About one-third of the large employers surveyed are “very likely” or “likely” to add a new voluntary benefit and/or move a current benefit to voluntary over the next 18 months. Currently over 80 percent of large employers offer at least one voluntary benefit to their employees, most often critical illness or accident. Large employers include those with 1,000 or more employees.
The purpose of the Opportunities for Voluntary in the Large Case Market report is to help carriers better determine if this is a market worth pursuing and/or how to compete effectively in it. Following are a few additional findings from the report:
Non-traditional voluntary products (e.g.: pet insurance, legal plans, ID theft protection, etc.) have the highest sales potential with large employers.
Large employers are fairly open to using exchanges in the future, particularly for both core and voluntary benefits.
Although more and more employers are embracing electronic enrollments and benefits communication, large employers appear to use these more often.
The key topics covered in the report include:
The cost of the report is $3,500. To purchase, call
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.