Success in the voluntary benefits field has a lot to do with partnerships: brokers, employers, carriers and third party vendors all work together to deliver a product to consumers—in this case, employees at a client’s company.
As we’ve seen in the other installments of this series, offering voluntary benefit products has become common among many agencies, and others are expanding the scope of their voluntary benefits offerings. So, how do you find the best fit?
What carriers will work best for you and your clients?
It’s the $64,000 question (extra points if you get that reference without Googling it!). Especially for brokerages expanding their offerings, finding a good carrier is crucial.
Experts recommend emphasizing a strategic approach. “We find the brokers that keep their clients are the companies that offer solutions, and not just products,” says Daniel Johnson, vice president of sales and marketing for Trustmark Voluntary Benefits Solutions. “What we ask is, ‘are we listening to our customers?’ We design the product around what their needs are, by doing surveys and focus groups, to find out what they really want.” (read more)