Broker Opinions of Voluntary Carriers

Cost: $1,500; published 2013

The relationship between brokers and voluntary carriers continues to change and develop. Voluntary carriers rely on the broker community more than ever to sell and enroll their products and as changes continue to occur in the core benefit market, brokers will look to voluntary carriers to help expand their income streams and opportunities with voluntary benefits. With the increased number of carriers entering the voluntary market, however, brokers have a greater choice of which ones to use than in the past, thus placing more pressure on carriers to deliver best-of-breed products coupled with quality services and processes.

The purpose of the Broker Opinions of Voluntary Carriers report is to uncover what brokers really need and want from carriers and what is valued and important to brokers in building relationships and, ultimately, loyalty with carriers. It also looks at which carriers brokers consider as successful in the voluntary market and those lagging behind the industry—and why.


View Table of Contents

1. Executive Summary

A. Study Objectives

B. Methodology

C. Key Findings

2. Study Findings

A. Primary Voluntary Carriers

1. Broker Approach to Voluntary and Primary Carrier

2. Voluntary Sales and Primary Carrier

B. Choosing a Primary Voluntary Carrier

C.  Primary Carrier Strengths

D   Primary Carrier Weaknesses

E.  Frequency of Switching Carriers

F.  Keeping Broker Loyalty

G.  Triggers to Switch Carriers

H.  Carriers Leading the Industry

I.   Carriers Lagging the Industry

J.   Number of Carriers Used

K.   Voluntary Product Wish List

L.   What Brokers Wish Carriers Knew

M.  Recommendations for Voluntary Carriers

N.   Respondent Demographics

1. Voluntary Expertise and Geographic Scope

2. Number of Producers

3. Other Lines of Business Sold Regularly

4. Target Market Size

5. Voluntary Sales

6. Approach to Voluntary

 


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