“The challenge facing successful business ventures is to understand the necessity to continuously respond to market forces in a proactive manner since competition will certainly become a factor to consider at some point. To ignore this basic business premise by remaining complacent is business suicide.” – Bill Rusteberg
Health insurance brokers continue to do well for now. But many are on borrowed time.
New era health care financing and a more efficient market distribution system will effectively make most independent health insurance brokers less relevant, obsolete, a memory of past opportunities.
Cyber space distribution of products and services is rapidly replacing brick and mortar retail stores across the country. Shopping malls are half empty, vast parking lots, potholes and all, have seen better times.
So too will be the fate of a majority of retail insurance brokers, replaced by cyberspace brokers with a click of a button.
The few surviving health insurance brokers recognizing and adopting high tech brokerage aggregation will prosper. Hedge funds, always in search of lucrative opportunities, will join in, consolidating market distribution, creating a series of controlling regional monopolies of Gold Star Distributors
The few remaining legacy brokers still standing will be beholden, “Outside Producers.”
The future is inevitable.
