Practice management

As employees take on more responsibility for paying for health care, voluntary benefits can provide much-needed additional coverage. EBN spoke to a number of voluntary benefits providers to get their thoughts on the major trends they see coming in 2012. Not surprisingly, all the trends and influences in the HR world at large - health care reform, employer cost-shifting, technology and communications - affect the voluntary benefits industry as well. Here, we provide a summary of key trends, along with charts and data to help employers plan their voluntary benefits strategy going forward.

As we enter a new year, it's a great time to reflect upon what we can do differently to improve results and to make adjustments in operations to respond to the changes in a very dynamic and recently tumultuous marketplace. Clearly that job is considerably easier if you have a written business plan for your business. Since we know that the majority of you do not have written business plans, perhaps now is a great time to consider the creation of a written document for your business.

What will the successful post-reform 21st century agency look like? EBA contributor Nelson Griswold predicts what will set you apart from the herd.

In last month's column I introduced you to the concept of expert positioning. This is when you utilize tools such as article writing, public speaking and video marketing to establish your credentials as the expert in your industry.

The focus of discussions in the defined contribution/401(k) world seems to have shifted overnight from process to outcomes.

The failure of businesses, including brokerages and advisory firms, to plan for succession is an often known - but little talked about in public - topic that research shows can have a drastic effect on a company, especially in the current economy.

My father has owned his own company for as long as I can remember. The name and central product have changed a few times over the years as he's sold one business or another and developed new products, but its always been in the IT field.

Over the course of 15 years of working on all sides of the benefits table - from HR specialist to administrator to carrier account manager - Sher Sparano observed the health care process enough to see the lack of resources that HR departments had in handling their employees' benefits.

In the current broker/client business model local relationships are clearly preferred. However, that does not take into account the new health care landscape.

It’s getting harder and harder to ignore the importance of Twitter in the social media world. With the news that Prince Walid bin Talal of Saudi Arabia has taken a $300 million stake in the social media site, it’s just about impossible.

As 2011 comes to a close, it’s time to plan for 2012. Many of you have already completed your planning. Some of you are in the process of doing your planning and a few of you . . . perhaps more than a few, never have nor will you do any planning. …

Before putting a bow on 2011, advisers and their clients should take the time to nail down these four key aspects of their finances to ensure financial planning success in 2012, according to M&I, a part of the BMO Financial Group.

It seems like almost a daily event … I’m meeting with a client to discuss their renewal and they say, “Why are health care costs rising faster than the rate of inflation (CPI)?” Like me, I’m sure this question takes you many places because the answer can be complicated but is it really?

According to data from ACSI LLC, P&C insurers are improving customer satisfaction, while life insurers are steady and health insurers are slightly declining.

Professional insurance agents have what insurance customers are looking for, according to research results issued by the PIA Partnership. The PIA Partnership is a group of insurance companies that works collaboratively with PIA National to conduct research and develop tools and resources designed to benefit professional independent insurance agents. PIA is a national trade association that represents member insurance agents and employees who sell and service all kinds of insurance.

In 2012, the U.S. life and annuity insurance industry will be challenged to find ways to manage both capital and risk in an economically and politically uncertain year, while continuing to lay the groundwork for future growth, according to Ernst & Young's new Global Insurance Center U.S. Outlook report.

The Independent Insurance Agents & Brokers of New York hosted more than 50 high school students participating in insurance industry classroom-to-career education program.

A key difference between prosperous and low-performing financial advisers is how they price their business, a new report from Toronto-based wealth management research company PriceMetrix finds.

Segmenting the market and focusing on primarily one or two customer groups has historically been a winning strategy in a number of other industry sectors. Market segmentation also can be applied to insurance, benefits, and voluntary benefits. While there are a number of ways to segment the characteristics of a potential client base, many firms successfully choose to focus on a particular employer industry sector. Such a focused approach can result in a much deeper…

Nationwide Financial launched a tool Tuesday that aims to help advisers estimate their clients’ health care expenses in retirement, which most Americans fail to plan for, the company says.