Dynamis Blog

9 Reasons It’s Time to Ditch the Spreadsheets & Upgrade Your Renewal Process

Posted by AndyNunemaker on Sep 27, 2018 10:51:11 AM


Despite the influx of technology, many insurance brokers still present renewals the same way they did 20 years ago. Still using spreadsheets? Check out the list below for 9 reasons it’s time to upgrade your renewal process using technology, like Dynamis’ Dynamic Plan Designer tool.

You’ll also see reactions and testimonials from brokers and employers who have experienced the Dynamis plan modeling tool.


1. Retain your best clients

Did you know that employers HATE spreadsheet-based renewals? Spreadsheets are confusing, lengthy and frustrating, making it difficult for clients to make educated decisions.

Employer responses after their broker switched to a plan modeling solution:

  • “The best renewal process we’ve ever had!”
  • “This is so much more relevant and easy to follow.”
  • “I’ll never go back to spreadsheets!”
  • “Why didn’t I switch brokers sooner?”


2. Wrap up renewals in one meeting

Using spreadsheets for renewals means that every time you tweak the plan design options, you must do so at the office and schedule another meeting—sometimes dragging the process on for weeks. Technology allows all those changes to happen in real-time, in just one meeting.

“Dynamis saved us three extra meetings with a client three hours away – you do the math.”

Paul Stone, VADA Benefits & Insurance


3. Help clients avoid significant increases

Using plan design software allows you to build and present creative plan options that can mitigate even the highest increases, in an industry where costs just keep rising.

“The first client that we used the software with, the renewal was 38%, which is a pretty high renewal in our marketplace. By the end of the meeting, they walked out thanking me and smiling.”

Pat Kelly, Hausmann-Johnson Insurance


4. Simplify the complex

As plan design options increase, so does the complexity of benefits planning, especially when dealing with a large group. Software helps simplify the options for easier planning and decision-making.

“Since we’ve started using Dynamis, we are much more efficient. In many cases, we’ve been able to take a series of 3-5 meetings with large employers and bring it down to 1-2 meetings. We get more accomplished in a short period of time.”

- Matt Boray, M3 Insurance


5. Streamline internal operations

Plan design software like the Dynamic Plan Designer also simplifies back-end operations, drastically reducing the time to generate proposals.

"I can't imagine doing this another way. It took some of the other account managers 6 hours to put together a presentation before Dynamis."

- Veronica Daugherty, CIBC


6. Supercharge your sales pitch

How do you differentiate? An advanced plan design modeling solution grabs a prospect’s attention and can help you beat any competitor.

“Using Dynamis is a differentiator in sales. It really simplifies the conversation, and there’s no need to get in the weeds with prospects anymore.”

- Hunter Shepherd, Kennion & Co


7. Defeat entrenched incumbents

The insurance business is very relationship-based, and it can be difficult to defeat a long-time incumbent. However, offering fresh new abilities and real benefits will get any prospect’s attention.

“100% of employers that I’ve used the Dynamic Plan Designer with rave about it. We had a salesperson that left, came back, and brought some business back with him. We went out to one of these clients together; it was the first time they’d seen a Dynamis presentation. The client said ‘Why didn’t we switch brokers sooner?’ with their old broker right next to me.”

- Nathan Schreib, Relph Benefits


8. Close more deals, faster

With an interactive plan modeling tool, you can show your capabilities and value, while exploring plan options in real-time. Some employers get so excited by the tool, they hand over the BOR on the spot.

“Dynamis has given us a great opportunity for new business—we were able to show them something different, and we’re able to address all cost concerns right upfront. It has had significant impact on our new business closing ratios.”

- David Stark, Diversified Insurance


9. Future-proof your business

It’s hard to change after years or decades using the same process, but change is a reality today as technology rapidly evolves. Even if your clients don’t complain about your spreadsheets today, in just a few years they’ll be demanding a more sophisticated renewal process.

“I just don’t know how other brokers are surviving without a solution like this. I can’t see how someone can present a spreadsheet and say ‘here’s your renewal.’”

- Leo Gallagher, EBS of Maryland


Ready to move your business forward, to attract more leads, close more deals and build a rock-solid wall of retention? Contact Dynamis today for a demo and strategic chat about upgrading your renewal process.

Topics: Differentiation, Technology, Client Service, Renewal Strategies, Sales/Prospecting, Efficiency/Streamlining Operations, Dynamic Plan Designer