Voluntary benefits: What employers are looking for
Worksite voluntary benefits are gaining in popularity on standard ancillary benefit offerings, but the advisers sales approach to each needs to be varied.
Marketing
Benefits Think Employers expect more from brokers
Commentary: Technology helps, but it does not replace the expertise and experience of a broker. Rather, it helps to elevate what the broker can supply to a level that is equal to consumer demand, says Zywaves Dave OBrien.
Benefits Think How to become indispensable
Commentary: There is no better time to be a broker, says Zywaves Dave OBrien.
Bullseye: How one firms niche focus gives it wide appeal
How San Francisco-based Equity Risk Partners focus on private equity firms had made the small firm a big player in the niche market.
Benefits Think How to run a successful sales internship program
Commentary: Hiring a part-timer in commission insurance sales is never a bad thing, says adviser Eric Silverman, who shares two tips to make the best out of the process.
Eric Silverman
Voluntary Benefits
Benefits Think A simplified way to sell individual disability insurance
Commentary: It is not necessary to have an intricate knowledge of every IDI product provision to help clients get the income protection they need.
How vision and medical plans can work together to improve wellness
Advisers who excel in the vision field do the best job of making the connection between vision and medical plans, some experts say. Shannon Enders, a founding partner at Lakeshore Employee Benefits in Norton Shores, Mich., says when he brings the idea of connecting vision and health data to clients attention, they quickly become very interested.
Benefits Think Why the Aetna/Humana deal signals the need for a fee-based model
Commentary: What should brokers and benefit advisers take away from all the merger and acquisition activity among the medical carriers? The message is crystal clear. Now would be the time to move away from a dependency on medical commissions and take a fee.
How brokers can enter the voluntary market
Selecting the right partners, learning from colleagues and understanding the needs of each client will help agents who are new to this space.
Aetna, Humana merger offers potential positives and negatives for employers
Consolidation in the health insurance industry holds both positives and negatives for employer-sponsored health plans, but employers shouldnt expect to see any major savings resulting from the Aetna-Humana merger until at least 2017, say industry experts.
Why the Aetna, Humana merger is a lesson for brokers
Aetnas purchase of Humana confirms analyst predictions of continued consolidation as carriers vie for market share, a trend industry experts fear will limit choice and force brokers to reinvent their business approach.
8 features a broker should look for in a private exchange
As small employers shift from group to individual coverage, private exchanges can be a useful tool to keep brokers competitive and maximize profits during the transition.
Benefit experts agree more mergers are on the horizon: Whos next?
The merger of Willis and Towers Watson is likely just one of many to come in the next few years, as the Affordable Care Act and other factors continue to change the landscape of the business of health care, industry experts agree.
How independent agencies can increase their value
Standing out from the competition, maintaining healthy prospects and offering essential solutions can help attract prospective buyers.
Benefits Think Willis, Towers Watson merger: Theyre not us
Commentary: Lets stop celebrating the financial merger of two faceless giants, and focus instead on the real work that agents, brokers and consultants are doing every day to make a difference, says adviser David C. Smith.
David C. Smith
Ebenconcepts
Private benefit exchange companies launch coalition
A group of industry players connected to private exchanges launched a coalition Wednesday to serve as a forum to share ideas and best practices, and to increase awareness of private exchanges.
Benefits Think Closing sales means making sense to customers
Commentary: Many salespeople who do everything right underperform. With so much focus on personal qualities and skills, the sales process doesnt get the attention it deserves.
John Graham
GrahamComm
Exchanges give voluntary benefits a boost
No longer hiding on an intranet or mentioned in a one-off meeting, voluntary benefits are making a big impact on private exchanges, especially as high deductible plans increase and employees self-select into lower coverage.
Is Aetna eliminating commissions on small-group business?
Benefit advisers in several states have received new fee arrangements from Aetna that eliminate commissions on small-group business, causing an uproar among brokers, many of whom question the legality of such a practice.
Insurance merger mania catches on
Shares of health insurers from Cigna to Aetna surged on speculation that the industry is heading for a round of mergers to boost profits.