How to Choose an FMO (Field Marketing Organization)

Choosing an FMO or Field Marketing Organization to partner with can be a difficult decision. Afterall, selecting the best FMO to partner with makes all the difference in the success of your business. FMOs are commonly called IMOs (independent marketing organizations), NMOs (national marketing organizations) and vary through the insurance industry. FMOs, IMOs, and NMOs have one thing in common: they market, sell and distribute insurance products.

Working with an FMO offers many potential benefits for independent agents and agencies, and there are several questions to ask when you’re considering choosing an FMO that’s best for your business model.

What do FMOs offer concerning Sales Support?

When you choose an FMO, it’s essential to understand its sales support structure. Before making a decision, ask these simple questions:

• Does this FMO assign a specific account director?
• Does this FMO have product specialists who will work on my different lines of business?
• Does this FMO provide Compliance reviews & assistance?

Understanding whether the prospective FMO provides dedicated staff with back-office support, multiple product lines, and a compliance department is critical. More specifically, in a Medicare FMO. Compliance is an essential need for your Medicare business, and a Medicare FMO without a Compliance Department could cost you sales allegations and your book of business. Choose an FMO who offers you access to a Compliance Department equipped with the knowledge of Medicare Marketing Guidelines to help protect your book of business and prevent issues with your certifications and ready-to-sell obligations. A great example of the benefits of a Compliance Department is one that provides training and support on any compliance-related reviews, audits, and assistance with marketing materials. When you choose an FMO, this should be a high-level priority if you work in the Medicare markets.

Other things to consider when you are researching to choose an FMO is the amount of marketing support you will receive.

• Does this FMO provide marketing training and strategy support?
• Does this FMO help with direct mail marketing, email marketing, or other digital marketing?
• Does this FMO have discounted lead programs?
• Does this FMO offer retail opportunities or co-op marketing funds?

When you choose an FMO, always ask about the marketing support you will receive. The best FMO will help agents with website reviews, host live training sessions, marketing strategy development, individualized growth plans, and agency-building programs.

Contracting, Commissions, and New Business.

Diving deeper in your search for the best FMO, you should consider the back office support you will receive.

• Does this FMO handle the processing of new business?
• Does this FMO handle the processing of your contracts? If so, does this FMO have an online contracting system?
• Does this FMO handle escalated broker issues? (e.g., commissions, application issues, etc.)
• Does this FMO offer an online quoting tool?
• Does this FMO have an open release policy?
• Does this FMO offer the top commission contracts?

When speaking with individual representatives from the FMO, always gain clarity around anything that you may not understand. When you choose an FMO, you will want to ensure the FMO you are partnering with offers the tools you need to be successful. For more information on how to partner with Agent Pipeline as your Medicare FMO, you can contact us now at 866-562-8318.