Wednesday, 3 September 2014

Identifying introducers clients for private medical insurance

When people ask me what I do for a living I often remark that rather than 'selling medical insurance' which is, at the most basic level the nuts and bolts of my main role, that I am a marketeer. This is because although I do advise clients on all aspects of medical insurance I see my main task as always being on the look out for ways to acquire new clients whether this be by networking, client referral, social media or more traditional telephone or client mailings. Whatever the method I get more excited in some ways by obtaining I new lead than I do in actually fulfilling the clients need for cover although both are clearly vital parts of the process.

So when I am talking to my introducer clients I always try to bear in mind that although they need to know the nuts and bolts (at a basic level anyway) of how PMI works it is actually far more important to discuss how they can find the client in the first place. Clearly without a client there is no one to advise !

The good news however is that if you are an IFA, Accountant, General broker, solicitor etc and you have more than a handful of clients then almost certainly there is some medical insurance business to be ferreted out of your existing client bank without having to a) locate brand new PMI clients and b) do too much hard work.

My advice is that for both SME and individual clients when you do an annual review meeting or discuss other on-going issues with them it's just a case of asking them if they have medical insurance, if they want it and if they do have it can we review if for you ? This then becomes a warm lead for me and the client gains access to a set of advice on their medical insurance that otherwise they would never have had. We therefore, with very little work on the part of the introducer create a 'virtuous circle' : I get a new client; the introducer derives additional income from the client they would not have ordinarily received and the client receives professional advice on an important insurance protection.

So my role here is to 'sell medical insurance' but moreover it is to advise the introducer as to how, quickly and easily to derive more income from their existing clients.

If you are a professional adviser who would like help with medical insurance for clients please feel free to call on : 07792 075748.

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