BENEFITS BUSINESS PROVIDES DEPTH & LEVERAGE    LBW builds client ties with P-C, benefits, HR support, tech training, retirement services Employee benefits do not have to dominate an agency's book of business to be that glue that holds together success. Even a relatively minor contribution in revenues can represent a high level of expertise that builds customer confidence. At LBW Insurance and Financial Services in Valencia, California, property/casualty insurance is the agency's biggest money-maker, generating about 65% of revenues, says Chief Executive Officer and Managing Partner Mitzi Like. But employee benefits, which generate about 25% of revenues, give the firm depth and leverage that opens doors and stimulates a steady flow of new business from an expanding client base. Once executives are pleased with the benefits solutions, they are likely to think about LBW for their personal financial services, Like says. Life insurance and financial service contribute about 10% of revenues. The agency also provides human resources support and training and technology risk management under its Tech Secure division. The Tech Secure program identifies information technology risks and helps employers guard against accidental disclosure, deal with data breaches, and recover from electronic attacks. As part of Tech Secure, the agency also consults on some of the newest technology-related issues, assisting employers with the development of a social media policy that covers Facebook, Twitter and other popular new communications tools. "We are a full-service agency," Like explains. "Our ability to manage all aspects of our clients' needs enhances our reputation and gives us the opportunity to interact with local clients at several levels within their organizations." Click here for the complete article …

DENTAL AND VISION BENEFITS HELP EMPLOYEES STAY HEALTHY    Cutting ancillary benefits may lead to higher health care costs When times are tight and employers have shifted as much of the cost of their group health plans as they can without affecting recruitment and retention, ancillary benefits such as dental insurance and vision care become targets. Should employers sacrifice ancillary benefits to balance the rising premiums for group health plans? The idea may be appealing, but cutting employer-paid vision and dental insurance benefits may create some big risks, according to recent research, and may actually increase health care costs over time. This is an important message for agents to communicate to employers as they make their benefit plan decisions. There's more to ancillary benefits than meets the eye-or the teeth. Lack of dental care can lead to periodontal disease, and recent medical research indicates that periodontal disease can be a precursor to two of the most expensive long-term medical costs: diabetes and heart disease. The American Dental Association and the American Heart Association have long pointed out the link between oral infections and heart attack risk, recommending antibiotics before dental procedures for individuals with heart conditions and cardiac risk. New research makes the link even tighter. A 2010 study led by the University of California, Berkeley, School of Public Health suggests that women who get regular dental care reduce their risk of heart attack, stroke and other cardiovascular problems by at least one-third. Click here for the complete article …

PLAYING TO WIN OR PLAYING TO NOT LOSE    In fast-changing benefits field, "not losing" won't be good enough How are you playing the game? Are you playing to win or are you playing to not lose? As hard as it may be to believe at first, a strategy of playing to not lose has produced pretty good results, at least up to this point. However, benefits producers whose continued goal is to avoid losing will find they are facing certain defeat. Let's start out by discussing what it means to play not to lose, as opposed to playing to win. Don't get me wrong, playing not to lose doesn't mean that the players aren't good. However, it does mean that they play defensively and most likely don't go out with an exceptional performance. Playing not to lose Playing not to lose is actually the result of having successfully played to win at one point. Producers build up a nice book of business, generate a nice income, enjoy a great lifestyle, and achieve an enviable work/life balance. When they realize they have more than they ever really expected to have, a switch is flipped and a level of complacency sets in. Instead of continuing to do the hard things that resulted in all of their wins, they start focusing on protecting what they have. And, up to a certain point, that actually works pretty well. Instead of continuing to be aggressive, they become defensive. Instead of looking to give reasons for new clients to say "yes" to them, they become much more concerned about not giving their current clients a reason to say "no" with the hopes that no one else comes along and gives that same client a reason to say "yes" to them. The primary reasons that the same strategy has worked reasonably well for so long is two-fold. Click here for the complete article … RAMPING UP RETIREMENT PLAN REVENUES    The Hartford helps P-C agencies to diversify into sales of retirement plans Independent property/casualty agents seeking to diversify into the employee benefits market can turn to a variety of insurance companies for products. Except in the group major medical field, where the list is rather brief, there is no shortage of financially strong carriers offering benefits products-including life, disability, supplemental health, long-term care and retirement products. Many of these companies are household names, marketing individually as well as through benefits plans. These benefits providers can bring to the table a solid product lineup and decades of experience in the employee benefits market. What they often lack, however, is a familiarity with the property/casualty agency business model. These carriers are certainly willing to work with a P-C agency's benefits department, but they are more used to working with pure employee benefits brokers, consultants and financial planners. This is particularly true in the retirement products market, where the lineup of retirement plan providers includes not only insurance companies but investment firms as well. One exception to this scenario is The Hartford. The company has some 11,000 independent property/casualty agents under contract. Yet it also is a major player in the retirement market, ranking in the top 10 in plan count in two independent studies of plan providers, including insurance companies and asset managers. A 2010 LIMRA study (Life Insurance Marketing and Research Association) ranked The Hartford #1 in plans written for the small business market (under 25 lives). Click here for the complete article …  Click here to unsubscribe This message was sent by The Rough Notes Company, Inc., 11690 Technology Drive, Carmel, Indiana, 46032 1-800-428-4384