For Insurance Agents

How Well Do You Listen To Your Customers?
 Are you regarded as a good listener? How do you know? In my opinion, active listening is one of those skills which requires constant attention and practice. I still find myself once in a while interrupting when I shouldn’t or thinking about what I am going to say next in a conversation and forget what a person was stating to me- yikes! This is not good practice, especially in a sales/customer service situation.

 Therefore, if you find yourself in the same predicament from time to time, remember that active listening is crucial when determining the needs of a customer and providing the best products for them. Active listening involves more than just listening…active listening involves probing for more information, paraphrasing, and acknowledgement that you are listening. If you do not listen well, you may lose a sale.

 Here’s a fun listening exercise that I participated in during a training class a few years back (however, it’s better facilitated as a listening exercise- not a reading exercise). It goes like this:

 You are the bus driver. At stop #1 three people got on the bus, one of them was wearing a blue baseball cap. At stop # 2, five people got on and one exited the bus. At stop #3 two people got on, one person was carrying a bag and the person with the blue baseball cap got off. What is the bus driver’s age?

 If you answered the age, which is yours by the way since you are the bus driver, then you passed! If not, then that’s okay, this exercise is a reminder to us all to make the effort to listen effectively to our customers. (Keep in mind that this exercise should be provided verbally in order to be effective)

 Have some fun with your co-workers and see who can pass the listening test!

Social Networking Insurance for Business

If you’re a young agent well versed in using the Web for business, you’re probably familiar with online social networking sites like Twitter, LinkedIn and Facebook. Sites like these hold much promise for the future, as insurance customers wander around online, chat with friends and business associates and talk about their lives.

Why not make insurance part of that discussion? And why not meet customers online, right where they are, and do business where they’re most comfortable?

According to the Auto Insurance Report, insurance companies like State Farm are joining the world of social networking, attempting to connect with and service customers all over the country.

And sites like these aren’t just for young people and companies anymore–or for corporations. Small agencies and individual agents are also finding their voice in social media, amidst everyone else looking for a piece of the pie. There they can answer questions, dispell myths, offer service and talk about breaking news in the insurance industry that might affect their customers.

Rather than pretending their clients have nothing but good to say about them and tuning any negative remarks out, insurers are wise to listen up, participate in the discussion and know what’s being asked and said about them online. This immediately puts them on the offense, rather than the defense, and offers the opportunity to inform, engage and connect with customers–instead of playing damage control after the fact.

Not only that, but by tweeting on Twitter or posting comments on their Facebook wall that link back to their own Web sites, agents who participate in social media strategies can increase their business by driving potential customers who need insurance directly to their own contact information.

Are you using online social media sites to increase business opportunity? If you’ve never made use of sites like Twitter, LinkedIn or Facebook in growing your business, we recommend you check them out. If you have, drop us a comment and let us know how it’s working out for you.

Though it does take some time and effort to establish a “following” of existing and potentially new customers, it could be well worth the time you put into it when examining your bottom line.

Insurance Agents Social Network

Health Insurance 101: Your questions Answered

Getting informed before you purchase health insurance is the best way to ensure the most affordable rate. Read on to shed some light on some of your tough questions.

What are the different types of managed care?

There are three main types of managed care.

• Preferred Provider Organization (PPO): If you opt for a PPO, you have access to a network of health care specialists. You may choose a health care provider from within your network or a non-network health care provider. You pay more if you choose to go out of network.
• Health Maintenance Organization (HMO): An HMO requires a co-payment to an in-network physician. However, an HMO will not pay for services you receive outside the network. You choose a primary care physician and they become the gatekeeper to your health care. You must obtain a referral, if you seek specialty care.
• Point of Service (POS or Open Access HMO): With this insurance plan is, you can go out of network. But you won’t be reimbursed the full amount—usually only 50 to 80 percent.

What is an HSA?

An HSA is a health Savings Account, which is used along with a High Deductible Health Plan (HDHP).

If you choose an HSA, you put tax-sheltered money into a savings account. When you become ill or injured, you use the money in your account to pay for your medical care. If the cost of service exceeds the deductible of your HDHP, the insurance company pays the excess.

This is a good way to save money on health care, because you only pay when you seek service and are not required to pay a monthly premium. However, if you have a health condition or partake in some dangerous hobbies, you are probably better off with a traditional plan.

What’s the difference between a premium, deductible, co-payment and co-insurance?

A premium is the total monthly or annual amount you pay toward your policy.

A deductible is the amount you must pay before your health plan begins paying your health care expenses.

A co-payment is the amount you pay when you receive care. The amount varies depending on your plan and whether you go to an in-network provider.
Usually a percentage, co-insurance is the part of health care you pay along with your deductible.

What is a preexisting condition?

A pre-existing condition is usually a health issue that arose before you applied for coverage with a new insurer. Whether a pre-existing condition is covered by a new insurer varies from plan to plan, insurer to insurer. Some preexisting health conditions are excluded entirely, some are fully covered and some are covered after a specific amount of time. The Health Insurance Portability and Accountability Act guarantees coverage for pre-existing conditions if you are joining a new group plan from your employer and you were insured the previous twelve months.

Will my health insurance pay for my prescriptions?

In most cases, you will have to co-pay for prescriptions. Depending on your plan, certain types of prescriptions may not be covered, such as oral contraceptives or hormone replacement therapy. And if you opt for the generic version of the drug, you will pay a significantly lower price for a comparable product.

Will my insurance rates increase as I get older?

As you age, your risk for certain health conditions increases. For example, women are more susceptible to breast cancer after age 40. Insurance underwriters take those statistics into account when determining your rates. But as health care continues to improve, certain conditions no longer guarantee you a higher insurance rate, such as high cholesterol or blood pressure.

How do I find the right insurance at an affordable price?

Individual health insurance is still rather costly because most people are insured by their employer. If you are self-employed or your employer does not offer coverage, your best bet is to shop around. Use our quote box to request multiple quotes from top insurance companies!