How does implementing Piedmont help protect your accounts from a competitive takeover?  Remember, 58% of VB sales are takeover sales, so protecting your accounts is critically important.  First, most competitors use “billing issues” as the thread of discontent when taking over an account.  Secondly, by eliminating the employer bill, you alleviate the #1 source of client frustration and never give the competitor that opportunity.

But it is more than that.  Let’s say a competing agent or broker is successful at taking your account at the payroll/HR level…It has happened to everyone…

In payroll deduction, that competitor can roll you out entirely by convincing the payroll/HR manager to stop your deductions or cancel the bill entirely – even if your policyholders want to keep their policy and payment method as is.  Since the billing lies with the employer, they get to hold all the power.  But with Piedmont’s model, the employer has no deductions to stop and no bill to cancel.  We collect from each policyholder individually (through EFT or split direct deposit), taking away the power from your client or competitor from switching existing policyholders.  This can discourage employers from switching since they cannot make employees on bankdraft or split direct deposit change carriers.  Plus, this can discourage competitors if they know they cannot have a blanket turnover at the push of a button, especially in heavily penetrated groups.  And for many, this may prevent them from reaching underwriting minimums to take the case over at all.  Not a bad thing to have in an industry with hypercompetitive takeover sales. And this applies not only to existing cases, but setting up new cases with Piedmont keeps them insulated from the start. 

Competition isn’t going away.  For this upcoming open enrollment season, utilize Piedmont’s model to insulate your accounts and income – and eliminate the employer bill in the process!  And now, earn fee income when using Piedmont’s zero-bill solutions with full commissions and down to three lives!  Contact us to learn more and thank you for using Piedmont, the Original Payroll Deduction Alternative!