The most common sales and training broker services offered include local assistance closing a case, online commission statements and forms, continuing education, and online product and voluntary sales training found Eastbridge’s Broker and Client Services for Voluntary Carriers Spotlight™ Report. In addition, the top enrollment broker services offered were enrollment communications for employers, test data feeds, custom enrollment materials, and product set-up on outside enrollment platforms. Prescreened enrollers/enrollment companies, an online or laptop enrollment system, carrier-provided enrollers, and personal, prepopulated enrollment forms were offered by over half of the carriers surveyed.
The services provided by over half of carriers on behalf of brokers to their clients were online benefits or HRIS systems, core benefits enrollment and communication, and full benefits administration. Less than half of carriers offered important client services like consolidated billing, benefits statements, Section 125 documents, payroll administration services, FSA or HSA/HRA administration, highlighting opportunity for carriers to partner with third-party vendors already offering these capabilities.
A few carriers provide additional services like onsite support to educate (but not enroll) employees about provided benefits, as well as support for enrollment and benefit administration partners who capture enrollment; in-person broker schools; benchmarking data for sales targeting; Family Medical Leave and ADA Administration; a college tuition benefit and travel assistance.
The Broker and Client Services for Voluntary Carriers report reviews the various broker services offered by voluntary carriers, both directly to brokers as well as those offered to brokers’ employer clients. With this information, carriers can assess the broker and client services they are currently offering and compare them to those of other carriers in the voluntary/worksite market.
Broker and Client Services for Voluntary Carriers, a Spotlight™ Report
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.