According to Eastbridge’s 2020 Brokers and Voluntary Benefits—Growth in a Changing Market Spotlight™ Report, a majority of both broker types, 59% of Benefit Brokers and 65% of Voluntary Brokers, rank administration and service as their most important criteria used to select a voluntary carrier. This is closely followed by product features/benefits. In addition, of the brokers that feel administration and service is an important selection criteria, over 90% of Voluntary Brokers and close to 70% of Benefit Brokers named billing accuracy as most important, followed by timely claims payments (61% of Voluntary Brokers and 69% of Benefit Brokers). A few other key findings from the report include:
Brokers and Voluntary Benefits — Growth in a Changing Market, a Spotlight™ Report
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Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.