What is a Broker?
Each insurance company recognizes a certain individual or company as the servicing agent for your policy. This individual's job is to service your account, correct billing problems, resolve claim issues, and generally assist the client with their account. In return for these services, a servicing agent is paid a commission by the insurance company. The commission is paid from the premium that the client submits to the insurance company on a monthly basis. While the client has the option of choosing the servicing agent for their account, or even choosing not to retain a servicing agent at all, the premium itself remains unchanged in most cases. So, it is of benefit to the client to retain and maintain a servicing agent for their account. The advantage a broker has over other types of servicing agents (such as a captive agent, or insurance company representative), is the broker's ability to shop and compare policies and prices from many different insurance carriers in the market.
At Beneficial Solutions, we believe that a company's broker should be viewed the same way an employer regards any of the people that work for their company. As an employer, you try to hire and keep employees with an excellent performance record, and dismiss those who do not perform to your expectations. We think you should view the person servicing your health, dental, and other policies in the same manor.
Many people believe that it is necessary to change carriers every couple years in order to keep a competitive premium. The reality is that you may just need to change your broker. You may need to hire a firm that is willing to work harder and smarter on your behalf. How does your experience compare with the following services that Beneficial Solutions provides:
If your company is considering a change in carriers, or a change in the broker who services your account, consider Beneficial Solutions. We would love to interview for the position. We will provide you with all of the above-mentioned services and much more!