Free broker support: what’s the catch?!

When something sounds too good to be true, people naturally assume there must be a catch.

So when an employee benefits broker offers their services for free, you might think there’s a sneaky fee or hidden clause somewhere?

But with Hooray Health & Protection, that’s not the case! In this blog, we explain how we’re able to provide free support without any nasty surprises…

Table of Contents hide

1 How do we make money if we don’t charge you?
2 4 common myths about employee benefits brokers
3 What support do we offer?
4 So, what’s the downside to using an employee benefits broker?

How do we make money if we don’t charge you?

The answer’s simple. When we help you find the right employee benefits policy, the insurer pays us a percentage of the premium you pay.

But here’s the key point: this does not make your policy more expensive.

Insurers factor these costs in, whether you go through a broker or the insurer’s own sales team. Since we handle the advice, comparison, and setup, the money that would’ve gone to their sales department comes to us instead. It’s just a different way of doing things. It also means you get expert support without paying a penny more.

4 common myths about employee benefits brokers

There are a few misconceptions about using an employee benefits broker, so let’s clear them up:

Going direct is cheaper: Insurers don’t offer discounts for skipping a broker. Instead, they just keep the commission for themselves.
Brokers push certain providers: Some do, but not us! We’re independent and focus on finding the right fit for your business.
You’re locked into long contracts: Using a broker doesn’t tie you into anything, only the length of the policy you choose to buy.
Brokers only help big companies: Some brokers turn their nose up at serving small businesses, but we support you whether you have two employees or 2000.

What support do we offer?

Brokers can vary in the level of support they provide. Our support covers the following policies and products:

A broker like Hooray can provide the following professional support to your business:

Find you the best deals: We compare quotes from across the market, so you don’t have to waste hours exploring endless options.
Cut through the jargon: Insurance talk is hard to decipher to the everyday person. We explain the policies in plain English, highlighting anything you need to be wary of in advance.
Keep costs low: We negotiate with insurers and fight premium increases where possible. The fact that we can easily hop from one insurer to another means that insurers are fighting over themselves to keep us happy!
Help with claims: If you need to make a claim, we’re here to guide you through the process. If there’s a dispute, we’ll look into to it as an impartial third party and give our expert verdict.
Handle admin: Need to add a new joiner or remove a leaver? Think of us as your personal assistant. We handle the paperwork so you don’t have to.
Introduce to staff: If you buy staff health and protection policies through us, we will help educate your team about their new benefits so they can get the most from their perks.
Annual reviews: We check in to make sure your policies remain competitive and relevant, and consider whether a better option is available.

Here’s what Kerri Cheval from Runna had to say about working with our team:

Esme has been amazing and so fast! It has been really helpful having her guide us through the renewal process and now we have a dedicated account manager to support our team – which is a huge time saver for us. Thank you!”

So, what’s the downside to using an employee benefits broker?

The only potential downside is if you work with an employee benefits broker who charges for their services, lacks expertise (you don’t have to sit exams to call yourself a broker!), or is simply working as a sales funnel for a particular provider.

But when you work with Hooray, there is genuinely no downside. We’re here to make your life easier, and the insurer pays for our time. No catches, no hidden fees, no dodgy deals.

Ready to get started?

Get in touch today for a free quote and expert advice on how to find the best employee benefits for your business.