Increasing Broker Revenue with Workplace Benefits

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The Affordable Care Act (ACA) brought significant changes to healthcare and has continued to do so through amendments, modifications and the threat of repeal. However, the ACA has also increased the demand for Workplace Benefits such as Accident, Critical Illness and Short-Term Disability coverage.

The complexity of providing well-round benefits to attract and retain talent now requires more conversations with C-suite executives and Human Resource Benefits professionals. Brokers today, more than ever, need to act as guides to help educate that additional benefits should be an option for all employees.

Market changes have created opportunities for brokers. It is no longer a question of if, but when, employers will purchase workplace benefits

According to ThinkAdvisor, 89 percent of brokers agree that rising health care costs are directly impacting their clients’ abilities to offer benefits.  With 49 percent of employers reporting they will rely on brokers to help make benefit changes, there is a tremendous opportunity for brokers in the Workplace Benefits market today. 

Now is the time to jump into the workplace benefits pool. Collaborating with trusted carrier partners can help build your business as clients are now demanding additional coverage for their employees.  The right carrier partners can empower you to help employers who want to provide more in-depth, comprehensive coverage that cuts costs for the business and employee.

There are significant opportunities to cross-sell when adding Workplace Benefits to your product portfolio.  In addition to generating increased revenue, Workplace Benefits help brokers win new business and keep customers more satisfied. For more information about the workplace, benefits click here.

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