AVON, CONNECTICUT, USA (November 28, 2006)-The voluntary market is served by at least eight different segments of producers. That was just one of the findings in a recent study by Eastbridge Consulting Group.
The report, The Evolving Voluntary Broker: A Look at Who is Selling Voluntary in 2006, gives insight into each of these segments. For example, in the past, segments often dictated the product and platform preferences of the producers. Carriers that wanted to target a particular segment just needed to make sure they offered the right set of products on the right platform. Today, however, the traditional preferences are not as strong. Instead, the segments suggest that carriers wishing to target different segments need different business models to attract them. This is because different segments of producers have different factors they consider to be important in the carriers with which they prefer to do business. Carriers need to focus on a given segment to know where to best invest their resources. For example, do the brokers you are targeting want you to provide enrollers or will they handle their own enrollment needs? Do you need to invest in technology tools or do brokers provide their own?
The report provides answers to these questions and more. It outlines the unique characteristics of each segment and then covers:
The products/services sold by these producer segments
The amount of worksite they sell
Their expectations from carriers
Their unmet needs
This information will help carriers fine tune their marketing strategies and define ways to get a greater share of their selected producer segments� business.
About Eastbridge Consulting Group, Inc.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada. www.eastbridge.com