Cross-Selling: Start with your Book of Business

Senior Agent Contributor: Tom O’Neil

I am going to speak to some commonly missed lock-in period cross-selling opportunities and other related musings.  Keep on the lookout for another article where I touch on problem clients and when to fire them!

As Medicare Advantage and PDP sales enter a bit of a slump this time of year, I go to my book of business.  It was a slower than usual AEP for me this year, I wrote about 30 new MAPD clients and rewrote about 12 with some Med Supps added in.  Due to some other nagging obligations, that was as much effort as I could muster.

What now? – Time to start calling your new clients from AEP!

Cross-selling your existing Book of Business

Call your new clients from the recent AEP.  By now, they have had about 4 ½ months to use their plans.  Ask them some open ended questions about how their plan is working for them and try to uncover any problems they may be having with their new coverage. Any problems they ARE having, like a hospital bill for example, is a perfect opportunity to bring up Hospital Indemnity insurance. Another crucial reason for following-up with your clients this time of year is to make sure you’re top of mind when AEP rolls around in October.

By all means, if they are having any issues, assist them where you can with any of their plan challenges.  If they feel they need help here is another suggestion: GO TO THEIR HOUSE!  My basic rule during lock-in period is to do a home visit if my client lives within about a 30 mile range.  I will even see them on Saturday. Efficient? Heck no, but it will generate more information and business if you meet face to face.  Maybe they will bring over their adult child or senior neighbor.  It is also better if you are on speaker phone with them if a call is needed to the customer service department.

Think of questions that can also easily generate referrals but also might indicate new needed coverage for your client such as:

• Hospital Indemnity
• Cancer Plan
• Dental Insurance or Dental Discount Plan
• Final Expense Life
• Good-Rx Plan  for Non-Formulary Drugs or to lower some copays (not commissionable but it has led to some great business for me!  Using this great, FREE tool will be a subject of a blog in a couple of weeks.)

Believe me, activity begets more activity.  Take it from somebody who’s been in the Medicare industry since the 70’s; this works!

Curious to know the 5 questions I ask my clients that will get you more referrals AND cross-selling opportunities?  Give the RBI team a call today and learn how they can grow your Medicare business! 1-800-997-3107

Keep an eye out for an upcoming white-paper from Tom O’Neil!