Season 3 Episode 30
Season 3 Episode 30
Eric Silverman is widely recognized as a leading authority and catalyst for change in the realm of enhanced employee funded benefits, formerly referred to as the "voluntary" industry.
With nearly two decades of expertise in employee benefit sales, marketing, management, and recruitment, Eric is acknowledged as a seasoned subject matter expert. He is frequently sought after by various industry journalists for interviews and is a regular speaker on panels and keynote addresses at major national conferences.
In 2017, Eric was honored with the esteemed "Voluntary Adviser of the Year" award by Employee Benefit Adviser (EBA) magazine—an accolade presented annually to a single voluntary adviser across the industry. Serving on the Workplace Benefits Association Advisory Board, he has also been recognized as a "Rising Star in Advising." Notably, he was voted among the top 30 "Benefit Pros to Follow" on Twitter and is a featured commentator in EBA's online magazine.
Eric's leadership has resulted in the recruitment, training, and development of over 2,000 commission-based sales agents, interns, and broker partners. This strategic effort led to the acquisition of more than 2,500 payroll accounts, generating a remarkable $80 million in gross revenue.
Eric's business expansion is driven by cultivating broker partnerships and fostering a network of college interns and career agents to support his broker-centric initiative.
SBG, recognized as the premier broker's broker, is a carrier-neutral benefits boutique with a strong track record spanning multiple decades in the small, mid, and large group market segments. Boasting a broad national presence, SBG offers in-house distribution and an enrollment arm, positioning them as the preferred choice for enhanced benefits among broker partners. They also excel as a comprehensive end-to-end benefits installation and service provider. SBG holds appointments with top-tier carriers in the industry and maintains high-level contracts with volume-based carrier underwriting concessions, extending these advantages to all of SBG's partner firms.
Welcome to the Insurance Leadership Podcast, where we bring you insights and discussions with some of today's top business leaders and experts. In this episode, host Ryan Eaton engages in a thought-provoking conversation with Eric Silverman, a seasoned expert in the field of employee benefits and the founder of Voluntary Disruption. Eric brings a wealth of knowledge and innovative thinking to the discussion, focusing on the crucial topic of enhancing employee benefits.
Tune in to this episode of the Insurance Leadership Podcast to gain a fresh perspective on employee benefits and the evolving landscape of the insurance industry.
Benefit plans must align with the unique needs and preferences of employees, and they should go beyond that of standard offerings. Eric and Ryan discussed how many standard benefit packages leave gaps in employee medical plans.
Large companies need better enrollment systems.
The conversation takes an interesting turn as Eric critiques the commonly used terms "voluntary" and "ancillary" when describing enhanced benefits. He suggests more effective language that truly communicates the value of these offerings to employees. If the employees cannot understand their benefits plan, they will not fully grasp the value.
Word choice proves paramount 100% of the time.
Technology and artificial intelligence (AI) are slowly revolutionizing the insurance industry. Eric shares his own experiences using ChatGPT for marketing and communication purposes, streamlining processes, and improving efficiency.
Listeners gain insights into the significance of strategic alignment among brokers, employers, and carriers. Eric advocates for proactive communication and collaboration to create bespoke benefit solutions that cater to the specific needs of each organization.
Ask carriers for what you need...they'll provide within limits.
Eric challenges the limitations of geographic boundaries in a digitally connected world. He urges industry professionals to prioritize building relationships beyond traditional borders to foster valuable partnerships.
Carriers have geographic borders, but relationships matter more.
While not delving into specific trends, Eric acknowledges the dynamic nature of the industry. He hints at potential future trends such as fertility benefits, pet-related coverage, and identity theft protection.
Eric's insights hold substantial implications for both employers and employees in the field of employee benefits. His emphasis on tailoring benefit packages to individual employees' unique needs, moving beyond standard offerings, is crucial. Addressing gaps in medical plans underscores the necessity of a comprehensive and personalized benefits approach.
The conversation takes an intriguing turn as he challenges common terms like "voluntary" and "ancillary" used for enhanced benefits. Reframing these terms, as Eric suggests, demonstrates a nuanced understanding of effective communication's role in conveying the true value of such offerings, which could significantly enhance employee engagement.
Moreover, the transformative role of technology and artificial intelligence in reshaping the insurance industry is a key point of Eric's discussion. He illustrates how tools like ChatGPT can streamline processes, improve communication, and enhance overall efficiency. Eric stresses the need for insurance professionals to embrace technological advancements to stay competitive.
Collaboration is another cornerstone of Eric's insights. He advocates for strategic alignment among brokers, employers, and carriers, underlining the importance of proactive communication and collaboration to create tailored benefit solutions for specific organizational needs. His perspective encourages professionals to cultivate meaningful partnerships beyond traditional boundaries.
Interested in diving deeper into Eric’s insights and making a connection? Email Eric at (eric@voluntarydisruption.com) and visit his LinkedIn profile. He also mentions his podcast, "Rockstars Rocking," which features engaging discussions with industry experts.
Make sure to tune in to next month's episode, where we'll be continuing our conversation with Chad Hogan from Quotit. Join us as we learn about ACA online platforms.
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