The world is changing for insurance agencies and brokers as much as it is for HR and benefits leaders. Each group is beset by uncertainty over affordable care mandates, ever-complicated HCM technology options, and a blurred line between HR vendors and insurance companies. Meanwhile, insurance brokers and agencies are struggling with changes to their business model and shrinking revenue from the narrowing paths of compensation (decreased client retention, fewer client acquisitions, and leaner commissions from technology sales). Amid all of that, HR wants and demands continuous improvements to its benefits programs, while facing the increasingly complex task of getting a comprehensive program that makes solid sense for the bottom line and for employees.
Everyone wins when they turn to an HCM platform built by people who understand and appeal to both sides of the equation — a platform that can offer solutions for HR and build trusted alliances with the broker community. When that happens, agencies and brokers are supported to build new relationships and retain current clients, while HR is better equipped to meet its strategic goals, meet employee expectations, and be more efficient.