Enrollment Methodology and Participation
In earlier times, voluntary was a producer’s market. We offered the products we were comfortable with and enrolled them in the way we preferred. It was all about us, and the market was wide open. We could demand that customers did it our way. We were satisfying our needs.
But the world has been changing. Competition is increasing. Clients are better educated. The market offers more products and more choices. And our consumers are demanding that we pay more attention to their needs.
When it comes to enrollment, that means selecting the methodologies that work best for the client. And that means three things.
First, have the ability to use multiple enrollment methodologies in an account. Brokers need to master a range of methods and to be able to integrate them into a single, seamless system.
Second, be ready to match the method or methods to the account characteristics. Size, location, and composition of the workforce all will impact methodology selection.
Third, be ready to match the method(s) to the products to be enrolled. You wouldn’t enroll a stand-alone dental plan the way you’d enroll long-term care.
Future issues of Outside/Input will explore these concepts in greater detail.