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Tips to boost employee engagement
B uilding a solid voluntary benefits book of business requires hard work. Knowing markets, understanding products and engaging employer groups are all important. But nothing happens until there's a sale. And that sale doesn't take place until an employee checks the "yes" box and signs on the dotted line.
That's true for all voluntary products, including accident insurance-a coverage that's seen significant employee interest, especially in the shadows of the Affordable Care Act. Agents and brokers can boost employee engagement and participation by providing context, enlisting the support of employers, creating and deploying a solid communication strategy, and engaging employees around topics that resonate with them.
"I'm a huge fan of accident plans," says Brenda Randall, regional worksite leader at Sun Life Financial. "I think they're a great fit for any family-and even individuals-in just about any demographic or group an agent or broker is working with." She calls such plans "peace of mind insurance."
She adds, "My son had an accident that required surgery on his finger. I'm in the industry, and at first I was worried about how much it would cost, but then I remembered we had an accident plan. We went through a lot with the injury, and knowing that I would be able to receive a check very quickly at the end of the ordeal made a big difference for me."
"Explained properly, accident insurance sells itself," adds Len Cavallaro, head of voluntary marketing at Reliance Standard Life Insurance Company. "A significant number of American families-almost 45%-end up in the emergency room each year."
He adds, "Accident insurance is inexpensive, it's virtually menu-driven-find your injury and treatment and get a cash benefit-and it's designed to put money back into the employee's pocket. Who wouldn't like the sound of that?"
Cavallaro points out that, depending on the plan offered, the folio of benefit triggers can be fairly robust, including commonplace occurrences like emergency room and physician office visits, as well as treatment of more serious burns or breaks.
Provide context
Chad Bodner, vice president-worksite sales for Assurity Life Insurance Company, encourages agents and brokers to present accident insurance as part of an overall healthcare strategy. "Where we see most success is when producers offer...