Slideshow Is the ‘traditional brokerage dead?’

Published
  • December 17 2015, 1:29am EST

Overview

Plenty of big news impacted employee benefit brokers this year — including multiple mergers and carriers cutting commissions — which produced some of the most memorable responses from sources.

Here are the top quotes of 2015:

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‘No one is immune’ to consolidation

“Consolidation eventually reaches every industry and it’s our time for major disruption from every angle — the products, the carriers, the distribution, the advisers, the networks, the providers — no one is immune.”

— Wendy Keneipp, a partner and coach at Q4intelligence, on the Aetna-Humana merger

Why the Aetna, Humana merger is a ‘lesson’ for brokers.

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Loss of commission ‘incredibly concerning’

“To the extent that agents are not adequately compensated, are they going to be able to continue to provide service to consumers? That is incredibly concerning to NAIFA and it’s an issue we continually work on — making sure that agents are fairly compensated in order to ensure that consumers have access to professional advice.”

— Diane Boyle, vice president of federal government relations for the National Association of Insurance and Financial Advisors, on Assurant Health eliminating commissions

Assurant Health eliminates commission on new business.

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‘Zenefits chose an unsecure and indirect approach’

"We have never integrated with Zenefits in any sense and have never authorized their method of extracting data from our RUN payroll system. They gained access to our systems by convincing clients to give them administrative access to our platform. Despite having many legitimate ways to integrate with ADP properly, Zenefits chose an unsecure and indirect approach.”

— ADP statement on the defamation lawsuit filed against Zenefits

Zenefits, ADP dispute heats up with defamation lawsuit.

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‘They are specifically angling to say … they have absolutely no obligation to pay us’

“They are specifically angling to say that we do not represent them, that we would be engaged by the customer and that therefore they have absolutely no obligation to pay us.”

— Elena Merino, president and CEO of the Meridian Group, on Aetna eliminating commission for small-group business

Is Aetna eliminating commissions on small-group business?

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‘Zenefits will be extremely good for this industry and extremely good for brokers’

“One of the things that I really believe is that Zenefits will be extremely good for this industry and extremely good for brokers themselves.”

— Parker Conrad, co-founder and CEO of Zenefits

Why Zenefits isn’t anti-broker.

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