PresentationWorksiteMarketing2008-NAHU.ppt

* Worksite Marketing 2008 When should I approach my group clients? At renewal? Mid-year? * Worksite Marketing 2008 What products should I offer? Agents offer Life DI After Medical and Prescription drugs, employees want Dental Vision * Worksite Marketing 2008 Typical Worksite Products Life (UL/WL/Term) DI (LTD/STD) Accident Cancer Heart/Stroke Dental Supplemental Health Critical Illness LTC Vision Mini Med Legal Plans Pet Insurance * Worksite Marketing 2008 Can I make any money selling voluntary benefits? If you don’t someone else will AOR More companies entering the market Also exiting Cross selling opportunities Buy Sell Key man 401k Etc… * Worksite Marketing 2008 What are the pitfalls? Billing problems Especially paper bills Time to enroll employees Good enroller sees 15 – 20 employees per day Access to the employees Are meetings mandatory Multi state locations Partner with a professional enrollment company Split commissions * Worksite Marketing 2008 Final thoughts * Worksite Marketing 2008 According to Eastbridge Consulting Worksite potential $28 billion market Current market penetration is only 30% Market is growing at a rate of 10% to 15% annually Eastbridge Consulting * Worksite Marketing 2008 Why should I sell worksite products? Keeps out the competitors Provides a service to your clients Additional stream of revenue LIMRA says more lines of coverage with a client the better chance of keeping them If you don’t sell these products someone else will sell them and you may lose a client * Worksite Marketing 2008 When looking to get started in Worksite Business Strength of corporate financials Commitment to the voluntary benefits market Competitive product portfolio Producer compensation Who owns the business? Service and Technology to support the sale Technology to support the enrollment process Producer friendly, Relationship Driven Company * Worksite Marketing 2008 QUESTIONS ? * Worksite Marketing 2008 Thank you John D. Joseph, LUTCF,