Employee Benefit Brokers and Voluntary: The Evolution Continues
Distribution is key to any sales program. But in worksite marketing/voluntary benefits, it’s the lifeblood. And with over 100 carriers vying for the same producers, success doesn’t come that easy. One type of producer that has created quite a lot of interest over the past 5 to 6 years is the Benefit Broker. Based on our annual sales survey, we know that, today, almost half of all voluntary sales are made by Benefit Brokers. And, while almost all Benefit Brokers sell some voluntary, for many it’s just an occasional activity. So what can a carrier do to “win over” these producers and get them to sell more business?
The objective of this new report, Employee Benefit Brokers and Voluntary: TheEvolution Continues, is to update carriers’ picture of the role that worksite marketing and voluntary benefits play for Benefit Brokers and what they need to do to attract these brokers to voluntary benefits.
The report answers the following questions and more:
- How much voluntary do Benefit Brokers sell?
- How often do they sell voluntary?
- Where do voluntary products “fit” in their selling cycle?
- Which voluntary products do they sell today?
- Which products do they expect to sell in the future?
- What carriers do they use most frequently and why?
- What do they need/want from a carrier?
- What do Benefit Brokers feel they need in order to be more successful in selling voluntary?
- What reasons are given by those who do not sell voluntary?
Order Info: Employee Benefit Brokers and Voluntary: The Evolution Continues is available for purchase for just $3,000.
To purchase a copy, you can email Eastbridge at info@eastbridge.com or
call (860) 676-9633. Published
2009.
Table of Contents
3. Executive Summary
A.
Key Study Findings
B.
Eastbridge Observations and Recommendations
C.
Study Background and Objectives
D.
Methodology
2.
Findings for Those Selling Voluntary
A.
Focus on Voluntary
1. Role of Voluntary
2. Voluntary New Business Annualized Premium
3. Voluntary as Percentage of Total Income
4. New Voluntary Cases Written Per Year
5. Case Mix
6. Reasons for Selling Voluntary
B. Employers
1.Employer Interest in Voluntary
2. Moving Benefits to Voluntary
C.
Products
1. Importance Factors
2. Most Frequently Used Carriers
3. Carrier Performance
4. Using the Same Carrier for Core and Voluntary
5. Voluntary Products
6. Most Commonly Sold Voluntary Products
7. Products Likely to Sell in the Future
8. Top Products Sales Opportunities
9. Voluntary Product Features
D.
Enrollment
1. Number of Voluntary Products Enrolled per Account
2. Carrier per Account
3. Enrollment Meetings
4. Enroller Source
5. Employer View of Enrollments
3.
Those Who Don’t Sell Voluntary
A. Reasons for Not Selling
B. Getting Them to Sell Voluntary
C. Intentions to Enter the Market
4. Demographics
A. Number of Producers
B. Geographic Scope
C. Business Lines Offered
D. Target Market Size
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