Traditional employee benefit brokers continue to make inroads against brokers who specialize in selling voluntary benefits in the competition for employer business.
The percentage of brokers selling or cross-selling voluntary benefits to their employer accounts climbed to 57 percent this year from 48 percent three years ago, according Eastbridge Consulting’s latest market survey.
“The days of the benefit broker and the voluntary broker peacefully co-existing in a case are waning,” wrote Eastbridge president Gil Lowerre.
Competition among brokers and increasing employer expectations have forced traditional benefit brokers to “up their game,” said Eastbridge consultant Erin Marino. (read more)