Flexible payment plans mean that it is possible to maximise the salary to be received by employees and, at the same time, enjoy the advantages of the collective contracting of products and services.

Health Care insurance policies are currently one of the products most frequently taken out through flexible payment plans. For this to be possible, a broker is needed to overcome the principal barriers to contracting encountered by employees and companies.

In this regard, the following is necessary:

> Deep understanding of flexible payment: it is essential to be conversant with the mechanisms, the legislation and the commercial problem areas of this way of marketing products.

> Deep understanding of the insurance market: it is also essential to be conversant with the products, the suppliers, the problem areas and the clients of such complex products as insurance policies.

> Negotiating powers in insurance products: the capacity to negotiate customised products for each client segment is essential, in terms of both the competitiveness of premiums as well as in risk acceptance and ease of processing.

> Management and sales capacity: the capacity to respond to incidents and procedures generated by marketing is essential, as is having the proper IT support to facilitate distribution and help push the product "in situ" in client companies.

The 3 mainstays which underpin a good flexible payment plan are proper contracting, finely-tuned maintenance and sound exit alternatives in the case of individuals who leave the company:

Contracting schedule:

> Obtaining competitive products:

Having products suitable for small and medium-sized enterprises with good conditions for offering quality at reasonable prices to companies that do not have sufficient volume.

Having the experience and capacity to negotiate with Insurance Companies to obtain the best collective policies for companies that "deserve" customised products.

> Advising the insured party:

Informing the insured party in order to overcome any fears and doubts that they may have.

Having all the necessary up-to-date informative documentation at hand.

> Facilities for contracting:

Minimising, as far as possible, the problems existing at the time of taking out the product or migration from other health products.

Integration into the software package used by the company.

Maintenance:

> Dealing with annual renewals: companies vary their rates every year, sometimes in an abusive way, making the capacity to negotiate essential.

> Guidance in the event of any contingency: health policies give rise to a certain level of incidents and the capacity to manage and attend to them is therefore essential.

> Registrations and deregistrations: constant administrative management is required.

Withdrawal:

> Product: having parallel products prepared for family members that are not included or for employees that leave the company.

> Guidance: All the characteristics related with taking out insurance policies and with withdrawal are repeated.

Apart from all this, we need to constantly keep abreast of developments in the insurance market, the regulatory changes that affect us and any new technological tools which may be useful.

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Collective Insurance | Flexible Payment Plans | Key-person Life Cover