Switch Brokers, Not Carriers – A Simple Guide

When To Keep Your Insurance But Ditch Your Broker

This article is part of our ongoing series on demystifying the Agent of Record. If you're unfamiliar with the basics of what an Agent of Record is and why it matters, check out our detailed guide: What is an Agent of Record and Why Does It Matter for Your Business.

What is an Agent of Record?

An Agent of Record (AOR) is a broker designated by you to manage your existing insurance policies. When you sign an AOR letter, you authorize a new broker to take over service and management of your current insurance policy without changing the carrier or coverage. This allows you to enjoy better service and support without disrupting your business’s insurance.

For more information, download the free agent of record guide.

Why Switch Brokers?

There are several reasons to consider switching brokers while keeping your existing policies:

Better Service: If your current broker is unresponsive, switching to a more client-focused broker can ensure your needs are met.
Access to Expertise: A new broker may offer deeper industry knowledge or specialized services that better align with your business needs.
No Service Contracts: At BIS Benefits, we don’t tie clients into long-term contracts, so you can switch if your expectations aren’t met.
Seamless Transition: Your policy remains unchanged, your employees retain their insurance cards, and there’s no disruption in coverage.

Download Our Free Agent of Record Guide Here:

How to Switch Brokers

Switching brokers is easier than you might think. Here are the simple steps to make the switch:

Evaluate Your Current Broker: Are they meeting your needs? If not, consider exploring other options.
Find a New Broker: Look for a broker who aligns with your business needs and offers the expertise you require.
Sign an Agent of Record Letter: This letter authorizes your new broker to manage your current policies without changing your insurance carrier.
Notify Your Current Broker: After signing the AOR letter, your new broker will inform your current broker and your insurance carrier. The transition typically takes effect within 30 days.

The Importance of Trust in Your Broker

Whether on the benefits or commercial side, trust between you and your broker is vital. At BIS Benefits, we ensure transparency in our relationships with clients. You get the freedom to choose who manages your insurance while knowing that you have a team committed to providing the best service.

If you’re considering switching brokers, it’s as simple as signing an AOR letter. No changes to your insurance carrier, no extra costs—just better service.

Benefits of Switching Brokers Without Changing Policies

Switching brokers while keeping your current policies allows you to:

Maintain consistency in your business insurance and employee benefits.
Avoid the hassle of re-enrollment or explaining new policies to employees.
Benefit from new ideas, services, or technology integrations that a new broker may provide.

A Side Note About Managing Benefits Through a Broker Change:

Switching brokers involves more than just choosing a new representative—it also means ensuring that your employee benefits remain properly managed throughout the transition. Services like COBRA Administration are crucial during this time, as they help manage health benefits for employees leaving the company, avoiding compliance issues and ensuring a seamless transition. When changing brokers, it’s important to have a broker that handles all these aspects smoothly, making sure there is no disruption in benefits management.