In our conversations with small business owners, we discover that many are surprised by just how much work we get through on their behalf – without even charging!
But all brokers work differently. So, in this article we look at the role played by employee benefits insurance brokers – and what level of service businesses should expect.
To help us, we also speak to one of our team members, Esme Pearson.
Looking for advice on setting up the perfect blend of employee benefits and health insurance for your teams? Contact us at [email protected] or use the chatbox for FREE one-to-one advice and support.
How do employee benefits insurance brokers work?
Every employee benefits insurance broker takes a different approach. Some want to take you through the buying process as quickly as possible and move on to the next customer ASAP. But at Hooray we put the customer first – we’re the helping hand making the whole process simpler!
The Hooray process is six-fold:
1.Kickstart the conversation
We begin by learning about your business and what you want to achieve through your benefits scheme. These questions can be about the demographics of your team, the nature of the business, your available budget and much more. It’s very important that we take this time to understand the ins and outs of your business, so we can identify the most suitable combination of benefits.
But this is a two-way conversation – you will get the chance to ask us all the questions you’ve ever wanted to ask about the different policies on offer, general price points and how the whole process works.
2.Deliver the best quotes
Equipped with the above insight, we now have all the knowledge we need to begin searching for the best deals out there. We work across the whole market – not just one or two insurance providers – in order to bring the most competitive quotes to you.
3.Agree on the benefits package
With all the best quotes at your fingertips, you’re in a position to make a final decision on the benefits you want to offer to staff. We’ll continue to guide you at this point and, once agreed, purchase the policies on your behalf.
4.Help with implementation
We also advise on the practicalities of introducing the benefits to your employees – this includes advice on employee benefits platforms, assistance with company presentations and more.
5.Assist with claims
If you need to make a claim on one of your policies, we can help. For example, if a claim is rejected, we can check to see if we think you have a case – and if we think you do, we’ll take it up with the insurer ourselves.
6.Continue to review the market
As employee benefits insurance brokers, we understand the industry doesn’t stand still. For example, premiums may rise from one year to the next – and we can help you lessen or even avoid such price hikes. New policies may arrive on the scene offering better value, and if they do we’ll be across it.
Would you like to kickstart the search for the perfect combination of workplace perks? Simply contact our team of friendly employee benefits insurance brokers. We guarantee straightforward answers and the most competitive quotes, all for FREE.
How do health insurance brokers help my business?
A genuinely independent broker will have a high level of knowledge of the products on offer from ALL the insurance providers. This means we can quickly compare policies and quotes from the whole market – some of which are not advertised to the public. A good broker will constantly nudge the insurer towards a better deal for you, whilst insurance companies will want to maintain their relationship with the broker to encourage future business.
In short, it’s the perfect symbiotic relationship through which the customer benefits most!
Many of our customers wonder how we can offer so much without charging or inflating the cost of the insurance. Consider it this way: if a business goes straight to the insurer, they will need to go through their sales team. The insurer’s sales team is there to handle customer queries and guide them through the process of buying the policy. However, when a customer instead employs an employee benefits insurance broker, they effectively bypass the sales team and save the insurer huge amounts of admin and time.
Q&A with Esme Pearson, Junior Employee Benefits Consultant
“How do I pick the right employee benefits insurance broker for my business?”
I’d always recommend taking your time and getting some research in, reading reviews, success stories and case studies. It’s important to get a good feel of how each broker works as they may differ. Narrow it down to two brokers after researching and getting information from both to start comparing.
One thing I would also say to look out for are the brokers that are constantly staying up-to-date and investigating the insurance and employee benefits market – these guys will know what they’re talking about!
It’s worth checking if they are members of the AMII – as this is evidence of their commitment to the highest standards of customer service.
“Which insurance providers do you work with?”
Hooray have no limit on who we work with, so we have a huge network of industry connections to help our clients find the perfect employee benefits and health insurance schemes.
“How much do I pay you?”
Our team cost nothing as we offer free advice and free quotes. We don’t come at any extra cost for you or your business, so keep an eye out for the brokers that are charging.
We’ve heard of clients being charged £10,000 in fees when their insurance policy only cost £3000 – this isn’t normal! The best brokers are there for your needs above anything else, so definitely avoid the ones with fees.
“Do you continue helping after we’ve decided on our chosen employee benefits?”
Yes! We’re always available at a moment’s notice for any concerns and queries either by dropping us a message or call. One of our services is providing guidance and information for your teams and HR with an option for in-office/remote presentations to get you started.
“How can I be sure of the authenticity of your advice and services?”
Hooray are an appointed representative of Engage Health Group Ltd, who are authorised and regulated by the Financial Conduct Authority.
“As a broker, what are your aims?”
I am always striving to give our clients the peace of mind they need during this process, as well as wanting to make everything as simple and easy as possible. My aims, of course, always circle back to getting clients exactly the benefits they want, just in the smoothest way possible!
Find an employee benefits insurance broker today
Are you a first-time buyer or small business owner looking to set up the perfect employee benefits and health insurance schemes for your staff? Find out more here to learn more about what a health insurance broker can do for you and your business or check out our product pages for more information.
Call us on 01273 222805 or click on the bottom right chatbox for FREE advice and support.