Founder of Redbird Advisors and EVP of Digital & Acquisition Marketing for Senior Market Advisors, a Medicare FMO.
Value-based care (VBC), driven by the Centers for Medicare and Medicaid Services (CMS), has emerged as a cornerstone for redefining the customer journey—creating a profound shift in the insurance landscape. Those who are willing to adapt and embrace a value-based approach (VBA) will shift from a product-centric to a customer-centric approach. This requires a fundamental redefinition of the sales process, moving away from a purely transactional model toward a more engaging, collaborative and impactful approach.
Redefining the customer journey is a reset—it’s innovation; it’s the future.
The Conscience Salesperson
A value-based approach prioritizes understanding and addressing our customers’ true needs. We guide them through the complexities of insurance, focusing on what’s best for them, not just selling products.
Confidence is key in sales, but it must be balanced with a genuine commitment to doing the right thing for the customer 100% of the time. Never sacrifice integrity for a quick sale. Clients want to feel heard, valued and supported, and it’s part of our job to deliver that. This mindset—balancing salespersonship with an unwavering commitment to doing the right thing—can transform the way we do business, leading to higher satisfaction and loyalty.
Imagine a senior client facing the daunting task of selecting a Medicare plan. Instead of simply presenting a list of options, we should take the time to understand their individual health concerns, financial situation and lifestyle preferences. This personalized approach allows us to recommend the plan that truly aligns with their unique needs. By proactively explaining the value and potential benefits of these products, you help ensure clients are well-prepared and protected.
A Customer-First Approach
Adopting a customer-first approach involves prioritizing the needs of the customers and building strong, lasting relationships. This means going the extra mile—calling them back promptly, responding to their inquiries with urgency and celebrating their milestones. Simple gestures like handwritten thank-you notes or a birthday phone call can go a long way in building strong, lasting relationships.
Our agency conducted a deep dive into all customer touchpoints, inventory and high-impact areas and found that 80% of inbound calls were terminated within 40 seconds of the phone tree, so we reevaluated our automated voicemail system. Measuring and repeating these efforts every 90 days has led to significant improvements in customer satisfaction.
Understand The Value Of Your Products
It’s important to clearly explain your products, their policies and benefits to each of your clients. For example, if you knew that there was an add-on to your homeowner’s policy for $50 a year that was sewer lateral protection and you just had to pay $2,000 or $3,000 for a fix, would you be irritated that your agent didn’t tell you about that? You probably would be!
Our role as a licensed sales agent is to proactively identify potential risks and explain the benefits of our offerings—from life insurance that protects loved ones to long-term care options that safeguard their financial security.
Implementing A Value-Based Approach
Intentional and effective communication is imperative for successful professional relationships—both with clients and employees. Every change you make should be centered around how to better serve your customers. Clearly communicate the “why” behind any changes or new initiatives, emphasizing how these changes ultimately benefit the customer.
Upon implementing a VBA, I educated our agents by having them tour VBC facilities to better understand and educate their clients. Then we applied value-based care education on the front end of the sales cycle versus the back end of the sales cycle.
Positioning VBC fundamentals and education in front of our presentation helped identify and solidify if this fits the needs of our prospects and clients. We provided clear education and examples of VBC across all customer touchpoints and started with one basic question: Would you rather spend 40 minutes with your doctor versus 10 minutes? Once clients were educated on VBC, they felt empowered and informed to make their plan selections, leading to increased enrollments and higher satisfaction.
But VBC isn’t just a trend in healthcare; it’s a fundamental principle that should guide all our interactions and will shape the future of business as we know it.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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