Large Commercial Lines Brokers and Voluntary Benefits
Large Commercial Lines Agencies are one of several broker segments identified by Eastbridge as producers of voluntary sales. For years, many worksite/voluntary carriers have sought to do business with these agencies due to their large block of business clients and their strong relationships with these clients. Unfortunately, many of these brokers have been reluctant to learn the voluntary. But times are changing! Today, virtually all large commercial lines agencies with benefits divisions sell voluntary — at least some of the time.
Eastbridge’s latest Spotlight Report, Large Commercial Lines Brokers and Voluntary Benefits, looks in more detail at the current state of voluntary with the largest agencies in the business. Using both quantitative research as well a qualitative interviews with key players in over 20 agencies, the report reviews:
- The prevalence of voluntary sales
- The products sold
- The carriers used most frequently
- How these agencies enroll benefits
- The future of voluntary
- What keeps an agency from selling more
- What these agencies need from carriers
- Typical structures of agencies
- Cross selling between the benefits and commercial lines divisions
Where data is available, the report also compares and contrasts the large commercial agency to the “traditional” employee benefits broker. The report concludes with profiles of several large agencies that sell voluntary.
The report is now available for purchase for $1,500. For more information or to order, call today at (860) 676-9633 or email us at info@eastbridge.com. Published 2007.
Table of Contents
1. Executive Summary
A. Introduction
B. Study Objectives
C. Methodology
D. Key Study Findings
E. Eastbridge Observations and Recommendations
2. Quantitative Findings
A. Voluntary Sales
1. Prevalence
2. Role of Voluntary
3. Voluntary Cases
4. Voluntary New Business Annualized Premium
5. Voluntary as Percentage of Total Income
B. Products
1. Preferred Product Platform
2. Top Three Most Frequently Sold Products
C. Carriers
1. Most Frequently Used Voluntary Carriers
D. Enrollment
1. Enrollment Meeting Methods
2. Enrollers Used
E. Future of Voluntary Benefits
1. Role of Voluntary Products in the Future
2. Why an Agency Doesn’t Sell More Voluntary
3. What is Needed to be Successful with Voluntary
3. Qualitative Findings
A. Voluntary Revenues and Sales
B. Voluntary Objectives
C. Strengths/Weaknesses with Voluntary
D. Voluntary Staff
1. Integration with Commercial Lines
E. Voluntary Carriers
F. TPAs
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