Voluntary benefit sales are up, but the lingering pandemic is still affecting business, according to a report by Eastbridge. Many brokers say their sales grew in 2021, especially those who sell primarily voluntary products. Many brokers say the pandemic has already had a positive impact on their business by helping people realize that they need these benefits. Forty percent report increases in quote requests and enrollment activity. However, brokers still face challenges gaining access to employers and employees.
The survey also finds that lower price isn't necessarily the main reason for brokers to switch voluntary carriers. Key reasons are better benefit features and better integration with clients' enrollment and administrative needs.
Contact CoPower for the products and support you need for success in the voluntary benefits market.
Jason Diffenauer
CoPower Sales Account Manager
jdiffenauer@copower.com
650.931.1731