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Imagine having a trusted and expert business partner to help you close more deals, digitise sales and operations, reduce lapses and improve persistency. Your broker consultant is that person! Kobus Wentzel, Executive Head of Sales and Distribution at 1Life Insurance, explores how to build strong adviser-BC relationships to unlock more time, more advice and more success!
Your BC is your superpower!
Here’s how your BC can help make 2025 a record-breaking year for your business.
1. All the training you need!
Training and product accreditation ensure you are compliant and can advise and sell particular products. Your BC can also organise training on new products and any product updates, and give you formal notification that you have completed the training. They may also be able to organise business management training, including compliance and fraud prevention training, or suggest courses or webinars to attend that will help you manage and grow your business.
2. Help close more deals
Your BC can identify a product’s unique selling point and explain what differentiates it from other products in the market. They may also offer sales, lead generation and closing tips. In addition, your BC can help you with presentations to clients, including corporate clients, and with setting up payment facilities such as stop orders.
3. Reduce onboarding and admin time
Your BC can show you how to use online systems and processes to onboard clients quickly. They can also share ways clients can manage policies using self-service options, to reduce the time you spend on queries and policy admin.
4. Help you reduce lapses
Your BC can help you generate and analyse reports to reduce lapses and improve persistency.
Top tip: Your BC can also help manage your cash flow and structure your commission payments so that you have cash on hand when you need it.
5. Update you on industry developments
Your BC is a financial services professional backed by a team of specialists! Their knowledge of the latest financial services trends can help your business grow and even expand into new markets and products.
What your BC expects from you
Your relationship with your BC isn’t just a one-way chatbox! For your business to really benefit from their skills and knowledge, you need to be an active partner. This includes:
Running your business in a professional manner: Have a business bank account and meet any compliance, licensing and FAIS requirements. You should also be available and accessible by phone and email.
Sharing details about your business: The more your BC knows, the better they can tailor their advice to help you grow.
Giving feedback: BCs and product providers want to know what you, your clients and colleagues are experiencing and thinking so that they can offer relevant and competitive products. Share pain points and successes alike!
Asking for training: On products, regulations, industry developments, fraud prevention, business management and sales tips.
Set up a time with your BC today
Your success is your BC’s success! Building a strong relationship with your BC may take time and effort, but it’s an investment that will help your business thrive!