The
Evolving Voluntary Broker:
A Look at Who is Selling Voluntary
in 2006
Many years
ago, producers who were either agents for a worksite company
or brokers who specialized in worksite made most of the voluntary
sales. In 2000, Eastbridge conducted a study that revealed
a definite evolution among worksite producers. That study identified
five broker segments selling voluntary (in addition to the
career agent). Earlier this year, we conducted another study
to see what has changed and found that many facets are both
the same and different!
There are
still many types of brokers in the voluntary market today,
each type with different needs and expectations. But the segments
themselves have changed from the 2000 results. Our latest study
identified seven different broker segments that sell voluntary
products (at least some of the time). With the addition of
the career agent (which is not included in the study), there
are now eight different producer segments in the worksite market.
The
Evolving Voluntary Broker: A Look at Who is Selling Voluntary
in 2006 gives insight into each of the segments and
the changes since 2000. Based on research conducted in 2006,
the study also looks at the attitudes and opinions of over
500 brokers known to sell at least some voluntary products.
Specifically, this new report will help answer these questions:
- Who
is selling worksite today?
- How is
the producer market segmented today?
- What
products/services are sold by these “new” producer
segments?
- How
much worksite do they sell?
- What
do they expect from carriers?
- What
are their unmet needs?
The answers
to these questions will help carriers fine tune their marketing
strategies and define ways to get a greater share of their
selected producer segments’ business.
Order Info: The
report is available for purchase for just $1,000. To order your
copy, simply email us at info@eastbridge.com or
call (860) 676-9633. Published
2006.
Table
of Contents
1. Introduction
A. Study Objectives and Purpose
B. Methodology
C. Key Findings
D. Observations and Recommendations
2. Aggregate Findings
A. Focus on Worksite Marketing
1.
Voluntary Sales Premium
2. Years of Experience in Voluntary
3. Percent of
Income from Voluntary
4. Number of Voluntary Cases
B. Products
1. Most Frequently Sold Products
2. Growth Products
for Future
3. Product Platform
4. Average Number of Products
per Account
C. Importance Factors
D. Carriers
1. Most Frequently Used Carriers
2. Percent of Business
Given to the #1 Carrier
3. Satisfaction with #1 Carrier
E. Services Provided
by Broker’s Agency
F. Enrollment
1. Enrollment Meetings
2. Enroller Source
3. Enrollment Method
G. Views about Voluntary
H. Profile of the Broker’s
Organization
1. Independent or Part of a Larger Organization
2.
Number of Producers
3. Sub-Brokers
4. Geographic Scope
5. Other Business Lines
3. Segment Findings
A. Introduction
B. Segment Overview
C. Brokers that Focus on Voluntary/Worksite
D. Specialist
Brokers
E. Classic Brokers
F. Large Benefit Brokers
G. Small Benefit Brokers
H. Large Commercial Lines
Brokers
I. Small Commercial Lines Brokers
J. Occasional
Brokers
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