Five actions to acquire and grow SMB accounts
Employees today are demanding more and more out of their benefits package. Historically low unemployment has made the employee a key influencer in the benefits decision, and employers are struggling to keep up with rising expectations from their workforce. To acquire and grow SMB accounts, carriers and brokers must work together to build a seamless journey from switching, to funding, to shopping, to enrolling and managing benefits.
We conducted a multi-faceted research study on workplace benefits with business owners, HR buyers and employees. In surveying over 300+ small business (<100 employees) employers and employees, conducting candid interviews to identify buying decision drivers, and tracking online conversations to surface real-time trends, we uncovered a number of pain points and barriers:
of employers are at least moderately dissatisfied with their carriers, yet only 15% have switched
of employees agree the open enrollment process is intimidating and frustrating
of small businesses use a tech platform to enroll in benefits
In surfacing these insights and talking to employers and employees directly, we were able to identify critical buyer pain points and hone in on actionable revenue opportunities. In this report you will receive…
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