dental coverage. You can read the full article, and learn about the five benefits that help companies attract top talent, here.
As The DBL Center grows, with our new website, a newsletter, weekly tips and insight on the state of the insurance industry, and new clients every day, we are in an even better position to help our customers. It’s all part of the white glove service we provide to brokers every day as a top insurance wholesaler.
From mentoring and guiding new brokers, managing an experienced brokers’ book of business so he can continue his own expansion, or reaching out directly to those who make the insurance purchasing decisions to help them with their choices, we are here to do so much more than sell insurance. We are here to share our knowledge and experience in order to help our customers earn more commission and help the industry to grow.
Look for more from us, on this page, through social media channels, and across the web, as we share our views on enhanced disability coverage, ancillary group benefits, and how to make it all work for you, whether you’re a broker or a buyer.
Would you like to connect with us? Follow us on LinkedIn or reach out here with questions, comments, or topics you’d like to see us cover.