00:24 — Introductions

01:12 — Beam Overview

02:43 — Who we are

03:43 — Why brokers are beaming

05:30 — Free Bluetooth enabled brush & rewards program

07:14 — Beam Benefits (NEW Ancillary products)

07:50 — Beam Dental (Customizable, Increased ortho benefit & Expanded Network)

10:13 — Beam Disability powered by Hartford

13:26 — One-stop-shop Ancillary Carrier

14:28 — Never quoted Beam before? Earn up to $100 for a quote

15:56 — Free Resource Center

18:29 — NEW Beam “Buy Up” Brush

20:30 — Last Comments

Jason Powers:

It is time for another carrier product update. Tune in as we talk directly to the carriers about their new plans, any new network options they have, or which plan designs offer the most savings and learn about the tools and resources they offer to help you generate more business. Visit our website to learn about all of the carriers we quote in our carrier product update series.

Hello and welcome back to our carrier product update series. This is our Q four kickoff summit [00:00:30] and I am joined in the studio today by Jack Hendricks of Beam Benefits. Welcome back to the Legacy Studio.

Jack Hendrix:

Hi, this is always my favorite time of year. I’m excited to be here.

Jason Powers:

Yeah, it’s my favorite time of year as

Jack Hendrix:

Well. Hey, I feel like it’s everyone’s favorite time of year, right?

Jason Powers:

And look what you brought new

Jack Hendrix:

Stuff. I brought some new stuff. We’ve got our regular beam brush, which I’m sure I’ll go into a little bit later that all of our members get included in all of their dental policies. Our new Beam Brush Pro that we released earlier this year, everyone was really excited about has [00:01:00] some sonic brushing capabilities that is obviously really good for you. So yeah, got some goodies.

Jason Powers:

That’s awesome, man. Looking forward to getting into that. So for those brokers out there that don’t know anything about Beam living under a rock, haven’t seen what’s going on with Beam, what would you say is Beam’s position in the market as a benefits carrier?

Jack Hendrix:

Yeah, so Beam is really simplifying employee benefits as a whole. So we started actually coincidentally as [00:01:30] a toothbrush company many, many years ago. We’re actually literally a hardware company building toothbrushes, connected smart toothbrushes and trying to work with different carriers along the way. Quickly realized that there was actually a big opportunity in the insurance space as well. So we actually started writing group dental policies. We wanted to have this tech focused approach and this wellness focused approach when it comes to dental insurance. So we started there and then have obviously grown our portfolio over the years. We started as Beam Dental, we’re now known as Beam [00:02:00] benefits obviously. So we’ve got dental, vision, basic life, voluntary life accident, critical illness, hospital indemnity, and then some really good disability products that just got released with a really brand new partnership with The Hartford, which I’m sure we’ll go into later as well.

Jason Powers:

Yeah, love it. All exciting stuff. If you’re not selling Beam, this is certainly an opportunity for you to learn a little bit more about Beam and the products that they offer. We are a contracted general agent for Beam, which means that a hundred percent of the production credit and producer compensation [00:02:30] goes to you, the producer, without affecting rate on the backend for your prospective clients. You got a great presentation. I’ve peaked at it. I’ll let you jump right into it, Jack.

Jack Hendrix:

Yeah, certainly. Like I said, we are simplifying employee benefits as a whole and that’s how we were built and that’s how we’re going to continue building our company. I always like to say we were built by users for users. So not only were we built by people with experience in the insurance industry obviously, but we [00:03:00] were also built by members just like you and I obviously. And so not only have we built awesome internal systems for your brokers to use to manage their groups, add employees, tomate employees, obviously a great lighthouse portal for you and your groups, but we’ve also built some really user-friendly things on the member side. So our app is extremely intuitive. Obviously our perks program keeps members engaged and keeps people wanting to improve their oral health. And all of those systems that have been built [00:03:30] from day one just continue to get better and better and better. So our job is to make your lives easier and the lives of your members a lot better. And I think that that’s the core of everything that we do.

Jason Powers:

Definitely

Jack Hendrix:

Brokers are beaming. We were just talking about it. Big new marketing push brokers are beaming that we’re excited about. Certainly there’s a myriad of reasons that we, why brokers are beaming. Certainly why brokers continuously come back to us, why we see a 20 to 25% win rate among new groups. Really [00:04:00] industry leading win rate at that level. Number one, digital first implementation. Like I said, we are a tech focused company. We like to say we’re a technology company that is really good at insurance, not an insurance company that has some pretty cool technology. So our digital first implementation process means that you’re no longer waiting weeks, sometimes even months to get a group implemented. A lot of times we’re actually implementing these groups same day or next day even in Q four craziness. So obviously there’s a lot of tech products and [00:04:30] systems that you can use, but we also have those internally as well.

And being a digital first company that allows us to be a lot more efficient when it comes to obviously implementing new groups and even pulling quotes as well. You’ll have real-time collaboration. We were just talking by using legacy brokers, you’re actually getting access to our new preferred broker status. So you’re going to have really fast service turnaround times that Jason and the team here is going to be able to access. But obviously I’m around as well [00:05:00] sometimes. Sometimes you’re here, sometimes I’m here, sometimes I’m not. I’m known for sending o’clock 11:00 PM emails on a Friday or Saturday. I’m bored. I open every one of ’em. Oh, of course you would, right? And we will always carry those conversations. I’m sure you’re always happy to hear from me later. Absolutely. Yeah, of course. Obviously our one of a kind wellness incentive as well, and that’s really where I’m going to talk about beam perks.

So for all of our dental members, for any member that is enrolled in one of our dental policies and their dependents as [00:05:30] well over the age of four can elect a free Bluetooth enabled electric toothbrush. And so it’s a really awesome brush, really good hardware there. But what’s really awesome about it is they can actually connect that brush to their member app and not only will that help save the group money at renewal on their premium, so we give them a brush score and they can save money on their renewal. They’ll never be penalized if they’re not using the brush. It’ll only help them save money. Members at an individual level can actually earn points over time and redeem them for [00:06:00] things like Amazon gift cards, Starbucks gift cards, new brush heads, toothpaste, whatever they want. The program’s actually built to, if you brush twice a day for two minutes, you’ll have enough points to get new brush heads whenever you’re due for them. So really again, taking that member focused approach and making sure everything is done for them,

Jason Powers:

And it’s unique in this space. We don’t have dental companies offering an insurance product that has some sort of incentive program or a wellness program [00:06:30] attached to it. And I think what’s important to know on the group side, we take those brush scores, they apply on the renewal to help keep renewal rate down. It doesn’t penalize the group that does help them achieve maybe a better renewal or

Jack Hendrix:

All. Think about it very similarly to that progressive snapshot tool that you can plug into your car. Except we’re not going to punish you for driving 90 miles an hour down the highway

Jason Powers:

Or forgetting to

Jack Hendrix:

Log

Jason Powers:

Into the app to brush

Jack Hendrix:

[00:07:00] Well. Right.

Jason Powers:

Love it. So what’s new? This is our update. So that’s a good overall summary of what you guys do. We’ve got some new stuff, new exciting stuff.

Jack Hendrix:

Definitely. I think the last time I was here, we had just done our initial release of our new ancillary products. So we had been in the dental vision and life space, but since then we’ve actually released new products like Voluntary Life now down to three unrelated lives, critical illness, down to three unrelated lives, accident policy, hospital indemnity, down to [00:07:30] three unrelated lives. So when you’re talking about Beam, we used to be that really awesome carrier that can provide an incredible dental and vision package. Now we’re an incredible ancillary carrier that can provide every product that you need to create an incredible group package. Not only do we have these awesome products, but like I mentioned earlier, I’ll go into our partnership with The Hartford. Certainly we are still a dental focused company that’s going to be our core product. We never want to veer away from [00:08:00] who we are at our core. We can customize anything that you want for a dental policy, and these are some of the planned features that come standard with everything that we offer. So obviously 90th U C R, no waiting periods, no downgrades on composites, no missing tooth claws, we’ll cover implants, all of the good stuff that frankly should be included in a dental plan. We’re going to include those in our basic plans

Jason Powers:

And they’re competitive products. When we line these up against other dental programs in the industry, not only are we competitive [00:08:30] on price, but we’re competitive on benefit. And that is the difference maker for a lot of brokers that are out there trying to show eliminate that stagnation in the market. We’re fighting inertia of getting a group to move. Some of these programs get really difficult to get off of one particular network to another. So Beam does a really good job of providing that differentiator just through the value of the benefit package itself.

Jack Hendrix:

It’s always awesome to get that call from the broker who just sold their first Beam case [00:09:00] and they go, Jack, I just got an email or a phone call from the group admin raving about the new policy, talking about how cool the brush is and how much the members are enjoying it. So it’s obviously been resonating in the market and products have been placed. Well.

Jason Powers:

Yeah, we got some other new stuff going.

Jack Hendrix:

Yeah, definitely. So we’ve increased our ortho benefit up to $5,000. Yeah, it’s been pretty rich benefit. We can go pretty high on the ortho benefit, and again, that’s down to two unrelated lives. So we don’t have a 10 life minimum for orthodontia. You can send [00:09:30] us a two life group that wants $5,000 and we’ll put it on the plan.

Jason Powers:

Wow.

Jack Hendrix:

Two life. So yeah, right there, two life, $5,000 orthodontia plan. If they’re looking for it, beam’s going to be one of the only, if not the only carrier that can,

Jason Powers:

I think that’s my inbox coming in. Yeah, there you go.

Jack Hendrix:

I’ve

Jason Powers:

Got RFPs coming in, RFPs coming

Jack Hendrix:

In. Yep. So really awesome. With the increased ortho benefits there, we’ve further expanded our network as well. So we now have over half a million access points with the addition of maret. So the way our network works, we lease all of our networks and we bundle [00:10:00] them on top of each other. It’s not like the group is choosing one or another. So you’re going to see the biggest networks like Dent, ax, D B P, mast, obviously now Carrington, bunch of different networks layered on top of each other to create one of the largest in the country

Jason Powers:

And a new collaboration with Hartford.

Jack Hendrix:

We’re about to talk about it. Big deal. So we did have disability insurance for a very long time. Frankly, it was a very base level plan. It wasn’t really going to get awesome coverage, but now with our new partnership with The Hartford, we’re going to have two extraordinarily [00:10:30] rich benefit plans that are going to fit pretty much any group size.

Jason Powers:

Can’t wait. No.

Jack Hendrix:

So here it is. Here it is, right. This is a big deal for us. We were really excited as a company to sign this new partnership. Hartford’s actually also going to be selling Beam Dental insurance as well. So when it comes from a brand standpoint and making sure that certainly we’re a newer company, making sure that some of the biggest names in the industry are trusting us for their products as well is a big deal. [00:11:00] So it’s an awesome partnership. Not only are we going to be able to sell the disability, but Hartford’s also selling beam dental and vision products, which is awesome for the company as a whole.

Jason Powers:

Yeah, yeah, that’s great.

Jack Hendrix:

But yeah, we will go through a quick rundown here. So right now the products are live in California, Colorado, Illinois, Ohio, and Texas. Early next year is when you’re going to see those products get released in our area. You’ll probably see, hopefully like a February or March release for those products is what we’re aiming for. But you’re going to see your standard $2,500 s T D and [00:11:30] 10 K L T D products now can be written through The Hartford with us. These are going to be all of the benefits that you’re seeing from Hartford. You’re going to be able to be seeing from us as well. We can go to employer paid down to two unrelated, and we can actually do a voluntary disability product down to three unrelated lives. So we can go below that 10 mark, which is oftentimes seen in the market. Beam’s actually going to be able to write that disability plan down to three unrelated.

Jason Powers:

I can see where that value is going to apply on some of these small groups. We have a lot [00:12:00] of groups that don’t qualify for those products because they are so small, but they’ve got to go in a different direction where they might not have the same value or quality of service on the products that they end up in. So being able to offer the Hartford offer those disability programs down to a smaller group where you’ve only got three people,

Jack Hendrix:

And keep in mind too, it’s all still going to be managed through Beam. So I don’t want you to think all on the lighthouse. All in the Lighthouse portal, you’re only going to see one interaction with Beam. [00:12:30] It’s all still going to be on one bill. So all of your Hartford disability, beam vision, all of that’s all going to be on one bill still. It really is just the underwriter behind it. So you’re going to have the extraordinarily advanced and member friendly experience from Beam along with the incredible, incredible, incredibly strong. I don’t know what I’m saying at this. You said it’s been a long week. It’s a long week for me too. Incredibly strong products from Hartford as well.

Jason Powers:

Love it, love it. That’s a great partnership. Yeah,

Jack Hendrix:

It’s going to be cool. And like I said, yeah, [00:13:00] these are the five states we’re live in right now and then hopefully moving into Kansas, Missouri area early next year. And then again, I do want to reiterate, we are still live with Dental Vision and all of the other ancillary products in our states

Jason Powers:

Right now. We’ve got brokers in all of those states. So Colorado, Illinois, Ohio, and Texas. Not California at this point, but all those other states. Yeah, we’ve got brokers tuned in from all around, so that’s great. Back

Jack Hendrix:

To, yeah, I just kind of wanted to round it out a little bit here. I want to reiterate, [00:13:30] we are now your full stack ancillary carrier. Full stack’s more of a tech term, but again, we’d like to say we’re a technology company that’s good than insurance. So we are your full stack ancillary carrier. Aside from medical, if a group is looking for a one one-stop shop for bundling all of their ancillary together, we are going to be the best option for that group. In terms of member experience, in terms of your experience offloading a lot of headaches that you might be dealing with elsewhere. Beam is [00:14:00] an opportunity to really make your life and your job a lot easier and have that incredible group interaction and group experience that’s going to keep them not only just coming back to Beam obviously, but coming back to you as a broker, showing them something new, showing them something innovative is really setting you apart as a broker. And I think it’s something that groups are really, really going to value.

Jason Powers:

And look, that’s a lot of exciting stuff going on with Beam. I think it’s really important for brokers to know if they’ve never looked at Beam, now is [00:14:30] the time to show Beam to your prospects and your clients. And in fact, if you’ve never quoted Beam, we’ve got an incentive program going right now. If you send us an R F P to quote Beam on any of these products, beam will give you a $50 Amazon gift card. You got it. And legacy’s doubling down on this. So if you also let us take a look at the medical, we’ll give you another $50 Amazon gift card. So a hundred bucks just to take a look at a case. [00:15:00] Pretty substantial.

Jack Hendrix:

There’s no risk in it. Just send us the R F P. We just want a shot. Right? I mentioned it earlier. We have an incredibly strong win rate among RFPs that come in. I always tell brokers, send me five RFPs, chances are at least one of ’em is going to get moved over and then after you win that first one, I’ve got a feeling a few more are going to come along

Jason Powers:

With it. Well it’s funny you say that. I mean we were both copied on an email earlier this week from one of our agents who had put Beam in place, got really good feedback [00:15:30] from their client, turned around and wanted to present Beam on another client earlier this week because of that experience for their first client. So there certainly is some replication and duplication of taking these products out and really filling a void in your book of business.

Jack Hendrix:

Definitely. Definitely. And we’re excited to do it.

Jason Powers:

And then there’s other resources. Once you get on board with Beam, there’s other things that you have access to that make it a lot easier to sell

Jack Hendrix:

It. Yep. You’ll have your broker resource center [00:16:00] here, which will give you any one pager in the world that you want that’ll really help you, enable you to sell the product a lot better. We’re also available, I can send you Beam brushes to take out to presentations with your clients. I know brokers really like to bring those to open enrollment meetings to boost enrollment. I’m always happy to jump on an open enrollment call as well. Do you want me to speak to the product directly? I enjoy doing it. I’m in our office every single day in Columbus, Ohio. Happy to hop in a conference room. Maybe we’ll pull fro in. [00:16:30] We’ll get him on the call as well. Yeah, if Jason ever returns this call, oh

Jason Powers:

My goodness.

Jack Hendrix:

Little story fro is our c e o not to call you out on live here, fros, our CEO e. You’re

Jason Powers:

Just going to help explain much as this later

Jack Hendrix:

Course call back. Fros our ceo, his name’s Alex fro Meyer, even his family calls him fro. It’s really funny, but Legacy obviously one of our strongest partners. Incredible relationship with Jason and the team here. So I was like, Hey fro, I need you to call Jason. Thank him for the business and everything. It’s been a cool [00:17:00] relationship and Wass like yeah, absolutely picks up the phone,

Jason Powers:

Calls me from his personal cell phone. I think he’s at a family picnic on a Saturday. The last thing I want to do is call and bug the c e O of Beam to say, Hey, thanks for the call. Well

Jack Hendrix:

Hey, he was happy to do it. Jason missed the phone call, but FRO was still excited to reach out and say

Jason Powers:

Thanks. I saved the voicemail though. Good. I saved the voicemail. Good.

Jack Hendrix:

We’ll get a signed Beam Brush Pro or something and send it out.

Jason Powers:

Remember that one time when fro left me this voicemail [00:17:30] so fro I owe you a call. Yes. So real quickly, the Broker bonus program, we didn’t really touch on that. What’s

Jack Hendrix:

Going on? Yeah, so the Broker Bonus program is a really awesome program that we have internally at Beam. That link will take you out to the program specifically. We actually have programs, downline agents will qualify for that program and we also have some different general agency programs as well. But yeah, check out the bonus program. It’s a really rich program. As you start to move more business over to Beam, you can start [00:18:00] to really capitalize on your commissions and on group size as well. Happy to walk through, walk it through with anybody individually and talk about how you can make some more money

Jason Powers:

And we’ll have links below this video on our website to marketing materials, some of those one-page flyers that Jack was talking about as well as this broker bonus program. We’ll have all that down below so that you have easy access to it.

Jack Hendrix:

That’s all what we’re all about. Easy

Jason Powers:

Peasy. And then the new brush, right? The new brush, yes. Walk [00:18:30] me through that again. So it’s not the free brush. Correct. This is available based on rewards in the Beam

Jack Hendrix:

Perks. Exactly. Yeah. So this is available in the Beam app. So obviously all of our members have an incredible user-friendly app. Within the Beam app is the Beam Shop, and so that’s where you’re going to be redeeming your points for the brush heads, gift cards and what have you. And so the Beam Brush Pro is available in the app as well. Personally, I’m a user of it. I use it every morning and every evening [00:19:00] it’s got a really nice two minute timer on it, so basically brush your teeth until it turns off. So does the regular brush as well. Parents really like it because they just say, Hey kid, brush your teeth until Exactly. Exactly. They can track it on the app, right. So yeah, bean Brush Pro was an awesome innovation for us. Like I said, we were originally a hardware company at our core, or I shouldn’t say at our core, but at the beginning. And so I think it was fun for our co-founders to come out with a new product that was more hardware focused. Their families are part of the dental industry and [00:19:30] they’re dental dorks just like I am. And so yeah, it’s a really cool new product that we all use. We all love and certainly some members who have purchased them love them as well.

Jason Powers:

And the difference, this one’s rechargeable. This one takes a

Jack Hendrix:

Battery. Exactly, yeah, you’re just looking at a battery powered one with the standard brush. Our rechargeable one has some really awesome, I don’t know if you can hear it in the microphone. Yeah, I’m sure that’ll show you the power of the Beam Brush Pro. But yeah, we just have a little bit more of an advanced build on the Beam Brush Pro and it’s certainly rechargeable and then [00:20:00] the regular beam brush,

Jason Powers:

But uses the same Bluetooth two. Technology

Jack Hendrix:

Absolutely connects to the app. App. Same connection actually. The Bean Brush Pro is a wifi connection, so that’s above the pay

Jason Powers:

Grade. That’s techy stuff.

Jack Hendrix:

It connect to your phone one way or the other. So yeah, they’ll both connect to your phone, connect to the app, and in track brushing the same way.

Jason Powers:

Love it, love it. A lot of great stuff. A lot of good stuff to take out to market. Be sure that you’re showing beam to your prospects and clients. This Q four Jack, thank you so much for coming [00:20:30] in of it’s always a blast blast. I really appreciate you coming all the way out here for our presentation. Any last comments here before agents head out? I

Jack Hendrix:

Would say number one, definitely take advantage of that referral program. That’s a really awesome program to get agents even in your office acquainted with Beam. Even if you have quoted Beam yourself and maybe your coworker or your colleague has not, they will still qualify for the referral program. So if not everybody in your office has seen a Beam quote, still an opportunity to [00:21:00] do so and just keep sending those quotes. I really enjoy diving into Ben Sums. I really enjoy dissecting plans, seeing where we can get richer, seeing where maybe there’s an opportunity to provide a dual option or a different type of plan design. I would say only quote Beam, but that’s a joke. I don’t do that now. Certainly put us to the test, actually quote us against everything else and we’re pretty confident that as we stack up against other carriers, that we’re going to come out on top many, many times

Jason Powers:

With the breadth and depth of your portfolio. Now, again, I mean we’ve said it last year, we said we’ll say it [00:21:30] again this year, especially with the Hartford connection coming to most of the area next year, you really do have

Jack Hendrix:

The ability and if you’re looking just for that digital experience, all of those other products can be quoted individually of themselves. So it’s not like you have to get a dental product to put in an accident or a critical illness product as well. All of those products are quoted individually of each other

Jason Powers:

And everything’s in Lighthouse, which is just perfect.

Jack Hendrix:

Everything’s managed in Lighthouse, which is going to make not only the team here’s lives easier, but your and your group admin, your HR admin’s [00:22:00] lives easier as well because they’re going to have the same access that you will and they can manage their groups through the portal.

Jason Powers:

Again, we’re a general agency for Beam, so we don’t cost you or your client anything additional to the premium that you’ve already been quoted. A hundred percent of the production production credit and the producer comp is paid out to you as the producer. So be sure to give Beam a look on all of those product lines. If we can help you with any of your Q four quoting, give us a call. Send us an R F P down below below this video on our website. It’ll be a link to [00:22:30] get a quote and check it out and present it to your clients.

Jack Hendrix:

Absolutely.

Jason Powers:

Yeah. All right. Well thanks so much for tuning in. Happy Q four. Happy selling. Until next time, we’ll see

Jack Hendrix:

You. Thanks guys.

Jason Powers:

Thank you for watching this edition of our carrier product update series. Visit our website to watch other episodes.