- What would their voluntary business look like if they changed just one-third of their business plan to better reflect today's employee benefit environment?
- Is their view of voluntary benefits simply following the status quo?
- Are they taking the same approach to voluntary sales as they did many years ago?
Related: Hi, my name is Eric, and I'm a recovering carrier rep
- Ignore the products unless a client asks about them;
- Outsource sales to a single carrier;
- Hire an in-house VP of voluntary or equivalent position;
- Partner with a carrier-agnostic firm.
Long-term strategy enhanced benefits employer strategy
- A mission to shop and analyze the market.
- A goal to discover best-in-breed products and services.
- A search for findings about the competitiveness of the market, including most-favored benefits by employers and employees.
- A proposed solution that includes a strategy complementing the existing health plan design that avoids wasteful employer and/or employee overspending.
- A plan of action for the next steps moving forward.
How to compete Also: Young brokers get to the heart of the issues facing today's industry can
- Will you or your sales reps compete directly with me?
- Who do you represent, yourself or me?
- Are you carrier agnostic?
- Do you use shelf product and product dump?
- Do you create and customize plans and ensure they dovetail with my health benefit strategy?
- Do you provide access to a single point consolidated invoice? Do you charge extra for it?
- Do you handle initial strategy to service and claims?
- Can you handle multi-location and multi-state enrollments?
- Do you have an enrollment arm with vetted, agnostic counselors who are bilingual?
- What kind of enrollment platform do you use? Do you charge extra for it?
- Do you provide access to ben admin and HRIS systems for the broker and the employer?
- Do you have enrollment tools such as auto-schedulers, ringless voicemail, text messaging and videos? Do you charge extra for it?
- Are you fully transparent with every aspect of enhanced benefits?
- Do you have industry-best contracts for compensation and underwriting?
- Do you audit enhanced benefit compensation?
- Do you share compensation, including renewals, from the top down?
- Do you share carrier bonuses and allow brokers to earn their own?
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