Offering group, voluntary, and individual benefits to clients via an online platform like segic.can increase a broker’s revenue in several ways:
- Cross-selling: Offering group, voluntary and individual benefits provides opportunities to cross-sell products. For example, if a client is only interested in group health insurance, the broker may be able to sell them additional products like life, virtual health, or disability insurance.
- Improved client retention: Offering a range of benefits improves retention because clients are more likely to stay put if they have multiple types of benefits with their broker.
- New clients: Offering voluntary and individual benefits can also help brokers attract new clients who are looking for coverage for themselves or their families.
- Commission income: Brokers earn commission on insurance products, so increased sales means increased revenue.
- Repeat business: Offering group, voluntary, and individual benefits allows brokers to generate repeat business because clients need to renew or update their benefits from time to time.
To summarize: by offering group, voluntary, and individual benefits, brokers can increase revenue by cross-selling products, improving client retention, attracting new clients, and earning commission on repeat business.
