Death of a broker

I see a lot of surveys and reports and analysis in my job. Some I look over, some I ignore. For the most part, I’m never that surprised, as most of the findings say pretty much the same thing most of us have already heard or suspected. 

But today was different. When I first saw Aflac’s new Worksite Report, I actually did a double-take.

In case you missed my news story, here’s the gist: A whopping 45 percent of brokers are considering quitting — actually leaving the health insurance business altogether.

More than half of brokers say they have very little confidence — if any — in their future. About a third of them are worried they won’t remain relevant.

How worrisome is this? Extremely.

I’ve heard many concerns and anecdotes from a variety of my broker sources before, but Aflac’s report spelled out what they referred to as the “great broker-employer-employee divide.”

The fact is that though brokers are filled with self-doubt, thinking they aren’t needed, employers and employees are both saying they are in desperate need of guidance from them. Now more than ever.

The Aflac report made me recall another one I wrote about last week. LIMRA found that most Americans flunk a basic health insurance test. For the most part, consumers lacked knowledge about plan features, how various types of plans work and the costs involved.

Surprised? You shouldn’t be.

Anyone in the benefits business should know that their work is confusing to everyone who isn’t involved in it.