Voluntary benefits

Only a tiny percentage of pet owners in the United States have insurance for their pet, but according to the American Pet Products Association, about 62% of U.S. households have a pet. Clearly, the pet insurance is a market ripe for growth. "The message there is in the opportunity to increase participation for consumers and for groups," says JoAnne Novak, VP, business development with Hartville Group, Inc., and its flagship brand ASPCA Pet Health Insurance.

Sun Life Financial Inc. recently enhanced its emergency travel assistance service for group basic life customers by adding identity theft protection.

Anthem Blue Cross Life and Health Insurance Company recently enhanced its Resource Advisor member-assistance service to include Beneficiary Companion and Identity Theft Victim Recovery Services programs at no additional cost to customers.

One pet peeve of employers, brokers and carriers is that employees don’t spend enough time reviewing their benefit plans during open enrollment.

The boundary between voluntary and employer-paid benefit sales is disappearing in an increasingly competitive climate where more brokers are abandoning territorial patterns, suggests new research from Eastbridge Consulting Group.

Chances are, you have concrete criteria (and perhaps some softer considerations) you’re looking for when you’re selecting a broker. Ever wonder what criteria your broker looks for when they shop for a vendor for you?