Episode Summary
The Brokerage podcast introduced agents to the referral program offered to help agents earn additional commissions on products they don't sell themselves. The host explained that many agents specialize in certain products, whether that's Medicare plans, ACA, or life insurance. However, clients will inevitably have needs for other insurance products outside an agent's core offerings. This can lead to lost business if an agent has to turn clients away.
To solve this, the Brokerage has a referral program that lets agents earn up to $100 per referral by sending clients to Brokerage partners. For example, if a Medicare agent has a client who needs ACA coverage, they can fill out the Brokerage's ACA referral form with the client's information. The Brokerage's ACA experts will then take over fulfilling the sale. If the sale goes through, the referring agent earns a commission of up to $100 per insured family member.
The key benefits are:
- Earn commissions on products you don't sell yourself, requiring minimal effort.
- Strengthen client relationships by positioning yourself as their go-to insurance resource. Even if you don't sell a product, you provide the solution.
- Brokerage preserves your book of business. Referred clients are sent back to you when they need your specialty products later on.
This allows agents to focus on their niche and core offerings, while still earning income from other products through referrals. The Brokerage handles the certification, enrollment, and fulfillment - the referring agent simply passes the lead and collects the commission. No extra work is required.
The host emphasized that this program is especially valuable during busy enrollment periods like AEP and OEP. Client needs will increase across multiple products, and referrals provide an easy way to meet needs outside an agent's expertise.
Agents can access the Brokerage's referral forms through their Broker Link portal or by calling the Brokerage directly. The host encouraged agents to market the program to clients by positioning themselves as a one-stop insurance shop able to meet all needs through Brokerage partnerships.
In summary, the Brokerage referral program enables agents to sell more, earn more, and focus on their strengths while providing full-service insurance solutions to delighted clients. This creates passive income streams requiring zero additional effort from the agent. The host highly recommended that agents tune into the podcast and leverage referrals to maximize their business this enrollment season and beyond.
Timestamps
(0:00:00) - The 2022 AEP kickoff is free and open to the public
(0:01:01) - Broker link helps insurance agents sell more, earn more and stay independent
