As the popularity of Professional Employer Organizations (PEOs) continues to rise, it’s easy to see why many insurance agents have become wary of their presence in the marketplace. While it’s true that insurance agents have lost some clients to PEOs, it’s equally true that many are beginning to refer their clients into the PEO space in an effort to find creative solutions that benefit all parties.
Rather than viewing PEOs as competitors, let’s instead take a look at how forming a business relationship with a PEO, better yet, a PEO Broker can actually make life better for those working in the insurance industry. By embracing cooperative partnerships, insurance agents can protect their book of business, increase client retention and satisfaction, reduce risk exposure, and enjoy additional commissions. As a PEO Broker with access to dozens of Professional Employer Organizations, Niroc Consultants helps insurance agents find the right PEO that will best fit your client’s needs.
Considering the variety of challenges facing business owners, it’s no surprise that PEOs have established themselves as a valuable resource. They offer small businesses many of the benefits of a larger company, complete with solutions relating to payroll administration, human resources, employee benefits, workers’ compensation & risk management coverage, and regulatory compliance. According to The National Association of Professional Employer Organizations (NAPEO), 98% of business owners who are PEO clients would recommend a PEO to a business colleague. Therefore, in an effort to differentiate themselves in an already competitive environment, those agents who have clients take advantage of the PEO solution, to offer more services and expertise, will be far more likely to see their book of business grow moving forward.
Apart from standing out in a crowded market by offering a wider variety of business solutions to their clients, insurance agents can benefit greatly from a PEO Broker relationship when it comes to certain specific client types: 1) those with startup businesses, 2) those working in hazardous industries or facing rising mod scores or 3) clients searching for an alternative to the ever-increasing health care costs. Allowing Niroc to assist you in finding the right PEO solution for your client will not only save you valuable time but will also allow for a search in the best possible pool of PEO’s to meet the client’s needs. Finding a PEO that will issue a quote might be easy, but finding a PEO that will approve the client, provide competitive pricing and that will meet the needs of the client is a much harder process. Niroc Consultants’ daily focus is the PEO industry and finding that right fit from the right pool of PEO’s is what we specialize in.
Cultivating a relationship with a PEO Broker can create a winning arrangement whereby the agent, the client, and the PEO Broker can all benefit. As small business owners face an uphill climb with challenges at every turn, insurance agents who provide increased value and opportunity will set themselves apart in a highly competitive marketplace. The agent will protect their book while growing their business and boast a long list of satisfied clients.
Let Niroc Consultants partner with you to find the best fit PEO for you and your clients. Every client that we place together, we share in commissions on a residual basis for the life of the account. This arrangement is in writing and we are happy to send a copy of the Marketing Partner Agreement for review.
So allow Niroc Consultants to be your PEO expert for any client nationwide with a company size as small as 1 employee and up. We will find the best fit PEO for you and your client. And remember, every client that we place together, we share in commissions on a residual basis for the life of the account.