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5 Key Questions Insurance Advisors Should Ask During Renewal Discussions

Renewal discussions can be a bit overwhelming, but they’re also a prime opportunity for insurance advisors to connect with their clients. These conversations go beyond premiums and plan details, it’s about understanding what’s changed for your clients and how you can better support them going forward.

Here are five key questions to ask during renewal discussions to make sure the needs of the business are being met

 

1. How have your company’s needs shifted this past year?

Businesses change—sometimes fast, sometimes slow—but change always happens. Whether your client has hired more staff, downsized, or adjusted their overall strategy, it’s important to know if their benefits plan still fits. Asking how their needs have evolved opens the door to discuss whether their current coverage is still doing the job or if some adjustments are needed.

Do they have new priorities? Is there coverage they are not even using? Asking questions about how the businesses needs have changed can uncover opportunities that they might not have considered.

 

2. What feedback have you heard from employees about their benefits?

Employee feedback is golden. Knowing how employees feel about their current benefits package gives you valuable insight into what’s working and what’s not. Plus, it shows you’re not just looking at the numbers, but that you care about how real people are affected.

For instance, if employees ask for more mental health support or are confused about how to use their flexible spending accounts, you can help find solutions to address those concerns. Being proactive here shows you’re tuned into the bigger picture.

 

3. What’s your top priority for this renewal?

Everyone has something at the top of their list. Maybe it’s controlling costs, boosting benefits, or making wellness a bigger focus. By asking this, you’re zeroing in on what matters most to your client right now, so you can tailor your advice and keep them happy.

For example, if saving money is their number one priority, you can help explore cost-effective options without sacrificing coverage. It’s all about aligning your strategy with their main goals.

 

4. Have you noticed any changes in claims or how employees are using their benefits?

Taking a look at claims or utilization trends can reveal a lot. If there’s been an uptick in certain claims like mental health services, or preventative wellness items, could be a signal that it’s time to tweak coverage. Or, if there are benefits that aren’t getting much use, it could be worth exploring why and figuring out how to make them more attractive to employees. This question also shows that you’re digging into the data and making decisions based on facts, not just assumptions.

 

5. What challenges do you see coming up in the next year?

Getting a sense of what’s on the horizon for your client lets you plan for the future, not just the here and now. Whether they’re focused on attracting new talent, managing healthcare costs, or boosting employee retention, this question helps you position their benefits plan to address those challenges head-on.

Being forward-thinking shows that you’re in it for the long haul and not just for this renewal.

 

At the end of the day, renewal discussions are your chance to show that you’re more than just a benefits advisor, that you’re a true partner. By asking these five key questions, you’ll uncover the insights you need to recommend plans that fit your clients’ needs and keep their employees happy.

 

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