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American Agent & Broker magazine features Beneflex as part of the cover story in their December 2011 issue. Below is an exert from that article.
“Trusted Advisors: Upping Your Game"
By Julie Knudson
From the December 2011 issue of American Agent & Broker
Just as accountants do more than fill out tax forms and attorneys have responsibilities other than contract reviews, insurance agents have a greater depth of expertise available to clients beyond selling insurance. To become a trusted advisor, many agents and brokers are shifting focus to the broader need for risk control and management, and helping clients make better informed long-term business decisions.
Agents interested in establishing a reputation as a trusted advisor should be ready to overcome a range of obstacles, but myriad opportunities—such as better visibility among centers of influence and more lucrative client relationships—await those who accept the challenge.
Challenges: Demonstrating value, deploying infrastructure and developing an "advising" mindset
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Another obstacle advisors face is the flip side of the price problem—when a broker is interested in crafting the right coverage but cost is the only thing the client cares about. When that’s the case, trusted advisors often must determine if the relationship should be pursued. "We’re actually pretty selective about whom we do business with," said Dan Cattaneo, CEO of Beneflex Insurance Services Inc. in Santa Barbara, Calif. His team takes prospective clients through an initial process that includes an introductory meeting and often a survey about what the client wants. During that early phase "we really don’t even talk about insurance or employee benefits."
This vetting process helps Beneflex determine if a client is a good fit for the brokerage team, which Cattaneo said is more important than simply making a sale. "We focus on a 2- to 5-year strategic plan with the client from the get-go, so they understand that we’re not here because we’re going to negotiate the best rates for them. We’re here to help them create the most engaged workforce they possibly can." Clients whose sole focus is on price may not move to the next phase in the process.
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