How familiar are you with Piedmont’s split direct deposit solution?  It is gaining popularity as the next generation model for voluntary benefits that eliminates the employer billing and reconciliation process entirely.  Remember, billing continues to be the #1 source of frustration among VB clients.  In fact, over 50% of VB account defections cite “billing issues” as the primary reason for dropping coverage…and everyone has their own personal story of accounts and renewals lost due to billing.

So how popular is Split Direct Deposit?  According to the Electronic Payments Association , 82% of Americans are now paid by direct deposit – and 24% of those people now use split direct deposit for their insurance and financial needs.  So today, 1 in five working Americans use split direct deposit.  It’s easy, it’s clean, and it’s effective.  Furthermore, 72% of those who use split direct deposit say they will continue to do so.  Every day, the traditional payroll deduction market shrinks and split direct deposit grows in popularity.  And why not?  The model eliminates the employer bill, carriers get paid faster and more accurate, and agents and brokers make more sales and get paid faster. Everyone wins.

How many sales and renewals are you losing because of billing issues?  How many sales are you missing out on because employers, unions and associations don’t want to do payroll deduction any longer?  Why not use a better premium collection model that is already used by one-fifth of working Americans?