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Three Reasons Why Employers Leave Their Brokers

Every new year brings change. That's good. But according to the results of a recent survey of 5,500 employers in a range of industries, a majority of employers are not happy with the service their brokers provide. That's bad.

In the past, the ability to negotiate a lower premium always ranked highest. Last year 61% of employers said that was highly important, but that number dropped to 27% this year. So if premium and rates are not driving employers to change their brokers, then what is? Good question. Here are the top three reasons why employers left their brokers:

  1. Their broker did not provide the level of service expected.
  2. Their broker did not keep them abreast of regulatory and legal issues.
  3. Their broker did not properly manage insurance options.
These survey results got our attention … in a positive way. Why? Frankly, the results reinforce our broker-focused business and service model.

When it comes to service at MGIS, we put our money where our mouth is. To give physician groups reassurance that claims will be taken care of properly, we offer service guarantees that cover claims turnaround time, financial accuracy, and even response time to phone calls. If we do not meet these service standards while the contract is in effect, the policyholder is given a payment—calculated as a percentage of the policyholder’s annual premium, up to 3%.

As for staying on top of regulatory and legal issues, click here to read more about how we can help you navigate the challenging waters of today's medical landscape. Additionally, your MGIS team is standing by to answer any questions you may have.

Finally, our physician contract and options remain rock-solid. If it's been a while since you looked at the unique features of our specialized income protection, click here.

As an MGIS broker, you can be confident that we will continue to provide the high level service, unique industry insight, and the contract strength and options that you have come to expect over the years -- 45 years to be exact. Better yet, when you write business with MGIS it stays with MGIS. With retention rates averaging 94%, your groups are with us for the long haul.

We like to think of it as staying power. Some things never change.


Randy Tate, MBA, GBDS
Vice President of Sales | THE MGIS COMPANIES, INC.
800.969.6447, ext. 162 toll-free | 801.910.9632 cell |
© 2014 The MGIS Companies, Inc.
800.969.6447 | 1849 W. North Temple, Salt Lake City, Utah 84116-3067

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