With a streamlined quoting process, you have the potential for more Medicare sales.
However, selling health insurance to the under-65 and 65-and-over markets makes it difficult to keep client details and medical information organized, and you can lose out on prime sales opportunities.
Make no mistake: to close new deals, retain existing clients, and meet your revenue targets, you need the right technology to make the Medicare quoting process seamless. Unfortunately, many agents are still using Medicare.gov and other simple tools to navigate a complicated Medicare system.
Fortunately, there is an easier, less stressful way to increase sales. Let’s compare Medicare.gov vs. Quotit’s Medicare Quoting Tool.
What You Need To Increase Your Medicare Sales Volume
When it comes to landing Medicare sales, insurance brokers have the chance to reap massive returns. Recent numbers show that nearly 68 million Americans are enrolled in Medicare, and 32.8 million are enrolled in Medicare Advantage plans.
You can tap into this opportunity with the right mix of technology and best practices.
Whether you’re comparing Quotit and Medicare.gov or looking at other insurance quoting software, there are several critical things your insurance tools should help you do so you can land more sales:
Stay organized. If you want to find upsell opportunities, keep clients happy, simplify your job, and work more efficiently, your quoting software must keep you organized.
Open up communication. Medicare sales rely heavily on communication. Your insurance tools should open up the line of communication and make it easy for you to cultivate relationships.
Build trust. Your insurance software should help you build trust with clients and leads throughout every interaction. The easier your quoting, proposal, and enrollment processes are for your clients, the stronger your bond will become — and the easier it will be to turn clients into walking billboards for your services.
Medicare.gov vs. Quotit: Is There a Difference?
Because it’s a U.S. government site, Medicare.gov is a popular tool for pulling Medicare quotes. It’s also a helpful resource for some Medicare beneficiaries.
However, if you’re an agent who relies exclusively on Medicare.gov for pulling quotes, you could be missing out on sales and convenience. Here’s a breakdown of Medicare.gov vs. Quotit and the differences between these two quoting tools:
An Overview of Medicare.gov
Medicare.gov is designed to help the 65-and-older market easily read and compare options when it comes to Original Medicare, Medicare Prescription Drug Plans, Medicare Advantage plans, and Medicare Supplement (Medigap) insurance policies. Medicare.gov can be a basic tool to help you get the job done. However, if you want to make more Medicare insurance sales and simplify your job, Medicare.gov has some disadvantages.
Data Storage Problems
The first big holdup insurance agents face when using Medicare.gov involves storing and organizing information. For starters, the data isn't saved when you gather necessary information — such as prescriptions, doctors, and pharmacies — and load it onto the website to search. Every time you pull a new quote, you must enter the same information again.
Sounds exhausting, right?
At the same time, this can make the process incredibly frustrating for over-65 clients because if you don’t have detailed records, they will have to repeat their prescriptions, doctors, and pharmacies to you every time they need a new quote pulled.
Repetition and Productivity Black Holes
Another big issue with Medicare.gov is its extra burden on insurance brokers and agents. When you use Medicare.gov for Medicare quotes, you can spend much time doing the same thing repeatedly.
Imagine if your clients want you to pull additional quotes or shop for additional products. Your research and entry duties will skyrocket if you’re relying on Medicare.gov.
You might repeat your efforts further if you also sell to the under-65 market and have different tools and processes to quote policies for them. Research suggests that context-switching can waste as much as 80 percent of your time. Your efficiency will plummet if you toggle between apps and processes all day as new calls and emails come in.
It’s that simple.
Luckily, Quotit’s insurance software is designed to fill these gaps and set you up for success with simpler quoting.
Quotit’s Tool for Agents and Brokers
Quotit’s health insurance software is used by leading agents and brokers nationwide. With coast-to-coast carrier coverage, more than 46,000 plans, and $3.4 billion in insurance premiums enrolled, it’s easy to see why we’re the solution of choice.
We deliver the advantages you need for successful Medicare sales.
Three Advantages of Quotit’s Medicare Quoting Tool
Medicare can be a maze for beneficiaries; they need guides like you to navigate its complexities.
With a revolutionary Medicare enrollment solution, you and your clients have the outcomes you deserve. Let’s look at the three key advantages of Quotit’s Medicare quote engine for agents and brokers.
1. A Single Platform for All Customers and Prospects
How do you solve the diverse needs of two populations – those under 65 and those 65 and older?
The complexity of managing both groups presents challenges for you and platform vendors. Many vendors specialize in only one population, forcing agents to switch between solutions throughout the day.
You can ditch the switch between multiple platforms.
Quotit’s comprehensive health insurance software handles eligibility verification, quoting, and enrollment for different age groups from a single efficient platform that includes the tools you need to streamline your operations and maximize opportunities.
2. A Medicare Engine Powered by Tools for Organization, Productivity, and Compliance
The best agents and brokers stay organized, focus on productivity, and meet all compliance requirements. Quotit’s end-to-end CRM gives you:
- Customized fields out-of-the-box specifically created for insurance professionals
- Tools to automate your follow-up efforts, appointments, and renewals
- The ability to track client communications, application statuses, and carrier updates
Becoming more efficient is critical, especially in meeting the compliance requirement of obtaining and maintaining Scopes of Appointment (SOAs). To meet these needs, Quotit’s SOA feature expedites enrollment and compliance.
Regular Product Updates for Continuous Operational Improvements
Health insurance sales is a fast-moving world, and you need a solution that keeps up with changes. That’s why we make regular product updates to keep you ahead of the competition. Here are just two of our recent additions:
Beneficiary Eligibility Query (BEQ). Quotit’s BEQ enables insurance agents to efficiently compare benefit enhancements across various plans and provides crucial insights for personalized client recommendations. It allows agents to validate Medicare Beneficiary Identifiers, check Part A and B effective dates, assess Low-Income Subsidy levels, and review clients' current Medicare Advantage plans.
Call Recording Tool. Documenting conversations about Medicare Advantage or prescription medication coverage takes time unless you use Quotit’s new Call Recording Tool. Our system recognizes the corresponding client, directs you to their client record, and attaches the call recording to their profile. And there is no worry about losing missed calls; Quotit logs those for you, too!
SMS Text Messaging for Scope Of Appointment Signing. Nearly everyone has a cell phone – literally. 97% of Americans have a mobile phone, and 75% reply to B2C text messages within 15 minutes. With Quotit, you can put the SOA in the cell phone in their hand so they can sign wherever they are.
3. The Ability to Maximize Opportunities
Medicare Advantage is significant for beneficiaries and agents like you. Annual Enrollment Period lets you help your clients meet their insurance needs while allowing you to cross-sell for increased sales.
To maximize your opportunities, Quotit makes it easy for you to:
- Conduct a comprehensive review of existing coverage
- Educate clients with plan comparisons
- Address plan modifications proactively
- Stay up-to-date on regulations and compliance standards
One of the most valuable cross-selling opportunities with your Medicare beneficiaries is with prescription drug plans. Quotit’s Estimated Annual Retail Drug Cost for Medicare Advantage (EARD) tool matches prescriptions and streamlines calculations for instant and precise estimates of annual drug costs.
Quotit: Bridging the Gap Between Opportunities and Sales
Are you ready to convert opportunities to sales?
Quotit's comprehensive Medicare quoting tool streamlines your workflow, enhances client communication, and maximizes sales opportunities.
Take our quick quiz and discover tailored solutions that will help you boost your sales and streamline your operations.
