Dynamis Blog

How to present the self-funded alternative flawlessly

Posted by DanMorrill on Aug 3, 2015 9:48:00 PM

In our last blog, we talked about how discussing self-funding with your smaller clients and prospects can be a differentiator for you as a broker. Today, we’ll share some tips for how to present a self-funded alternative, as it may be unfamiliar to your client and different from the presentations you are used to giving.

Use a visual presentation tool

Because self-funding is unfamiliar to many small employers, it can be a tricky conversation to have. The best way to introduce this option is visually, so your client or prospect can more easily comprehend the specifics and ask meaningful questions.

Technology tools available today, such as the Dynamic Plan Designer, allow you to build and present plan models to clients interactively, fostering an engaging conversation. Here are some tips to nail your presentation using a digital presentation tool:

  • Come prepared with creative plan options: Prior to a meeting, you’ll hopefully know your client’s budget, employee needs and general business goals. With that in mind, build a couple of creative self-funded plan options that are tailored to the client’s needs and unlike offerings they’d be able to obtain in the fully insured marketplace.
  • Compare side-by-side with their current plan: For employers who’ve only ever had a fully insured benefits plan, self-funding will be new and uncertain. Compare your self-funded option with their current (or projected renewal) plan, to give them a visual indication of what exactly the differences are. This is a great way to start the conversation and prompt questions.
  • Adjust on the spot: One of the benefits of using a digital presentation tool is that you can model plans and then make changes in real-time, to make your meeting more impactful and productive. Start with the plan(s) you brought in, and then adjust based on your client’s questions or feedback. Many brokers using this tool close their renewal or walk away with a BOR in just one meeting thanks to this efficiency.

Be prepared to educate

Your client or prospect will likely have many questions about self-funding, and there will also be important topics that they don’t even know to ask about. Be sure to cover all the basics, including:

Consider bringing in educational resources on these topics to leave behind for your clients, so they have more in-depth materials to read after your meeting if they have additional questions.

Want to learn more about the benefits of self-funding for small groups, or how to present the strategy like a pro? Take a look at our newest e-book, Self-Funding for Small Groups.

Topics: Differentiation, Client Service, Renewal Strategies, Sales/Prospecting, Self Funding