Realigning the Client Relationship<br />A Strategic Model for Product Diversification and<br />Broker Revenue Enhancement<...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Southwes...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />What we ...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Central ...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The Begi...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Analysis...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The real...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Strategi...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Reinforc...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Diversif...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The plan...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Turn-key...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The resu...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Follow U...
Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Not just...
Questions/comments?<br />For more information contact:<br />Bruce J. Gilbert<br />bgilbert@swrbg.com<br />
Próximos SlideShares
Carregando em…5
×

A Strategic Model for Product Diversification and Broker Revenue Enhancement

962 visualizações

Publicada em

  • Seja o primeiro a comentar

A Strategic Model for Product Diversification and Broker Revenue Enhancement

  1. 1. Realigning the Client Relationship<br />A Strategic Model for Product Diversification and<br />Broker Revenue Enhancement<br />Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />
  2. 2. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Southwestern Risk<br />Consulting practice<br />Broker-driven<br />Strategic planning<br />Revenue enhancement<br />
  3. 3. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />What we do<br />Help brokers identify opportunities<br />Diversification<br />Product expansion<br />Strategic partnership development<br />
  4. 4. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Central focus<br />Unlocking new profit centers<br />Leveraging existing relationships<br />Demonstrating value<br />
  5. 5. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The Beginnings<br />Broker-sponsored vendor audits<br />Operational infrastructure (platform, succession, business continuity/disaster recovery planning)<br />Also reviewed client purchasing patterns<br />Discovered<br />Client plans purchasing multitude of services<br />Fees averaged 45% of admin fees (med, dental)<br />Medical bill repricing, Pre-cert, PBM, Wellness<br />Each product provides TPA stream of revenue<br />No additional responsibilities <br />
  6. 6. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Analysis <br />Efficient distribution of labor<br />Broker sells, administrator services<br />But at what cost? <br />Competition for client relationship<br />Effect on retention/customer loyalty<br />Questions of relative value and expertise<br />Who leverages the relationship for maximum financial advantage?<br />
  7. 7. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The reality<br />The TPA received substantial fees for placement of business with vendors, not servicing the account.<br />
  8. 8. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Strategic Response<br />Reaffirm primacy and expertise<br />Expand product mix<br />Diversify revenue stream<br />
  9. 9. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Reinforce primacy<br />Broker as trusted, valuable advisor<br />Broker as owner of relationship<br />Broker as expert on product and service offerings<br />
  10. 10. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Diversification <br />Broker-driven products and services<br />Plans already purchasing <br />Opportunities for increased “same client” sales<br />
  11. 11. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The plan<br />10,000 lives<br />Identify opportunity<br />Easy to implement<br />No disruption<br />No increase in costs<br />
  12. 12. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Turn-key operation <br />We provided:<br />Strategic partners<br />Contract administration<br />Vendor management<br />
  13. 13. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />The results<br />10,000 lives being placed with broker driven service vendor<br />Easy to implement<br />No client disruption<br />Same service level<br />$.50 PEPM<br />$60,000 in revenues<br />
  14. 14. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Follow Up<br />Talk about other opportunities<br />Goal of “same client” revenues increase by $1.50 PEPM<br />$180,000 annually<br />
  15. 15. Southwestern Risk & Benefits Group, LLC<br />A Strategic, Organizational and Operational Consulting Practice<br />Not just about dollars <br />Re-establishing primacy<br />Demonstrating value and expertise<br />Access to new products and services<br />Diversifying revenue streams<br />Building a new model<br />Broker places business<br />TPA administers plan<br />
  16. 16. Questions/comments?<br />For more information contact:<br />Bruce J. Gilbert<br />bgilbert@swrbg.com<br />

×