Identity Fraud in Focus quarterly report
8 min
You know the risks your employer clients face. You know the type of benefits they want to offer their employees. And you probably know the exact plan that will suit their needs best. All that’s left to do is get the client to agree.
Sometimes that’s easier said than done. But don’t panic, we’re here to help — with four tips for selling identity protection.
1. Identify and address the employer’s biggest pain points
If you’re working with an existing client, you probably know the company’s biggest pain points. If not, it’s time to do some research and determine what challenges it struggles with most. After all, identity protection does a lot more than protect employees from fraud.
For example, identity protection is a great benefit if your client is having trouble attracting and retaining top talent. Just ask the nearly 68 percent of HR executives who are evaluating the benefit as a means to compete in hiring top talent.
It’s almost always easier dealing with your existing clients, but what about a prospect? If you’re unsure of their pain points, a good place to start a dialogue might be the increasing liability companies face when employee data is stolen. As much as 50 percent of identity theft originates at a victim’s workplace, and this places organizations at a tremendous level of risk. Consider using these statistics as a way to open the door when pursuing a prospect.
2. Consider the concerns of HR
The last thing HR and benefits managers want is a new benefit with a lengthy or complicated implementation process, so when they’re taking on a new benefit, they need to know that launching it won’t become a chore. If it’s not a consistent or reliable process, you’ll in turn need to deal with the headache.
Go in ready to show them statistics on new client onboarding satisfaction and what the process is like. Do they have a dedicated implementation director to oversee the entire implementation process? Can they adjust the speed of implementation depending on the situation and client preferences? How many enrollment platforms have they integrated with? These are great questions that will underscore market experience and ability to deliver on agreed outcomes. Come ready to answer these questions before they ask you.
Further, HR managers are responsible for minimizing any risk associated with offering a new benefit, so you can imagine their concern. Luckily, you can help them overcome this risk aversion by offering identity protection, an affordable benefit proven to provide high client retention and customer satisfaction. Additionally, multiple payment models — employer-paid, voluntary, and hybrid — provide further protection for HR.
3. Arm yourself with the most up-to-date statistics
It always comes down to the numbers, and identity theft has some particularly jarring statistics. Did you know that 80 percent of the U.S. workforce had their information exposed during last year’s Equifax breach? How about the fact that identity theft costs U.S. businesses more than $16 billion a year? And consider the following:
Identity theft has ranked in the top three FTC consumer complaints for 17 years straight
40 percent of Americans have either been the victim of identity theft or know someone who has
Americans now rate criminal hacking as the number one threat to their health, safety, and prosperity
And that’s just the tip of the statistical iceberg. If you’d like to take a deep dive into the world of identity theft, you can download our complimentary SlideShare, By the Numbers: How Identity Theft Impacts Your Employees, Your Business, and the World.
4. Use our one-page guide to selling identity protection
Finally, you may find it beneficial to use our handy guide, Selling Identity Protection as a Benefit. It’s loaded with great information you can use to get clients on board, and the best part is we put it all on one page!
You can get started by clicking the button below.