Many small businesses offer their employees health insurance, but only some provide dental or vision coverage. For brokers, selling these ancillary benefits can be a great way to add revenue to your business. However, it is essential to understand the nuances of dental insurance. This includes knowing how to present a plan with varying configurations, networks, and benefits.
Understand Your Client’s Needs
Whether you’re a broker working in the health insurance industry or an independent agent, selling dental coverage to small business owners is a great way to boost your commission. When you sell small business dental insurance, you need to understand your client’s needs and how to find the right plan for them. Dental care is essential for overall wellness, and a lack of access can have serious consequences. That’s why offering affordable dental insurance is a key benefit for many employers to attract and retain talent. It also helps save thousands of dollars in medical costs per employee annually. When finding the best dental plan for your client, you’ll want to understand their budget and the type of coverage they are looking for. For instance, are they interested in a comprehensive plan that covers routine visits, periodontal work, and more? Or do they prefer a dental savings plan that’s less expensive but still offers extensive benefits?
Find the Right Dental Plan for Your Clients
Unlike health insurance, dental care is rarely mandated by law for employers to offer. However, it is still a popular benefit and can help attract and retain employees. For this reason, it’s important to understand your client’s needs and options. Some plans put a monetary limit (known as a maximum) on the amount of money they will reimburse yearly for procedures. Once an employee reaches the maximum, they will be responsible for any additional costs out of pocket.
Furthermore, many dental plans include services such as cleanings and fillings, but some do not cover more extensive procedures such as root canals or crowns. Knowing what each plan covers will help you determine which ones may fit your clients’ budgets and their employees’ needs. In addition to traditional dental procedures, you may also be able to sell small business dental insurance through public or state-based exchanges. These marketplaces have a growing list of providers and can offer more options for your clients.
Create a Marketing Plan
Dental marketers must understand their target audience and develop a marketing plan to appeal to them. This will vary depending on the type of practice and specialty. For example, a holistic dentist will have a different clientele than a pediatric dentist. Marketers should build trust and loyalty with their clients regardless of the niche. This can be done through various means, such as offering discounts or rewards programs. For example, some practices provide stamp collection cards that give patients a free service after a certain number of visits. One effective way to strengthen customer loyalty and encourage repeat business is through email marketing. You can use this to send appointment reminders and promotional emails. This can be even more effective when complemented with social media, which can drive traffic to your website and generate leads. Conducting regular market research is also crucial for any dental insurance business. It can help you identify competitors, understand pricing strategies, and evaluate market demand. This will help you stay competitive and keep up with changing industry trends. It’s also important to have a marketing budget. This will help you determine which strategies and channels to prioritize and how much money to allocate for each one.
Make the Sale
Insurance brokers often overlook dental, vision, and hearing plans, focusing only on health and life insurance. However, these types of coverage can greatly enhance small business benefits packages and show employees that their well-being is important to their employers. Research has shown that workers distracted or stressed by personal or family health issues are less productive at work. By adding dental and vision plans to benefits packages, employees can focus on their jobs better. To successfully sell small business dental insurance, brokers must comprehensively understand the market and their client’s needs. An approach that caters to the unique characteristics of their client’s company can improve their chances of making a sale and building lasting relationships with their clients. Several dental insurance providers offer suitable products for small businesses. For example, some provide a range of HMO and PPO options with a broad network. It also provides group dental insurance for both small and large employers.