Voluntary Benefits: Broker Playbook

Upselling Voluntary Benefits: A Broker’s Playbook

As employee needs evolve, voluntary benefits are emerging as one of the most powerful growth opportunities for brokers. They offer corporates more flexibility, employees more choice, and brokers a high-value revenue stream that strengthens long-term relationships. With digital platforms like benfit.care, brokers can now upsell these benefits at scale backed by data and seamless digital journeys.

This playbook breaks down what voluntary benefits are, why they matter, and how brokers can use data-driven tactics to increase adoption.

What Exactly Are Voluntary Benefits?

Voluntary benefits are optional insurance coverages employees can buy at their own cost often at discounted corporate rates. These benefits complement the employer-sponsored group health or life insurance plans.

Common voluntary products include:

• Personal Accident (PA) Insurance

• Critical Illness Plans

• Top-Up Health Insurance

• Term Life Insurance

• Hospital Cash Plans

• OPD & Wellness Add-ons

These options help employees customise their protection based on family size, lifestyle and financial priorities. For brokers, they represent a scalable offering that adds depth to the benefits portfolio.

Why Voluntary Benefits Are a High-Margin Opportunity for Brokers

Voluntary benefits offer significant advantages:

1. High Margins With Low Sales Costs

Since employees opt in individually, brokers don’t need lengthy negotiation cycles with employers. The corporate simply approves the offering and employees handle the rest.

2. Immediate Upsell Potential Within Existing Clients

Brokers can drive additional revenue without acquiring new customers. A 500-employee company can easily yield 15–30% voluntary adoption if positioned well.

3. Increased Client Stickiness

When employees rely on their voluntary coverage, corporates are less likely to switch brokers. The broker becomes the “trusted benefits advisor” rather than just a policy provider.

4. Growing Market Demand

Employees today want more control over their health and financial security. Offering choice strengthens the corporate benefits brand which HR greatly values.

Data-Driven Tactics to Identify Potential Buyers

Instead of blanket promotions, brokers can use behavioural and demographic data to identify employees most likely to adopt voluntary plans.

Here’s how:

1. Analyse Claims Trends

High hospitalisation claims often indicate a need for top-up covers or critical illness plans.

2. Use Age & Family Profiles

Employees over 30 or those with dependents show higher interest in life insurance and top-ups.

3. Track Wellness & Lifestyle Activity

Engaged employees tend to be more proactive about protection, a perfect audience for PA and wellness add-ons.

4. Use Corporate-Level Insights

Industry, risk type and workforce composition can guide product recommendations.

For example:

IT firms: high adoption of wellness & OPD plans

Manufacturing: strong interest in PA covers

A data-backed approach ensures higher conversion and better employee satisfaction.

Building a Digital Sales Funnel for Voluntary Benefits via benfit.care

This is where benfit.care becomes a game-changer for brokers.

The platform helps you build a complete, automated voluntary benefits sales funnel:

1. Highlight Plans in the Employee App

Employees can explore voluntary products directly, with clear coverage details and premium calculators.

2. Automated Awareness Campaigns

Push notifications and in-app banners educate employees about relevant add-ons based on their profile.

3. One-Click Purchase Journey

Employees can opt-in digitally, no paperwork, no follow-ups.

4. Real-Time Analytics for Brokers

You get insights into:

• who is viewing which products

• engagement levels

• conversion patterns

• gaps where targeted nudges are needed

5. Higher Corporate Satisfaction

HR teams appreciate brokers who bring choice, transparency and technology-driven adoption.

Voluntary benefits are no longer just optional add-ons they’re a strategic revenue driver for brokers and a critical part of modern benefit packages. With data insights + digital distribution via benfit.care, brokers can create a high-converting, low-effort upsell engine that boosts revenue while delivering real value to employees.