The 5 Opportunities in Groups

There is no doubt that running groups perfectly will allow your business to grow profitably. Done right there are 5 big chances to make money by dealing with groups.

 

#1 A Group Base

The first logical chance is the group itself. When talking about subsidised group health schemes we usually see a group total premium grow to double the group subsidy. The doubling in premium comes from people adding on family and upgrading their cover to include other benefits. The best way of doubling your premium is by doing it face to face.

#2 Referrals

When you’re positioned as the person to call, friends and family of your group clients are passed your number. Getting the whole group on board gives you a new set of people to build relationships with. The type of offer you’re presenting to them can make it difficult to do this so you need to develop techniques to make the most of this opportunity.

#3 Cross Sell

Being the person they call, you need to establish early on that you are also able to help them with other aspects of their protection. If not done early enough they will only associate you with the group offer. The right material left with the client and they will come to you, it will be a natural progression in your relationship.

#4 New Groups

Any person in the group you’re looking after can introduce you to another prospective group. Being taken down the road is the easiest way of finding new groups. CEO, FCO and HR are the most likely to take you with them. However we have been introduced to new groups by employees at all levels.

#5 Finders

You don’t want to deal with groups? Then we have the last “opportunity” for you. Get an expert to run the group and receive a finder’s fee. Advisers have already gone down this track and they and their groups are very happy. Don’t take my word for it…

John said:
“Couldn’t have been easier. I wasn’t in a position to look after the group, so I was happy I
could call on an expert to take it off my hands. And I got paid”.

“While every care has been taken to supply accurate information, errors and omissions may occur. Accordingly Group Health and Life accepts no
responsibility for any loss caused as a result of any person relying on the information supplied.”

A disclosure statement under the Securities Markets Act 1988 relating to the financial adviser associated with this document is available on request
and free of charge.