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What Agents Need to Know About Partnering with FrankCrum

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  • Partnering with FrankCrum
  • Frequently Asked Questions About Partnering with FrankCrum
  • The Benefits of Working with a PEO that has its Own Workers’ Comp Insurance Carrier
  • 5 Ways Selling PEO Services to Your Clients Helps You Acquire and Retain Customers
  • How FrankCrum Makes Your Life Easier
  • 5 Reasons to Add FrankCrum to Your Portfolio

Partnering with FrankCrum

FrankCrum partners with agents to provide their clients with workers’ compensation insurance and pay-go GL as well as services such as payroll administration, HR consulting, risk management, and employee benefits.

PartneringFrankCrum has been in business for almost four decades, and there’s a good reason for our longevity –

We develop long-term partnerships with agents built on trust.

So, what might you expect out of a partnership with FrankCrum?

  • To make more money. We pay higher-than-market commissions that are residual and don’t decline upon renewal. Plus, we’ll connect you with additional untapped revenue streams.
  • To expand your market potential. Our affiliated AM Best-rated insurance carrier, Frank Winston Crum Insurance, has a broad underwriting appetite, competitive pricing, and a pay-as-you-go program to avoid large down payments and annual workers’ comp audits.
  • To save time. Stop chasing paperwork and payments, and dealing with the fallout from lapsed coverage. We’ll take care of that. And with online tools for rating and communicating with underwriting, we’ll provide your quotes FAST.
  • To increase customer retention. If you bring your business to FrankCrum, YOU retain control of the relationship. Period. We don’t recognize an agent of record (AOR), so commissions never transfer. And, by selling our bundled services, you create greater “stickiness” with your clients.
  • To work with a stable, trustworthy company. Because of our insurance carrier status, we operate under stricter regulations than our competitors, demonstrating a superior level of financial stability and integrity.

Frequently Asked Questions About Partnering with FrankCrum

Due to the growing popularity of outsourcing models, the size of the professional employer organization (PEO) industry is $156B and climbing.

shape-2But, not every agent has a PEO in their portfolio.

Not only are these agents leaving money on the table and missing out on a competitive advantage, but they’re also vulnerable to attrition if their client decides to work directly with a PEO.

Here are a few questions we regularly receive from agents as they consider partnering with FrankCrum:

What makes the PEO commission structure better than that of insurance?

Selling PEO services allows you to tap into new and diverse revenue streams. Instead of commissions on insurance premiums, your earnings are based on total payroll – a higher base figure. At FrankCrum, you’ll also have an opportunity to make money from the sale of employee benefits and even staffing placements. We pay higher-than-market commissions with residuals that don’t decline upon renewal. Put simply – our model offers better compensation than most insurance companies do.

I’ve heard stories about unreliable or disreputable PEOs. What makes FrankCrum different?

FrankCrum is held to a higher standard because we own our affiliated AM Best-rated, nationally licensed, and admitted workers’ comp insurance carrier: Frank Winston Crum Insurance. Unlike other PEOs, we are regulated by the Department of Insurance, which requires audits and strict financial stability. We’ve been in business for nearly four decades, proving ourselves as a trustworthy partner.

What’s unique about the FrankCrum Partner Program?

Some PEOs haven’t adopted an agent-oriented sales model. And those that do may not be very good at it. But here at FrankCrum, we’ve welcomed agents into partnerships based on respect and trust for decades.

If you bring your business to us, YOU retain the relationship. Period. We don’t recognize an agent of record (AOR), so commissions never transfer. And, we don’t enforce volume commitments, so there is no risk to join. We partner with agencies to help them compete for clients who want the value-added services that a top-notch PEO provides.

Would you remind me exactly what a PEO is?

Sure. A PEO provides workers' compensation and employment practice liability insurance (EPLI) bundled with comprehensive HR solutions such as payroll, benefits, HR, tax administration, regulatory compliance, risk management, and others. PEOs relieve businesses of administrative burdens and save them money too.

The Benefits of Working with a PEO that has its Own Workers’ Comp Insurance Carrier

FrankCrum is proud to have its own affiliated AM Best-rated, nationally licensed, and admitted workers’ comp insurance carrier: Frank Winston Crum Insurance.

shape-3Because of this, we are regulated by a body that agents trust – the Department of Insurance – which has strict regulations, requiring us to demonstrate our financial stability and integrity as an organization.

Perhaps you’ve lost business because your client’s circumstances challenged your ability to find a carrier or an affordable rate. We can help with that!

Frank Winston Crum’s broad underwriting appetite includes:
  • Startup companies and those with less than three years loss history
  • Companies with gaps in coverage
  • Small companies with as few as one employee
  • Over 350 classes in a wide range of industries
  • Together with Zurich, provides coverage in 48 states (excludes AK & HI)
Plus, your clients will enjoy perks like:
  • Competitive pricing 
  • A pay-as-you-go program to avoid large down payments and annual workers’ comp audit 
  • Comprehensive risk management program to decrease the likelihood of claims
  • Friendly, responsive service for clients and their employees

Want to learn more about Frank Winston Crum Insurance? Read Overview

5 Ways Selling PEO Services to Your Clients Helps You Acquire and Retain Customers

New customer acquisitions are essential, but how does customer retention impact your bottom line? Here are a few insights from Invesp Consulting's research study.

  • shape-4Acquiring a new customer is five times as expensive as retaining an existing customer.
  • Growing customer retention rates by 5% will increase profits by 25-95%.
  • When it comes to revenue, customer retention is hugely important to consistent growth and financial planning.

If you believe that prolonging the lifetime of a customer makes them more valuable, then you’ll be happy to know that selling PEO services to your clients will make them “stickier” because:

  1. Switching is tough. Instead of providing a single service, PEOs offer a bundle that includes payroll, HR consulting, workers' compensation insurance, and more, making it harder to switch providers.
  2. Satisfied customers stay put. 98% of PEO clients say they would recommend a PEO. According to NAPEO research, they grow faster, have less employee turnover, and are less likely to go out of business than the overall business market. Plus, they have access to Fortune 500 Employee Benefits at affordable rates.
  3. You provide the breadth of services. PEO services are gaining in popularity, and if you don’t provide them, you run the risk of losing clients to direct sales. Several national companies only sell direct-to-businesses, cutting out agents entirely.
  4. You become more than their agent. You become a trusted advisor as you help your clients solve their business challenges. The comprehensive suite of FrankCrum services can answer many of the dilemmas your customers now face. We’ll make you look good!
  5. You retain control of your client relationships. If you bring your business to us, YOU retain control of the relationship. We don’t recognize an agent of record (AOR), so commissions never transfer. At FrankCrum, we know how to work with agents.

Want to learn more about how PEOs benefit business owners? Read this short blog.

How FrankCrum Makes Your Life Easier

shape-5In a competitive business like this, minutes matter!

At FrankCrum, we are always looking for ways to make your work-life easier.

Quit Chasing Paperwork.

How much time do you waste chasing paperwork and payments, and then dealing with the fallout from lapsed coverage? This may be one of the most grueling aspects of your job.

When you work with FrankCrum, we handle all the heavy-lifting associated with paperwork and certifications, plus our contracts auto-renew each year.

Are you ready to quit the runaround and start selling?

Gain a Competitive Edge.

While others are waiting around for quotes from wholesalers and carriers, FrankCrum agent partners are leveraging our online rating tool and PEO management system, Quote & Connect, to generate quotes FAST.

This tool is a real game-changer.

  • Get auto-approved quotes for 350 codes, including construction, within five minutes 
  • Actively connect with underwriting and receive auto-alerts on RFP and quote statuses 
  • Calculate loss ratios in real-time
  • Upload Acord 130 without extra data entry 
  • Manage your FrankCrum book of business from this powerful tool

We offer unbeatable workers’ compensation rates through Frank Winston Crum Insurance, our very own workers’ compensation carrier, as well as Zurich North America Insurance, one of the largest insurance companies in the world. Our program has no down payments and no audits.

Want to learn more about Quote & Connect? Watch Video

5 Reasons to Add FrankCrum to Your Portfolio

shape-6Top 5 Reasons to add FrankCrum to your portfolio:

  1. To make more money. 
  2. To expand your market potential.
  3. To save time. 
  4. To increase customer retention. 
  5. To work with a stable, trustworthy company.

Are you ready to get started?

Joining the FrankCrum Partner Program is easy!

Our contract is simple, and we don’t require volume commitments.

Our supportive staff and dedicated account management team are here to support you with training, sales and closing business.

Stop leaving money on the table and missing out on a competitive advantage.

Watch video to learn more about FrankCrum’s Partner Program.