Insurance Worksite Marketing
Worksite Marketing for insurance (also known as workplace marketing) is part of the insurance field that has seen growth over the past two years with a significant growth of just under seven percent for the US market in 2009 alone. This is a large percentage when you compare it to the individual sales market that was under one percent. While many business areas are struggling it seems that the insurance sector, especially for workplace marketing is really striving forward, moving from strength to strength.
Employers have been responding more and more to worksite marketing offers, including insurance benefits, because the benefits employers offer as a package are good but are not always going to cover what each individual staff member needs. This combined with the current economic affairs has meant that employers are taking even more interest in the retention of key staff members.
Another reason why workplace marketing for insurance is consistently performing well is because of the approach taken by the industry. The approach means that insurance brokers facilitate the workplace marketing with the employers so the employers know that employees are getting advice on benefits they may need, but at no cost to the employer themselves. On top of this employees can obtain any required insurance benefits they require, that suit their needs and the premium can be deducted in many cases before taxes (depending on the benefit).
Overall this approach is a win, win and win situation. The insurance broker wins because he or she gets to offer insurance products to a multitude of staff members at the agreement of the business. The business wins because its staff are being offered benefits through them at no cost to the business and the employee wins as they get the additional insurance benefits that fit their personal circumstances.
As the worksite marketing sector is improving all the time with employers eager to ensure the financial security of their staff in the current economic climate it seems that workplace marketing insurance will continue to grow through out 2010 and into 2011.
If you are an insurance professional that has never really entertained the workplace marketing field then its time to reflect on the potential business you are losing. By taking action in the short term you could forge a great workplace marketing program to businesses to supplement the work you already undertake.
With hundreds, even thousands of staff looking to consolidate their insurance needs worksite marketing looks set to be one way to diversify your marketing efforts and build your business.