What does your business model say?
Exchanging stories with friends, it appears that some insurance companies have the poorest of business models. And while some of these charge exorbitant fees, they are wasting huge amounts of dollars that could instead be better used to reduce premium payments.
Before I get into the business model and associated wasted dollars, let me address those of you seeking jobs. Should you be wishing to establish a career with a creditable organization, you may want to do your best to understand the business model prior to accepting.
Did you know sometimes automatic payment is not good enough? This is especially true when a holiday affects the process. I heard automatic payment is considered “the slowest method” for receiving payment. So if you have your payments on auto pilot, my suggestion is to pay a few days sooner if you possibly can. Here is one troubling scenario:
“Jackie” received, to her surprise, a check with a letter stating she “overpaid”. Not understanding, she called her insurance company to find out the real story. They assured her the check was good and to deposit it; she followed orders. Ten days later, a letter arrived stating her medical insurance was past due and suspended. Upon calling, no one, not even the supervisor could find anything wrong with her account and statedt she was still in good standing.
Here is the real problem: The the letter drafted and sent with the check, the second letter drafted and sent, and the time spent on multiple phone calls, plus time involving several people from the company, all cost that insurance company hundreds of dollars. Jackie probably could have had free insurance for the year compared to what was wasted connected with all the employee downtime and documentation. Worse yet, it is still not quite resolved because the mystery still remains as to how the eroneous paperwork was generated – no employee wanted to pursue it.
Justin reported the identical problem with his auto insurance company. Lucky for him there was an office in his town so he was able to more quickly resolve the situation.
Of course these are giant corporations involved with the left hand not knowing what the right hand is doing. But some entrepreneurs do make it to large company status. My suggestion is to be mindful of your business model and always double check for possible wasted dollars in your proceses. Not only will you save money, and be more affordable to a larger clientele, you will also eliminate added frustration among employees and clientele. Much will be saved as well as gained!
This is the path that will lead to a Smooth Sale!
Read Addtional Strategies and Techniques:
INSPIRED Business A New Vision for Building Business and Communities, Motivational Press
Nice Girls DO Get the Sale: Relationship Building That Gets Results, Sourcebooks
HIRED! How to Use Sales Techniques to Sell Yourself On Interviews, Career Press
