New Year, New You: New Year New You!: 5 Ways to Diversify Your Portfolio in 2024

5 Ways Health Insurance brokers can diversify their portfolio

It’s 2024! The year of the dragon in the Chinese horoscope. Did you make any resolutions for the new year? What’s on your agenda for the next 12 months?

If you want to expand your sales this year, here are five ideas to help make it happen.

1: Start Selling Large Group

We have the expertise you’re looking for if you are new to selling groups of 101+ in California or 51+ in Nevada. If you are already selling Large Group, when was the last time you really “shopped” for your client? The market is changing, so it might be time. We’ll work you to strategize, quote, enroll, close, and renew more Large Group business in 2024. Contact your Word & Brown rep today, or visit our website for more information.

2: Bundle Major Medical with Ancillary products

Word & Brown has a broad array of Ancillary carrier and administrator partners. We offer Dental, Vision, Disability, Life, Supplemental Health (like Critical Illness, Terminal Illness, Accident, as well as other products), and Worksite/Voluntary products for small and larger groups. View our full carrier rosters for California and Nevada online.

3: Start a referral program

Referrals are an important way to generate new leads for your agency. Offering a reward to current customers for their leads may prompt more to share them with you. Client referrals lend credibility to you, which you can take to the bank. In considering a possible gift for referring clients, make it something they’ll appreciate but something not so substantial it could be considered a violation of compliance guidelines concerning gifts.

4: Offer compliance expertise

Our in-house WBCompliance team is here to simplify compliance for you and your clients. We share information in a variety of ways to help you stay up to date of the latest issues concerning employer reporting, changing benefits regulations, and laws that could affect you, your clients’ businesses, and their employees. Our new Compliance wiki can also help you. Introduced in late 2023, this new resource gives brokers and clients a place to easily – and quickly – look up compliance-related topics to get the answers you need. You no longer have to wade through lots of PDFs or web pages. The wiki search feature gives you, your staff, and clients the ability to find exactly what they’re looking for – in seconds.

5: Propose Workers’ Compensation Insurance

You can offer Workers’ Comp to clients through special arrangement with CompNet Insurance Solutions, Inc. There’s no P&C license is required for you. CompNet is devoted to making Workers’ Comp easy, fast, accessible, and affordable. Berkshire Hathaway Guard, an A.M. Best “A+” (Superior) rated carrier, underwrites Workers’ Comp coverage. For each of your clients who selects Workers’ Comp from CompNet, you’ll earn a referral fee.

Learn more by linking to CompNet or by calling 508-397-7906.

Word & Brown is committed to you and your continued success in 2024. If you want to find out how our partnership with you can help write more and earn more, contact your Word & Brown representative.

We have been working with brokers for nearly 40 years. We offer you more than just great service. We do it all – sales strategy, quoting, enrollment, compliance, training and education, value-added extras, renewal prep, and much more. If you’re not already working with us, call us at 800-869-6989 or complete our form.

How Much Can You Earn as an Insurance Broker?

Find out what you can be earning as an insurance agent in our handy, up-to-date salary guide. Produced by our in-house experts, this resource is bound to help you in advancing your career.

Word & Brown Salary Guide