Brokers and Voluntary Benefits - Optimism Amidst Change

Cost: $1,500; published 2019

In 2013, Eastbridge conducted their first joint survey with BenefitsPRO. The goal of the survey was to gauge how healthcare reform might have changed the way brokers approach the benefits market. Every year since then, the survey has been updated and new topics added that are relevant to the discussion and reflective of current trends in the voluntary market.

The 2019 Brokers and Voluntary Benefits—Optimism Amidst Change Spotlight™ Report addresses the following topics and compares, where appropriate, this year’s results to past studies:

  • Brokers’ current focus on voluntary (NBAP, new group growth, cross-sales with voluntary)
  • Sales performance relative to expectations and their reasoning
  • Most commonly sold voluntary products by brokers today and recent changes in product mix
  • Voluntary carriers used most frequently by brokers and their reasoning
  • Carrier administrative pain points and frequency of carrier switching
  • Enrollment methodologies and platforms used most often as well as trends in technology funding
  • Number of carriers and products most frequently used/offered per enrollment
  • Competitive pressures felt by brokers
  • Employer and employee enthusiasm for voluntary
  • Trends in offerings to part-time workers, sales impact of current employment levels
  • Current voluntary goals, and expectations for the future

The report also examines what brokers need from carriers to increase their success in the voluntary market.

View Table of Contents

1. Executive Summary

A. Study Background and Objectives

B. Key Findings

C. Eastbridge Observations

D. Methodology

2. Findings

A. Focus on Voluntary

1. Voluntary New Business Annualized Premium

2. New Cases

3. Percentage of Revenues from Voluntary

4. Voluntary Goals

B. Voluntary Products

1. Most Commonly Sold Voluntary Products

2. Prevalence of Selling Non-Traditional Voluntary Products

3. Factors in Choosing a Voluntary Product and Carrier

4. Impact of Sales Contest on Carrier Selection

C. Carriers

1. Most Frequently Used Carriers

2. Number of Voluntary Carriers

3. Prevalence of Recommending Product Bundles

4. Areas of Administration by Carriers Causing Pain

D. Enrollment

1. Number of Products Offered

2. Enrollment Methods

3. Enroller Source

4. Enrollment Technology

E. Competition

F. Emerging Trends

G. The Future

H. Demographics

1. Typical Size of Voluntary Case

2. Size of Agency



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