Whether you’re starting a new insurance plan or you already have one – you want to get the best value for your money. An important part of making that happen is working with a specialist. A dedicated Group Insurance Advisor stands as a committed ally to your benefits strategy.  But what makes for a great group insurance advisor? And what exactly should your advisor be doing to support you?

In this article, we’ll explain why Advisor can help you determine whether you’re getting the service and support you deserve.

The importance of Group Insurance Advisor

A Group Insurance Advisor, with their specialized license and deep expertise, champions your interests and those of your organization’s benefits scheme. Immersed in the nuances of group benefits, they navigate the complexities involved in selecting, deploying, and sustaining a robust employee benefits package. Protected by Errors and Omissions (E&O) Insurance, they offer a layer of security absent in non-personalized advising services.

These advisors maintain solid relationships with carriers and insurers, leveraging their position to negotiate favorably on your behalf and apply their deep knowledge for your advantage. An independent Group Insurance Advisor prioritizes your needs above those of any carrier.

Proactive in their approach, these advisors can pinpoint potential enhancements or issues within your plan, ensuring its continual improvement.

How To Choose Your Group Insurance Advisor

The market is saturated with advisors, yet only one can truly represent your interests. There are some key considerations include:

  • Look beyond cost: While important, the cheapest plans can often lead to steep increases upon renewal. A quality advisor will balance cost with the value, designing an insurance plan that aligns with your financial and business needs. The best benefits advisors take the time to understand the needs of each business and the people within it through questions.
  • Understand your benefits philosophy: An advisor should delve into the reasoning behind your plan, ensuring it aligns with your business’s ethos and goals. They believe in long-term, sustainable plans. The plans grow with your business while maintaining consistent coverage with minimal fluctuations in price, coverage, or demographics.
  • Communication is key: Advisors are willing to take the time to ensure you comprehend every aspect of your benefits plan, patiently addressing queries and presenting viable options for informed decision-making.
  • Clarity and comprehension: Your advisor should ensure you and your employees fully understand your benefits package, taking the time to explain details and answer questions. Most employees don’t even have a good understanding of what’s included in their own group insurance plan. An advisor helps your staff understand and appreciate the benefits you provide. A good benefits advisor can facilitate employee meetings and provide you with written employee communications that can be forwarded to your employees.
  • Genuine care: Beyond metrics, a great advisor shows a genuine interest in your business and the wellbeing of your employees, prioritizing effective coverage over commissions.

While traits such as knowledgeability, friendliness, and approachability are essential, they are part of a broader suite of qualities embodied by an exceptional Group Insurance Advisor. When you encounter an advisor who embodies all these traits, they are undoubtedly worth holding onto.