Brokers and Voluntary Benefits in a COVID-19 World

Cost: $1,500; published 2021

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 2021 Brokers and Voluntary Benefits in a COVID-19 World 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 future sales expectations
  • Most commonly sold voluntary products by brokers today and recent changes in product mix
  • Most frequently sold non-traditional products on a regular basis
  • Voluntary carriers used most frequently by brokers and their reasoning
  • Carrier administrative pain points and frequency of carrier switching
  • Carrier selection criteria
  • Changes in enrollment methodologies due to COVID-19 and resulting impacts to participation
  • Trends in technology funding and future expected changes in enrollment methods
  • Competitive pressures felt by brokers and what they need from carriers to be more successful
  • Trends in off-cycle enrollments and P&C licensing
  • Employer and employee enthusiasm for voluntary
  • Current voluntary goals and expectations for the future

View Table of Contents

1. Executive Summary

A. Study Background and Objectives

B. Key Findings

C. Methodology

2. Findings

A. Focus on Voluntary

1. Percentage of Revenues from Voluntary

2. Impacts to Voluntary Business Over the Past 12 Months

3. Voluntary New Business Annualized Premium

4. New Cases

B. Voluntary Products

1. Most Commonly Sold Voluntary Products

2. Prevalence of Selling Non-Traditional Voluntary Products

3.  Planned Product Changes due to COVID-19

C. Carriers

1. Most Frequently Used Carriers

2. Carrier Selection & Carrier Changes

D. Enrollment

1. Enrollment Changes Due to COVID-19

2. Employer Requests for Off-Season/Off-Cycle Enrollments

3. Technology Funding

E. Competition

F. Emerging Trends

G. The Future

H. Demographics

1. Typical Size of Voluntary Case

2. Size of Agency



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