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Success Strategies
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Interview Questions
1. At MWG Broker Services, when we think about an individual dental company, Renaissance is one of the top companies that comes to mind. What drove Renaissance to focus more on individual dental than group dental?
Renaissance Life & Health Insurance Company of America has only been around since 2006, so we are relatively new to the insurance scene. We found there was a great change occurring in the ancillary space that would lead to rapid growth in the individual marketplace. Renaissance Dental is unlike most legacy carriers because we started in the individual marketplace and are increasing our presence in the small group markets instead of the other way around.
2. Since the ACA came into effect, carriers in the individual marketplace have received many requests from online platforms or private exchanges about offering plans on their website. Given the platforms Renaissance has worked with, what seems to be a common characteristic of the ones that succeed?
Common successful characteristics include a combination of robust technology and the ability to make a purchase as easy as possible for the broker and the consumer. The other key element is bundling medical, dental and vision which not only offers consumers additional benefits, but also increases the broker’s compensation. Instead of medical only, now consumers can conveniently purchase medical, dental and vision at one time.
3. From a plan selection standpoint, what plan designs are most attractive to consumers?
We have seen graduated plans grow in popularity. These plans provide the consumer with coverage on day one with no waiting period. Most individual purchasers are deterred by the 12-month waiting period, thus making graduated plans an attractive option for the consumer.
4. Is the growth in graduated plans driven from broker promotion or just from attractive plan benefits?
While our Max Choice plan has great broker promotions, the attractiveness of the plan benefits wins over the consumer.
5. What advice would you provide to group brokers looking to market individual Renaissance plans to their existing clients?
Capitalize on the one-stop shopping that MWG Broker Services and their Dental for Everyone concept brings to the brokers. The ease of contracting and selling through the MWG Dental Platform and the use of the MWG Broker Portal makes this one of the best options for brokers to get into the ancillary marketplace.
Tom Dimmer, VP of Business Development, Individual Market and Exchanges — Renaissance Dental
Tom’s leadership has been essential to keeping Renaissance Dental at the forefront of direct-to-consumer, private and public exchange markets. His dedication to innovation has resulted in a successful track record of securing partnerships with some of the largest private exchange platforms across the U.S. As one of the most successful sales executives working in the dental benefits industry, in 2008, Tom was a finalist for Best Dental Sales Representative in the United States by Employee Benefit Advisor magazine. Today, Tom oversees Renaissance Dental’s national individual sales division and new business development efforts. As an accomplished sales leader, Tom thrives at building meaningful partnerships in order to market individual dental product solutions.