Re-enrollment isn't discussed enough in the voluntary market. It seems only a few brokers have true re-enrollment strategies. Too often, a new case is enrolled and then left untouched unless there's a rate change or other event that mandates a change. That's what we call "love 'em and leave 'em" marketing.

Do you think re-enrollment is primarily for new hires? What about those who didn't buy the first time? Do you ever approach them again? Employees who don't buy at the initial enrollment are not making the decision to never buy — it just may not be the right time. Remember that circumstances change. A 26-year old who chooses not to purchase a product the first time may now have a mortgage and/or an infant child and better understand the need for coverage.

It's important to continually re-market and allow employees additional opportunities to buy coverage. This is especially important in light of the lower participation rates seen in initial enrollments today. As the chart shows, the average participation rates of almost every product line have declined in recent years. If we look at participation by account size, we see a similar decline.