"Your reports are great. They are the best we've seen in the industry."
"We are doing great. It is amazing how quickly things are ramping up—and so much fun! We owe it all to you.”
“I read the New Benefit Brokers and Voluntary Benefits - Who's Winning the Battle? over the weekend - A great piece of research with actionable items in it. Plan to make it a must read for our sales support and marketing teams. (It has) key take-aways that we can use to increase our business! Thank you.”
“I cannot thank you enough for your guidance and expertise in helping us develop our voluntary business strategy.”
The major voluntary/worksite carriers have come to depend on Eastbridge. Of the top twenty-five insurers, twenty-one are both consulting and research clients.
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There has been much interest in voluntary benefits and much speculation about how healthcare reform will change the way brokers approach the benefits market. However, there has been little, if any, reporting on what has actually occurred and if brokers have more fully embraced voluntary or changed their business practices. Earlier this year, Eastbridge Consulting Group and Benefits Selling magazine partnered to find some answers by surveying brokers in the Benefits Selling database.
The numbers are in, and 2012 turned out to be a very good year for voluntary sales. According to our annual U.S. Voluntary/Worksite Sales Report, sales topped $6 billion in 2012, an increase of 6.6 percent over 2011 results. And because several new participants reported both 2011 and 2012 data this year, the 2011 figures have been restated in the report to reflect the additional results.
This report provides a general overview of the voluntary term life market and then examines, in detail, the voluntary term products of 22 carriers active in the market.
What products to you sell when you offer voluntary products?
Bundles might refer to product combinations, some with pricing and/or underwriting concessions. But at a voluntary carrier level, bundles also refer to the attempt to combine products, billing, administration and enrollment into a single (hopefully seamless) package.
Voluntary work site sales grew 4.5% in 2011.
Copyrighted A.M. Best Company, Inc. 2012. All Rights Reserved, Reprinted with Permission
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