The old adage, “wasted time is wasted money” comes into action with Brokers knocking on doors, following up with HR, over and over again; not smart business for your Brokerage Partners. Brokers want the products and tools that meet their needs and the needs of their clients now, and Brokers NEED the ability to remotely enroll.
Focused on Small Businesses
A portion of the workforce, small businesses, are consistently underserved when it comes to their healthcare options. According to the 2016 US census, 98% of the companies in the United States employ less than 100 people, and 89% have 20 employees or less. That’s a huge segment of the market that is being pushed to the side because of the time and cost it currently takes to enroll and service these businesses. The already underserved small group market gets even less attention, because brokers are only willing to invest time and energy into large accounts because there is a higher ROI, meaning small businesses are often left without the invaluable help of a Broker on their side.
Seeing this contrast in business size and enrollment, it further became evident that a void existed in insurance sales technology and Brokers needed a platform that would facilitate selling healthcare coverage to clients remotely while enabling the automation of the end-to-end workflow from plan offering selection to plan administration and support. This would allow all business to be better served by the Broker.
Healthcare Technology Revolution
The Insurance industry has been revolutionized through innovation from MyHealthily, their technology simplifies the sales process from beginning to end. MGAs and Wholesalers now are able to provide this white-labeled platform and enable Brokers access to the best remote insurance technology as well as the support of a variety of products.
MyHealthily empowers MGAs and Wholesalers by providing them a digital platform maintaining the Wholesaler Brand, Business and Brokerage. This technology enables health insurance Brokers to analyze current and potential risks as well as provide viable solutions to help businesses, regardless if the company has 1 employee or 5,000 employees. This innovative technology can be utilized for plan selection, employee onboarding, benefit administration and claims management. As demonstrated by the pandemic of 2020, the ability to service remotely, using state of the art technology to enable healthcare solutions, is not just useful but necessary.
The platform features enable the monitoring and management of the performance of Agencies, Clients, and Producers. This white label solution offers a fully automated platform using the Wholesaler-Brokers’ or Customers’ branding. This remote, fully integrated solution from MyHealthily enables the Wholesaler Brokers to have the ability to maintain their brand, their commission, and their customers, as well.
There is Another Consideration
Now is a good time to look at your Brokerage Agency Partners. Difficult to admit, but the average age of an insurance Broker is 60 years old and perhaps there is a reason why – this generation historically has a comfort level with their own way of doing things. The old ways were tried and true, but reaching customers, and retaining them, in today’s digital world has evolved with modern technology leading the way. Technology is changing prospecting and customer retention for Brokers in a number of meaningful ways. Introducing technology to a Brokerage firm welcomes millennial brokers who have a comfort level with social media, apps that facilitate remote meetings and have a facility to work with a platform that enables client solutions, all while building a team of successful next generation Brokers.
This doesn’t mean that the seasoned baby boomer generation of Brokers needs to fear being a part of something that is changing the face of the brokerage industry. This intuitive groundbreaking software offers a fully automated platform, supported by a team that only wants your Brokers to succeed.
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Schedule a Calendar appointment to have a MyHealthily representative reach out to learn what we can do for your Association.