Signs It's Time to Expand Your Insurance Portfolio & Make the Move!

We get it – expanding your portfolio can sometimes seem like a “why bother?” situation.

Whether it’s because you’re closing sales, so you don’t see a need to, or you’re discouraged because you aren’t selling the plans you’re already contracted for, it can be an idea that gets shoved in the back of your desk drawer and forgotten.

Well, here’s a little secret — it’s always beneficial to review and add to your product portfolio! Here are some signs that it’s time to make the move!

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It’s Been a While Since You’ve Added a New Product

Bread, pretzels, cereal, your portfolio — all of these things can become stale! To put it simply, you need to refresh your offerings every so often to keep a competitive edge against the competition. If you’re satisfied with the collection of products you’re already contracted to sell and they serve you and your clients well, that’s fantastic! But it never hurts to see what’s out there and make calculated additions.

Agents partnered with Ritter have access to a great perk that provides a targeted snapshot of various plans and carriers. Our sales specialists conduct portfolio reviews and put together free Smart Sheets that outline the competitive carriers and plans in your local sales market. This resource can take away some of the stress that expanding your portfolio can cause.

It never hurts to see what’s out there and make calculated additions.

Clients Are Asking About a Product You Don’t Sell

It’s an awful feeling when a client says, “I am interested in _____, do you sell that?” and you have to say “no” because you don’t have that coverage option or plan in your portfolio. Ugh, a lost sale!

It’s not realistic for you to contract with every single insurance option in the chance that a client will ask about it, but you can make sure you’re selling the hot products in your service area. This is another instance where our Smart Sheets come in handy! Region- and state-specific, your Smart Sheet reflects your area’s top products, which are coverage options clients are likely to ask about!

New Contracting Opportunities Become Available

When new carriers and plans hit the market, this creates the possibility of brand-new selling opportunities. It’s worth taking some time to do a little research and determine if a new carrier/product would be an asset to your portfolio.

If you work with a field marketing organization (FMO) like Ritter, we can help you fact find and save time! Occasionally, a little reassurance is also helpful, and we’re here to give you that, too. We’ll make sure you’re confident in your decisions about which carriers and products you pursue.

Sometimes, it could just be that a carrier is new to you. At Ritter, we are continuously entering exciting partnerships with first-rate insurance carriers, which provides new selling potential using our tools and support. Completing a quick and free registration with Ritter unlocks all that we have to offer!


Learn more about what FMOs can do for your business by downloading our eBook!



Your Portfolio Lacks a Variety of Coverage Options

If you’re a regular on this blog, then you’ve probably seen our recommended portfolio breakdown before. But there’s a reason we keep sharing — it’s that essential!

An example of an ideal portfolio includes:

And that lineup is just the bare essentials of a successful portfolio. There’s still final expense, life insurance, cancer, heart attack, stroke and other ancillary coverage options to consider! Luckily, we have a dedicated More than Medicare team that can provide the ins and outs of these coverage types and tips for developing an effective sales strategy.

Good agents provide coverage for their clients, but great agents provide full coverage for their clients!

A diverse portfolio can only heighten your chances for successful sales and open the door for cross-selling. We’ve mentioned before that good agents provide coverage for their clients, but great agents provide full coverage for their clients! Insurance coverage gaps can create some tough issues like high out-of-pocket costs and a lack of receiving needed health care. Having a stacked portfolio increases your sales potential, but more importantly, it equips your clients with all the coverage they need to live happy and healthy lives. (And, what client wouldn’t refer a full-service agent who provided them with comprehensive insurance coverage?)




You Just Realized You Could Be Making More

Yes, that’s right — there’s the possibility that you could be making more money! The more plans and variety of insurance coverage options you have in your portfolio, the better chance you have at both selling and cross-selling.

An easy way for agents to earn more money is by offering ancillary products. As mentioned, coverage gaps can be a real issue, so cross-selling ancillary plans alongside MA plans and Med Supps can increase your commissions by 30 to 200 percent, or even more, depending on the products you sell.

ACA plan sales commissions can add up quickly!

If you enter the ACA market, agents selling this insurance typically earn commissions on a per household member, per month (PMPM) basis. So those commissions can add up quickly, and if your client remains enrolled in marketplace coverage, you can continue to earn commissions. Also, many carriers offer production-based bonuses during the ACA Open Enrollment Period (OEP), which increases your earning potential even more!




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We all experience doubt in a variety of different circumstances, but it’s important to not let it hold you back, especially in your career. When you think “why bother?” that’s when it’s time to dig in and try even harder! Keep an up-to-date and robust product portfolio and let Ritter help you make it happen by signing up today!

Not affiliated with or endorsed by Medicare or any government agency.

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