Archive for March 23rd, 2010

The Patient Protection and Affordable Care Act was signed by President Barrack Obama today, leaving many in the insurance industry (distribution side specifically) in a wait and see mode with regards to how the legislation will directly or indirectly impact their businesses .  Agents that focus heavily on health insurance are questioning what role they will have in the new system.  Many anticipating this legislation, began diversifying their business spending time and resource on introducing or expanding their role in ancillary lines, e.g., LTD, Life and voluntary group products sold at the workplace.  This diversification will pay dividends long term especially given the fact no one knows for certain how this legislation will impact agents.

Another subset of the marketplace questioning  their role are those in the limited medical business.  We have talked with agents who focus in this area, and they too are looking  at complimentary lines of business to enhance their position in the event their programs are in jeopardy.

Cranbury Professional Service has always been a strong advocate for diversifying business models.  Having a diverse business model helps insulate your overall business in the event of market change.     

We would like to hear from you:

Have you explored  new revenue sources in anticipation of the legislation, or are you now considering looking to alternate products, and channels?

Please post a comment or feel free to call us at 630-501-1193 to discuss ideas.

George Bode

“All things change, nothing is extinguished”—-Ovid

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