Advisor strategies

Between new players entering the insurance business and a new generation poised to dominate their sales base, brokers must re-evaluate the way they do business.

Eastbridge Consulting research finds brokers are the dominant distribution channel, but they must use their position wisely to curb dropping participation rates.

Legislators urge brokers to contact Congress to help shape future policies.

Embracing private exchange solutions is, some say, imperative for brokers who want to survive in the industry, yet many remain confused about just how to do so.

More tools are needed to support brokers as they help consumers navigate the complex health care law, Healthcare.gov CEO Kevin Counihan says.

Assurant Health says it will no longer pay commissions on new business in certain markets, a move the carrier calls a sales approach, but some industry experts say is part of a trend that’s pushing agents out of business.

The plan would require brokers to act in a customer’s best interest, a change that could limit the earnings of financial advisers.

Having more choices is a priority, but most workers are confident in their employer’s selection, study finds.

Agentreview.net launches this month, aiming to give consumers one location to find and critique local insurance agents.

Five years down the road, the insurance broker’s role in health insurance may be diminished, largely due to exchanges, consultants say. The role of the broker will change greatly in the process, they say, but in the near term it is a mixed story.

Commentary: Want to grow your business? Then never ask a client for a referral, says columnist Nelson Griswold. Referral marketing is one of the most effective marketing strategies, but it must be done the right way, he adds.

Commentary: Given the shifts in the industry, advisers also need to help plan sponsor clients think about retirement benefit programs from a different perspective, says T. Rowe Price’s Francisco Negron.

Benefit experts and thought leaders will discuss some of the most important and possibly industry-changing trends for the coming year at this year’s Workplace Benefits Renaissance in Atlantic City, Feb. 24-26.

Commentary: The market place has changed and your role must adapt. Columnist Jack Kwicien proves his point through an analogous set of market dynamics.

A new bipartisan bill has been introduced on the House floor to separate broker commissions from a medical loss ratio formula many in the industry say threatens agent compensation.

Consumers cite complex language, lack of time as roadblocks to making a purchase, study finds.

Brokers and agents say the state exchanges did little to engage them during the first enrollment period under the ACA, and many in the industry agree improving the partnership between the exchanges and brokers will be critical to the survival of the state marketplaces.

Not all corporate data breaches are of the spectacular variety that health insurer Anthem recently announced, involving 80 million members. But any company that offers a wellness program needs to take special precautions to ensure employee health information doesn’t fall into the wrong hands.

Broker information was not compromised as part of a cyber-attack on Anthem’s IT system and the carrier says it is working with brokers to assist and inform their clients about the breach.

Commentary: Step up your game or your clients may choose to become your competitors, says the head of Pittsburgh Business Group on Health