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Despite the benefits, we must make sure that we don't make virtual enrollments mean passive enrollments.
A clear and comprehensive communications strategy coupled with good engagement is vital to achieving good results.
Brokers writing business in the small employer market have typically deployed simplified carrier selection and enrollment strategies; however, employers' changing expectations suggest that these go-to practices may become less successful.
Why do employers choose to offer voluntary benefits? Is it to aid in recruitment, drive well-being, or something else altogether?
To meet employers' top need for educating employees on voluntary benefits, understanding the landscape of available tools is critical.
Key audiences in the voluntary benefits space agree that we will see more call center, online and self-service enrollments this year.
When it comes to sales distribution by segment, all segments except the classics and career agents saw increases this year.
Term life was again the top-selling line of business last year, followed by dental, accident, and then short-term disability.
Total voluntary sales for 2019 were $8.832 billion, up 4.5% over 2018 sales.
Brokers are expanding and changing their portfolios of benefits solutions—but that may not be enough to win new clients.