Editor’s note: This is the first in a regular series of blogs from Hodges that will highlight products and services that will help advisers sell and retain business and increase their bottom line.

Two of the most common hurdles in the benefits industry are finding new clients and replacing lost revenue from commission reductions. What if you could overcome both of these hurdles with one new program that is taking the insurance industry by storm? Stryde Solutions is a company that combines three specialized tax incentives with three expense reduction programs. It was designed specifically for the insurance agent.

We all know cold calling is dead.  How many business owners will take the call of an insurance agent? Not many. What if you weren’t selling insurance, but were selling savings? I sold health insurance for 24 years. People used to ask me what I did for a living. I would say, “Deliver bad news!” Wouldn’t it be fun to deliver good news for a change? Say a quarter or half million dollars in good news?

Why is this a good fit for insurance professionals? There are numerous reasons, one, you have been told repeatedly that you need to position yourself as a trusted adviser. Saving a company six figures will certainly boost your ratings in the trusted adviser area. Two, you already have clients who qualify for these programs. Agents/brokers are positioned perfectly to reach out to their current clientele with opportunities for savings. Three, you all need new people to talk to. How much money have you spent on “value-added services?” All products and services designed to help you win/retain clients.

Specific savings

For example here are the average savings for some specific industries:

  • Manufacturing: $271,000                             
  • Medical Facilities: $277,000
  • Auto Dealership: $88,000                               
  • Funeral Home: $241,000
  • Hotels: $185,000

These are averages; it’s not uncommon to find a larger company seven figure savings.
Not only do you look good in delivering these ideas to a company, you get paid to do so. Stryde Solutions has built an app that you can download on your phone or tablet and within 60 seconds and four questions later, you can deliver an estimate of savings to a business owner.  How often have you gone golfing with a business owner? Or met one at a party or restaurant and they ask what do you do for a living? Rather than end the conversation with, “I sell Insurance,” why not start the conversation with, “I save people money.” Then pull out your phone. If the calculation comes up with $300,000 of savings, I can assure you the business owner will be asking, “When can you stop by to see me?”

The idea here is not to get you to stop selling insurance, but rather give you a new exciting way to get in the door. Once you save them money, they will undoubtedly give you an opportunity to look at their insurance. For more information, contact Stryde Adviser Tim Kalkman at (616) 291-1785 or timothykalkman@sbcglobal.net.

Hodges, RHU, REBC, CBC, is president of The Brokers Broker and a senior adviser at GMG Savings. Reach him at khodges@thebrokersbroker.biz or khodges@gmgsavings.com.

Editor’s note: This is the first in a regular series of blogs from Hodges that will highlight products and services that will help advisers sell and retain business and increase their bottom line.

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