Health Shield intends to expand its voluntary corporate business in 2013 by encouraging more intermediaries to tap into an ‘unrealised' commission stream.
The friendly society aims to raise further awareness among intermediaries about the benefits of introducing a health cash plan for corporate clients.
Peter McAndrew, sales director at Health Shield said: "As straightforward and attractive as it might seem, a voluntary corporate scheme is often the forgotten question asked by intermediaries."
He said the number of advisers recommending such schemes has remained low due to factors including a lack of knowledge of the product and misconceptions of the place voluntary corporate schemes have in a portfolio and employee benefits package.
McAndrew added: "The average voluntary corporate premium is around £300, with 10% commission on initial implementation and a further 2.5% on renewal. Additional revenue can also be earned through worksite marketing and increases in levels of cover.
"Voluntary corporate members are traditionally loyal. They continue to use their plans over a long period and generally increase their levels over time as they see value in the health cash plan.
"Companies that implement such a scheme can often extend the level of cover they provide in future. As such, we see this as an important growth area for Health Shield and our intermediary partners, when company-paid budgets are not available"
