WORKSITE MARKETING
There’s Gold in the Workplace
Producers and carriers who don’t offer voluntary products in the workplace
are missing opportunities for success.
J Pulie Britt
roducers are not taking advantage of
worksite marketing, although consumers are increasingly turning to their
employers for insurance and financial
benefits, according to a recent LIMRA
study, Harvesting Tomorrow’s Worksite
Distributors. However, carriers can boost
this market with producer incentives,
support and education.
Success in other markets has dampened producers’ interest in worksite marketing, the study shows.
“Though many carriers now suc-
cessfully focus on small employers, one
in five producers feel that their clients’
businesses are too small for voluntary
benefits. Greater carrier educational efforts are needed to combat agent and
broker skepticism toward this channel,”
says Ron Neyer, CLU, ChFC, a LIMRA
senior analyst who wrote the research
report.
Worksite marketing, like all insurance marketing, requires unique skills
and processes, Neyer says. “It is unrealistic to consider voluntary sales to be an
ideal source of business for all licensed
producers, especially when they are having success in other channels.”
However, producers have not ruled
out selling voluntary products in the
workplace. Less than one-fourth ( 17 percent) say there is nothing a carrier can do
to stimulate their interest in worksite distribution, Neyer says.
Opportunities abound
“Motivated advisors looking to uncover
new opportunities should consider worksite marketing sales,” he says. “While
