A new white paper, "Filling the Revenue Gap: How Brokers Can Use Voluntary Benefits to Build Business" by Colonial Life & Accident Insurance Company outlines things brokers are doing to steady their income.
"Traditionally, major medical and employer-funded benefits have been the bread and butter of many brokers," says Jay Hutchins, Colonial Life's vice president of broker marketing. "But rapid industry changes are causing more brokers to incorporate voluntary benefits into their business model. It's a matter not only of survival but also meeting their customers' changing needs."
Employers are also using voluntary benefits to their advantage. With cuts to health benefits plans, employers are looking for ways to add value to employees. And one way to do that is by offering more voluntary benefits.
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