Even before the pandemic changed the working environment, adaptability and technology were essential for benefits brokers to thrive. The employer-sponsored benefits industry is always in flux with more complex plans every year, new requirements, and changing regulations that make it challenging to keep pace.
While in-person client advisory will always prevail as the warm and assuring medium of choice (and hopefully we’ll get back to that soon enough), the future of benefits brokerage services is online, and those who will succeed are the ones that adopt new technology and tools for virtual business interactions. For years, client communications, benefits enrollment, and account management have been moving online, yet brokers are in the unique position of working with clients, vendors, and providers that may still use conventional methods and analog processes, including paperwork. Even brokers themselves may still be dependent upon paper.
While the changing work landscape pushes more processes into the digital realm, brokers have to balance the needs and abilities of their clients and providers with the demands of new technology. This requires frequent communication, organization, and the implementation of effective tools that will cut down on tedious, time-consuming administrative tasks to free them up for more important work.