For two decades, industry voluntary sales increased year after year.Growth was largely driven by new brokers entering the business, primarily from the ranksof the traditional medical and group brokers. But these newentrants did not begin growing their sales and increasingproduction each year as one might expect. Instead, they sold a fewcases each year, with results changing only slightly fromyear-to-year.
Many of these brokers were selling defensively, offeringvoluntary products when a client asked about them, or when acompetitor came on the scene. And apparently, the likelihood ofthese things happening was not changing much from year to year.Voluntary productivity increases were low, but the waves of newentrants kept industry sales growing.
The Broker/Voluntary Learning Curve
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
