As brokers continue to search for voluntary benefits to supplement their sales in the coming years, legal plans might just be one of them. According to Dennis Healy, vice president of group sales at ARAG, his company saw a 40% increase in RFP activity in 2011 and he expects the rise to continue. He notes that most new business is growth in the industry with new clients, while only 20% of RFPs are for competitor bids.
“Brokers are asking, ‘What can I do that’s new?’ And I’ve seen some very interesting data recently around health and productivity. … It’s the same with the stress of a legal issue. They’re unable to focus on what they’re doing every day because while sitting at a computer they can be tempted to spend hours on their family issue,” Healy says.
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