Medicare Brokers – It’s 2020, you can manage your entire business in one internet tab.

Medicare Brokers – It’s 2020, you can manage your entire business in one internet tab.

Medicare Brokers – It’s 2020, you can manage your entire business in one internet tab.

Zack Lewis : November 25 2020

I have good news and great news.

The good news is you own a business in an industry that’s expected to absolutely explode over the next 15 years.

The great news is technology is so far ahead of the industry-accepted normal that if you jump on the train now you’ll catapult lightyears ahead of your competition.

Many won’t stumble across this article in time to have the same realization, and by the time they do they’ll hardly be defined as a competitor.


Integrate Sales, Operations, and Executive Management Tools


Hot button terms like streamline and scale get thrown around in ads by technology companies because they know it’s the ideal outcome you want for your business. The issue is these terms have been overused and watered down, and in turn, so to your belief in it becoming a reality for your Medicare Brokerage.

More great news – streamlining and scaling your Medicare business can actually become your reality regardless of false advertising by some (Scouts honor!). To have your entire staff including Sales, Operations, and Executive Management working out of one shared platform harmoniously is actually just the start of something even better.

To begin this journey we just need to understand the concept of integration.

We can visualize integration simplistically as plugging in all the various electronics on your desk into one power chord. Instead of needing to find 10 different wall outlets, we plug one power chord into one outlet and plug the rest of your phone chargers, screens, speakers, printers, and more into the one power chord. It’s clean, it’s simple, and it allows for a lot more employees to work in the office by reducing the number of outlets required for each person. Of course, we’re putting COVID working conditions aside for the sake of this example.

Using this same line of thinking, we can plug in your lead generation systems, quoting tools, dialer platform, Carrier portals, business intelligence tools, etc. into one piece of technology that powers them all. In this scenario, each member of your team can log into one internet browser tab to access everything they need for work.

Most off-the-shelf tools are not designed for this type of freedom and lock you into a rigid framework – they’re cheap, not just in price but in utility. Fortune 500 platforms like Salesforce can require a second mortgage to have this type of fluidity. But there are others who’ve built systems focused entirely on the needs of Medicare Insurance Brokers and your budget.



Integration Allows for End-to-End Automation and Business Intelligence


Remember how I said a one-stop-shop is just the beginning? Let’s briefly touch on what comes about once we’ve plugged everything into our single metaphorical outlet.

When our lead sources are plugged in. When our dialer is plugged in. When our quoting tools are plugged in. When our Carrier portals are plugged in. When all of the tools our staff needs to sell Medicare Insurance successfully are plugged into one system, we can make magic.

From a sales perspective, we keep our agents engaged in selling instead of administrative work. Rather then manually setting follow-up reminders on their calendars we can apply automation tools that set their schedules for them. This means loading up daily call lists into the dialer based on the number of times a lead has been contacted relative to the rest of their pipeline. We can send automated texts and emails on a defined schedule so each lead gets contacted a set number of times with certainty. We can set up alerts when customers cancel or lapse on their policy for agents to reach out. We can automatically scrub our database every day for hot leads based on Open Enrollment, Part D, or Spouses of current customers turning 65 in the next 9 months.

From an operational perspective, we can create a fluid and automated flow in sync with our sales process. We can automatically send notifications to staff after a sale is closed to set up an orderly queue for submitting policies to the Carrier. We can even use automation to produce a “one-click” solution for submitting that paperwork so they don’t waste time copying and pasting hundreds of data points individually into each Carrier portal. This increases the number of policies each employee can process in a single workday and fixes our costs.

From a Management perspective, we can use Business Intelligence Tools to track and report on all business activity as it happens for making profitable decisions. This can mean tracking conversions, retentions, cancellations, commissions, and issue rates relative to a particular Agent, State, marketing campaign, or Carrier. Furthermore, we can adjust our automation workflows based on this information to reduce waste and capture more business because we’re making informed decisions using reliable data.



Integrate. Automate. Capitalize


If these examples still sound like a pipe-dream to you don’t worry, we have plenty of case studies to check out and more content to come where I’ll dive deeper into the specifics for how you too can have true end-to-end management for your Medicare Brokerage. We’ll look further at what tools can be integrated, how to design ideal process flows, automating follow-up, what critical metrics you should be tracking, and more.

If you take one thing from this article I hope it’s this – there’s a major gap between what most Brokers believe to be possible from a technology perspective and what actually is. To fill the gap you just need to ask the right questions of the right people.

Integrate your technology into one system, apply automation tools to eliminate redundant administrative work, and gain total transparency for the performance of your organization to make profitable decisions. That’s a recipe for scale.

P.S. To ask the right questions of the right people I started a LinkedIn group called “Success-With-Tech for Health Insurance Brokers” where you can ask tech questions and get answers from experts and other brokers. Maybe you’re considering a new dialer or email marketing tool and want some feedback before pulling the trigger, ask and ye shall receive.

The Best is Yet to Come…