The Evolution of the Worksite Broker 2010
Eastbridge’s landmark studies on voluntary producers revealed that carriers need to focus on one or two producer segments among the five segments identified in the studies and then do everything possible to best serve those segments. The study also discovered that each producer segment is unique in regards to the products it sells, the carriers it prefers using, and its needs and expectations.
The most recent study, Evolution of the Worksite Broker, takes an in-depth look at two of these segments—the Classics and Specialists—to see how they have changed over the past several years. Classic and Specialist brokers, by definition, are brokers who focus on, or specialize in, voluntary sales. To qualify for this study, the broker had to have at least 50 percent of sales from voluntary benefits.
The report develops an updated profile of the Classic and Specialist segments by interviewing over 200 qualified brokers. It looks at each segment’s:
- Focus on voluntary (i.e., percent of sales from voluntary, voluntary new business annualized premium)
- Voluntary products sold today and those likely to be sold in the future
- Most frequently used carriers
- Service and communication expectations from carriers
- Use and payment of enrollers
- Current challenges
With this information, carriers can compare their voluntary producer profile to those identified in the study and take the necessary steps to align the two.
Order Info: The report is available for purchase for $2,500. To purchase a copy, you can email Eastbridge at info@eastbridge.com or call (860) 676-9633.
Table
of Contents
1. Executive Summary
A. Study Objectives
B. Methodology
C. Key Findings
D. Eastbridge Conclusions and Recommendations
2. Detailed Findings
A. Focus on Voluntary
B. Voluntary New Business Annualized Premium
C. Voluntary Products
1. Voluntary Products Sold Today
2. Products Likely to Sell in the Future
3. Product Platform
D. Carriers
1. Importance Factors
2. Carrier Areas of Improvement
3. Most Frequently Used Carriers
4. Performance of Top Carriers
5. Number of Carriers Used for Voluntary per Account
6. Services Expected from Carriers
7. Communications with Carriers
E. Enrollment
1. Enroller Source
2. Payment for Enrollers
3. Method of Enrollment
F. Challenges
3. Demographics
A. Length of Time in the Market
B. Number of Producers
C. Number of Other Employees
D. Percentage of Business Through Other Brokers
1. Other Lines Offered
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