Open Enrollment Ideas for Insurance Agents

open enrollment ideas for insurance agents

Open enrollment season has arrived. This Fall, employees will be enrolling in a health insurance plan. At the same time, employers will be working hard to present them with the best options in the most comprehensive way. HR professionals live under high stress during this period since they are responsible for managing heavy administrative processes. Here is where you come in: the expert broker ready to help. The open enrollment season is also a stressful time for you, but it offers the opportunity to drive more revenue than any other time of the year. In this week’s post, open enrollment ideas for insurance agents.

Spice Up Communications 

Employees often find health care options confusing. Picking the best plan has become a daunting task. For this reason, group administrators are required to offer ample guidance to prepare employees to make informed decisions. As per open enrollment ideas, provide HR professionals with the tools and information they need to succeed. Prepare them to answer questions such as “which plan best fits my needs?” or “how much will this cost me per paycheck?” 

Open enrollment information can be complex and unappealing. When creating your messages, remember that bland content could plummet engagement rates as well as comprehension of healthcare and benefits options. If you want HR professionals to understand your offering, it’s important to craft appealing content. You want the information to stick with employers so they can pass the knowledge to employees. If you offer voluntary benefits but the HR professional doesn’t know anything about them, the chance of employees getting enough information to choose to enroll won’t be enough, which will cut down your commission.

When trying to communicate open enrollment details to employers, write short emails that contain around 200 words and provide them with one strong call to action that clearly indicates what they have to do. For example, if you want them to be aware of ACA compliance guidelines, send them a unique email with a clear message of why ACA compliance is important and what could happen if they don’t follow the guidelines. Then, you can link to a landing page in which you explain point-by-point everything they need to know.  

Segment your Audience

Segmenting your audience means to group your customers or prospects by similar characteristics. Once you have a segment, you can make your communications more personal and relevant. Considering that today’s workforce is more diverse than ever, segmentation seems to be one of the best open enrollment ideas to put in place. Employees want to be seen and recognized as the unique people that they are through a personalized benefits experience. 

For instance, take into consideration that open enrollment is a confusing time for everyone, but it’s especially harder for employees between the ages of 18 and 34 due to inexperience with electing benefits. Hence, create messaging to target younger people. For example, create specific drip campaigns with materials for employees turning 26 and leaving their parents’ insurance plans. Don’t assume they have any knowledge about the concepts related to benefits. Another option is to create messaging for employees that get married or have a child to explain how to tackle insurance when adding a qualifying life event. 

Use a Technology System

The past five years have seen a 165% growth rate in the number of employees using web-based technology for benefits enrollment. The return on investment for your business can exponentially increase by adopting technology. Without a technology solution, you will need to gather and deliver the necessary amount of medical, dental, and life forms, follow up with the group administrator, proof the forms, and then submit them. With a technology solution, all these steps are done in minutes and you’ll be able to make the most of open enrollment. 

In addition, if your agency provides a tool that makes open enrollment easier, you will be bringing greater value. Nobody wants to spend hours completing paper forms. If we add dependants to the picture, this process becomes even more complicated. As per open enrollment ideas, streamline the process by implementing a technology system that allows group administrators and employees to manage benefits online, 24/7. Everyone involved in the process will save time and have a more satisfying experience. For example, if the system you are offering has a comparison tool that shows a side-by-side overview of all the plans offered, employees will get a better understanding of the differences and will be able to more accurately pick the right one for them.

When you implement a technology solution, don’t leave your groups alone to figure it out. Make yourself available for any questions and roadblocks they might have. Make sure they know where to go for help: always include your email address and phone number in all your marketing materials. 

make the most of open enrollment with technology
Source: Guardian Workplace Benefits Study 5th Annual

Increase Employee Participation in Voluntary Benefits

Today’s high deductibles and the growing millennial generation have created a higher demand for voluntary benefits. One of the open enrollment ideas to consider is offering voluntary benefits to increase your commission. To this effect, crafting marketing materials for voluntary benefits is crucial to make them relevant. Portray real-life situations in which employees might need these benefits to show them how voluntary benefits can solve specific challenges. 

For example, if you know a specific group has a lot of employees with active lifestyles, for example, they might snowboard, mountain bike, or playing soccer in a pick-up league, offering accident insurance coverage for injured employees can be a great addition for them. The final goal is to make benefits compelling. Therefore, real-life stories and situations can demonstrate how beneficial certain policies can be. Don’t forget to talk about their families, since as human beings we care more about protecting the people we love than ourselves.  

Final Thoughts About Open Enrollment Ideas for Insurance Agents

You’ve got plenty on your plate during the busy season and carrying out these open enrollment ideas might seem like additional work. However, these strategies will help you differentiate yourself from your competition and make the most of open enrollment this year. By simplifying and making your offering more understandable, employees will feel more confident and satisfied with their benefits choices. It’s time to help them reduce the chances of making decisions they might regret. 

Author: Ryan

Ryan is the VP, Marketing and Growth at Ease. Ease helps insurance brokers offer their SMB clients better service through simple technology. To date, more than 65,000 companies have enrolled in benefits with Ease.