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Learning Center
The Case to Rethink “Small” Business
Over and over again I hear business owners almost apologetically say, "Oh, we are just a small business. We only have 7 people in our company." They almost always are surprised when I smile and respond, "You are actually a typical size business." I noticed some trends...
Strategic Alliances vs. Partnerships
First, what are strategic alliances? By definition, a strategic alliance is an agreement between two or more parties to pursue a set of agreed-upon objectives while remaining independent organizations. Strategic alliances could help you build strong...
Sometimes You Need to Say No
Attract the Right Types of Clients to Your Business If so, I would suggest staying true to your core strengths, resisting the urge to be all things to all people. I can speak from personal experience that growing too fast and pursuing opportunities can spread yourself...
Risk of Mandatory Generic Drug Plans
Many employers had to change their group benefit plans. They change it from one that allows brand name drug coverage, called Mandatory Generic Plans. (In order to keep this article a reasonable length I have simplified a few issues) The Reasoning Behind...
Keeping Your Business Relevant
Has your business become at risk of becoming irrelevant? I am thinking of a store I have shopped at over the years. It used to be a busy place, a good location well stocked with many of the products and services you would come to expect (and a few extras). Over time,...
I Thought Group Benefits was Insurance?
Many people think that group benefits are insurance. This is a common mistake. Does this scenario sound familiar? Your business has grown. You decide to look into getting benefits. You contact an insurance agent and they get you some quotes. One of the quotes stood...
Counting the costs of group benefits plans?
What are the costs of Group Benefits plan? This is one of the first questions that a new customer will ask is, what are the costs of group benefits plan? According to Benefits Canada, the average cost of employee benefits for one full-time employee is $8,330 per year....
Target Loss Ratio and Group Benefits
We are frequently asked how to explain how TLR’s work. What is TLR? TLR is short for Target Loss Ratio. When selling an employee benefit plan, one thing many insurance agents would definitely keep their distance from discussing is the target loss ratio of your group...
During this global pandemic, one of the most popular questions is “will my travel insurance cover that?” Many wonder "will my travel insurance cover during Covid? The Canadian government has restrictions in place for travel Avoid non-essential travel outside of Canada...
Group Benefits- First-Year Renewals
First-year renewals can be complicated. Sometimes rates change or the plans change. How can you make sure you are getting fair first-year renewals? What do you need to know about first-year renewals? Let's discuss both of those questions. Understanding the Basics of...
It's suggested that only 20% of people have specific goals, and only 30% of those with a plan actually meet their goals. This either means that most people are pleased with where they are at, or only 6% of people are on the path to getting what they want. Goals vs...
Get More for Less
More For less In Group Benefits clients frequently tell advisors "I want to get more for less." However, the reality in life is that you almost always get what you pay for. And often you will not get what you expected. That is when the true cost becomes apparent. When...
De-Risking Your Benefits Program
Have you ever wondered why rates for traditional, experience-based benefits plans can fluctuate so significantly each year? Is there a way to de-risking your benefits program? It's because you are sharing changes in risk with the insurance company through annual rate...
Client Priorities
Client Priorities is something that is important and relevant for anyone in sales. Listen to your client BEFORE providing advice. Client Priorities: While a salesperson might be passionate about what they believe is best for a customer, attempting to convince a client...
Co-operators COVID-19 Relief Measures
COVID-19 Relief Measures All of us feel the impact of COVID-19. This is why your benefits provider, The Co-operators has put in place many temporary COVID-19 relief measures. Therefore, this will assist plan sponsors in navigating these unusual times. During the...
Marketing Position and Distinguishing Features
Clear Benefits marketing position provides distinguishing features that set us apart from alternative group benefits providers. For example, our unique pooled programs and our experience-rated program offer a wide variety of coverage options for almost any budget....
Acquisition Pricing Hurts Clients – Why and How?
Have you ever started a group benefits plan or changed insurers for a lower price? Only to be told a year later that due to your high claims your rates have increased. The reality is that almost always the initial rates you were quoted were artificially low. Creating...
What Employee Benefits Are Most Important?
There is a variety of employee benefits a company can offer. You might be thinking "where do I begin?" We are going to discuss what benefits are most important to employees. We have noticed a shift in consumer trends in the last few years. Benefits that used to be...
Health and Dental Premium Relief Extended for June
The health and dental premium reduction we provided to plan sponsors for April and May gave relief in real-time. In implementing this, it reflected the anticipated decrease in plan member health and dental claims due to pandemic closure of service providers. We...
Keeping Social While Social Distancing
With Covid-19 going strong, there is a new normal that has arrived. We will talk about a few ways to help us to stay social while social distancing. Since the Covid-19 pandemic, health experts have asked us to social distance, keeping at least 6 feet apart from one...
Extending Benefits Through Layoff Period. How?
Due to Covid-19, there are many employees that have been laid-off. You might be worried about your benefits, how will being laid-off effect this? Is extending your benefits package through the layoff period possible? If so how? There are 2 options for extending...
How to Stay Focused Working from Home?
There are more people working from home now than ever before. With the outbreak of Covid-19, it has forced thousands of people to work from home. In this, article we would like to share some of the pros and cons of working from home. Then we will provide some tips on...
What Are The Benefits of Group Insurance?
First of all, there are a lot of insurance packages out there, for individuals and for groups. So, which should you choose? We are going to talk about what the benefits of group insurance are for you as employees and employers. Although the government sponsors many...
How Do Group Benefits Work?
To find out how group benefits work, first, we need to find out what they are. What are group benefits? Group benefits are plans that cover a group of people, such as employees in a company. It is offered to employees regardless of their age, profession, or social...
COVID 19: Support For Small Businesses In BC
Small Business BC Support For the latest information on small business supports, resources and advisory services during COVID-19, please visit Small Business BC. Advisors are ready to help by phone at 1-800-667-2272, email and daily digital meetups. See how COVID-19...