The Quoting and Proposal Process for Health Insurance Agencies

Group benefits brokers have a lot on their plate:

  • Gathering employee information
  • Pulling medically underwritten and community rated quotes from carriers 
  • Working with their carrier reps
  • Creating client-ready benefits proposals
  • Finalizing paperwork and sending data to carriers
  • Plus sending communications, servicing, and selling their small group insurance clients

Luckily, with a quoting and proposal tool like Quote+, an AgencyBloc solution, you can break down inefficient workflows in your agency.

How to Quote & Build Proposals Efficiently

We’ve found that a majority of brokers typically spend 18 hours working with each of their small groups per year.

Graphic showing how brokers spend an average of 18 hours per Small Group per year

On average, brokers spend three hours coordinating the quoting process. This involves gathering information, researching carriers and plans that fit what the client is looking for, and determining how much each option will cost.

The next four hours are spent on Open Enrollment coordination, where the broker presents the options and, once a decision has been made, gathers employee elections and/or employee medical health data for underwriting.

Then, it comes time to finalize all of the paperwork and give the carrier the order. This stage requires about three hours of the broker’s time.

The last stage consists of the time brokers devote during the rest of the year, an average of 10 hours per group, providing their clients with ongoing support.

In these first three stages alone, a broker typically spends 10 hours managing everything that needs to be done. But this time can be drastically reduced with the help of an industry-specific quoting and proposal software solution, like AgencyBloc’s Quote+.

Quoting Software for Life & Health Group Benefits Brokers

Quoting software helps employee benefits agencies be more efficient so that you don’t have to choose between the work that needs to be done and the work you want to do.

Quote+, an AgencyBloc solution, is a streamlined, all-in-one quoting and proposal tool that helps group benefits brokers streamline their sales process and improve client retention. Some features of Quote+ include:

  • Compare, quote, & generate proposals for community rated, medically underwritten, and ancillary offerings in one place
  • Export all selected plan and pricing data to easily create client proposals with one click
  • Easily gather employee information through an medical health online interview that is compatible with thousands of carrier forms
  • View products through a private, broker-controlled, online marketplace 
  • Seamlessly gather and submit employee forms and censuses directly to carriers with HIPAA-compliant software

The 6 Steps of Quote+, an AgencyBloc Solution

So how does it work?

We break down the quoting and proposal process in Quote+ into six steps. 

The first two consist of adding employer and employee information to the system before configuring your proposal setup in step 3. Next, select which employee coverage lines and options will need to be included before viewing and comparing the products in step 5. Lastly, generate a proposal that’s ready to send to your employer group for review.

To learn more about these six steps in Quote+, check out the infographic below. On some screens, the text may appear small, so click on the image to open a larger version.

The 6 Simple Steps to Quoting Small Group Insurance in Quote+ infographic

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Add Employer Basics

Enter and maintain basic group information, like name, tax ID, SIC, NAICS, pay period, number of employees, and main contact information.

Add Employee Demographics

Manage group employees, dependents, and relations in one central location to create a comprehensive employee census that can be used within the quoting and proposal processes.

Configure Proposal Setup

Give your proposal a name, add workflow dates, select whether or not an MHQ is required for employees, and more.

Select Employee Coverage Lines

Which coverage lines will be included in the proposal? Select from Medical, Dental, Vision, Life, and more.

View & Compare Products

View and compare community rated, medically underwritten, and ancillary products all in one place. 

Generate Proposal

Once you have selected products you would like to present to your small group, your ready-to-use proposal is ready to export!

Wondering how this could work in your agency?

The best way to learn more about Quote+ is through a demo. We offer personalized 1-on-1 demos with our experienced sales reps for you to talk through everything.

Not ready for a demo? Check out our overview video to see a high-level overview of Quote+.

Click below to request a personalized demo.

Request a Demo

Posted by Sarah Rosonke on Tuesday, August 15, 2023 in Quote+

  1. client retention
  2. open enrollment
  3. quoting
  4. selling

About The Author

Sarah Rosonke

Sarah is the Design and Content Specialist at AgencyBloc. She creates and designs helpful resources to support life and health insurance agencies in growing and automating their business. Favorite quote: "You'll never do a whole lot unless you're brave enough to try." —Dol ... read more