New Eastbridge Report Examines Role of Medical Brokers in Voluntary Market

AVON, CONNECTICUT, USA (May 27, 2008) – The majority of medical brokers(94 percent) already sell at least some voluntary products. But most only do so occasionally or when requested by a group client. In fact, 12 percent get less than one percent of their income from voluntary.

This is just one of the findings in Eastbridge�s latest spotlight report, Medical Brokers and Voluntary. The objective of the report is to understand the role that worksite marketing and voluntary benefits play for the medical broker. [Note: For the purposes of this study, medical broker is defined as someone selling group medical coverage. To qualify for the interview, the broker must have medical insurance in at least 10 percent of his/her groups. In actuality, the majority have it in 75 percent or more.] A total of 644 brokers were interviewed for the study.

Specifically, the report helps answer these questions:

  • What percentage of medical brokers currently sells worksite products?
  • How much do they sell, how often, under what circumstances, etc.?
  • Where does worksite marketing �fit� in their selling cycle?
  • What carriers do they use most frequently and why?
  • What do they need/want from a carrier?
  • How can insurers best compete for their business?
  • For those brokers that don�t already sell worksite products, why not, and what would it take to get them to do so?

With this information, carriers can learn what is needed to earn this segment�s business and, in turn, be able to use this knowledge to attract medical brokers to their product offerings.

The report is now available for sale for $3,000.

About Eastbridge

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.