Trevor Croley: Embracing Individual Health
In the business since 1949, Croley Insurance and Financial has traditionally focused on P&C and employee benefits. Trevor Croley sat down with us recently to discuss how his family's business is successfully taking on the growing individual market.
Norvax: What brought Croley into the individual market?
TC: We've always sold individual health plans in some fashion, though a larger part of our bread and butter is employee benefits. This was an area that if we didn't embrace it, then we'd just be losing business left and right. So we had to do this. And because of that, and because employers have decided to cut back on contributions or even in some cases do away entirely with group plans, it's just opened up another opportunity for us.
Norvax: How did you have to adjust to serve individual clients?
TC: You have to be staffed for it. Writing an individual plan is probably just as much work as writing, in some cases, a small group. Because people are going to have the same concerns whether it's a group or an individual plan.
The other thing is that individually speaking, you're probably going to be dealing with people more than you would under a group plan. Most of the time with group plans, the HR department is the one involved with a question or a problem, or a billing issue. Our door is always open to anybody to help, whether it be group or individual, but we are the HR department for an individual.
A lot of people look at the service side as a detriment on individual plans. In our opinion, it's actually a positive thing. Because if they're calling us, that's another opportunity for us to talk to them about something else.
I think if you're going to do the individual stuff, you've got to go into it with the notion that you've got to sell more of them. It's a numbers deal.
But it can turn out to help you out, because a lot of times these individuals have other needs. And so if you do it right, you could keep these people for a long time. The other thing is that these individual plans usually stay on the books, whereas a group could go. They could leave you tomorrow because someone cold called them and could find a better deal.
Norvax: Why is it important for established agencies such as yours to adopt new technologies as they emerge?
TC: For us, more than anything, we don't want to get left behind. From a technological approach, people are becoming more savvy. They want to gather information without really having to go through a channel, or to have to go through an individual. I think eventually it leads to the individual sitting down with someone. The sale itself doesn't happen over the internet, or necessarily just because of a website. But a lot of times, it's initiated that way.
Norvax: You actually have a couple websites. How do they help you promote your agency?
TC: The Croley Insurance website is strictly just an information site. We designed that one without any type of quote engines on it simply because we wanted something that someone could go to and say, "It wasn't a site just selling something right off the bat." That site explains who we are and what types of services we offer. And that, we have found, usually prompts people to call us. And we prefer someone to call us.
If we get the phone call, and someone wants a quote, then that's when we usually direct them to our quoting sites, like BCBScollege.com, or DirectRate.net. These are websites that we can use to actually sell to someone, whereas the other one is a softer approach.
If someone calls and you get them on the website with you, it's just an incredible tool.
Norvax: Aside from their purchasing habits, individuals have a wide range of ages and incomes. What's helped you meet those needs, and place policies?
TC: We've had tremendous success with Anthem Blue Cross and Blue Shield across the United States. Name recognition has a lot to do with it. I think you can generally find a plan for someone with just about any health carrier that would suit them, but when you start breaking some other things down, benefit-wise it's the ability for a company to pay claims and to not have issues.
As an agent, and as someone who usually takes care of claims issues, I also want to deal with a company that I can get stuff done with, and work with people that can help me with an issue or a problem. Anthem Blue Cross and Blue Shield is very accommodating with that.
Norvax: Anthem is now going to be available for quoting in your area on the Norvax Quote Engine. Do you see that facilitating an easier transaction for both the individual and agent?
TC: Yes. It was kind of a project that I had. I had the opportunity to visit with the Norvax team on a trip to Las Vegas, with at that time Blue Cross. And so when we found out that eventually we could quote Indiana, Ohio, Kentucky, I thought this was a great thing.
But just like anything else, it's technology that people have to learn. And those that basically will take the time to learn about it will find that it is a timesaver, and it should increase their business. But for those that just want to pay for it and plug it in, and not work with it, it might be a little frustrating. It's not one of those magical systems that you just let it go and it's done. You've got to work it. But if you do, you'll find that it's a very easy way to structure a business.
Norvax: Now that you'll be able to quote Anthem online, do you anticipate it will help you place more policies?
Oh, yes. We've been really excited. We've been waiting for this to happen because we think it's going to be an easier way to sell, and to get into markets that we weren't in before.
We enjoy a very good relationship with Anthem. As long as they continue to come up with innovative products, and as long as they continue to keep their rates competitive with the marketplace, I think we'll always continue to work with Anthem.
To learn more about Anthem, contact them at 1-800-542-7988.
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