Eastbridge report examines current trends in voluntary product market

AVON, CONNECTICUT, USA (December 22, 2014)

Eastbridge Consulting Group’s Voluntary Product Trends Frontline™ Report surveyed key players in the voluntary market asking about the most pronounced product trends in the voluntary market today as well as their plans for new product introductions in the upcoming year. The report also looked at which products these carrier offer most frequently, the profitability of these products, and which are growth products for their company and the industry overall.

Following are some of the key findings from the report:

  • The most prominent product trends in the voluntary market today are more guaranteed issue and lower participation requirements.
  • Nearly three-quarters of the carriers surveyed plan to introduce new products this year, with many planning to introduce more than the typical number.
  • Hospital indemnity was the most commonly mentioned product to be added in the next two years, followed by critical illness, universal/whole life, supplemental medical (gap plans) and accident.
  • The top two growth products for the next two to three years are critical illness and accident insurance.

The 2014 Voluntary Product Trends Frontline™ Report enables voluntary carriers to evaluate their product development strategies in light of the market’s current trends. Eastbridge Information Partners as well as survey participants receive the Frontline™ Report free of charge.

For more information regarding the Information Partner program or about Eastbridge reports, email the company at info@eastbridge.com or visit the website at eastbridge.com.

 

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.


 

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