Small employers represent great potential for voluntary benefits according to a recent Eastbridge Consulting survey

AVON, CONNECTICUT, USA (January 13, 2015)

Small employers (those with 10 to 100 employees) account for 92 percent of all businesses in the United States and employ over 27 million employees. Yet only about half of very small employers (those with 10-49 employees) currently offer at least one voluntary benefit, representing a great potential for carriers and producers to sell worksite products. Employers with between 50 to 100 employees are more likely to offer voluntary, but still have room for growth in this area.

The purpose of the Voluntary and the Small Case Market Spotlightâ„¢ Report is to explore the opportunities for selling voluntary benefits in the small employer market. Following are a few additional findings from the report:

Among all employers surveyed, those with between 50 and 100 employees are most likely to consider adding a new voluntary benefit or moving a current benefit to voluntary.

Small employers are somewhat more likely to continue to offer benefits as usual rather than through an exchange, private or public.

Most small case employers prefer to use web-based enrollments but also prefer to use internal staff to handle voluntary enrollments as opposed to a broker or carrier.

The key topics covered in the report include:

  • The size of the small employer market
  • What products are sold in this market
  • What small employers look for in a voluntary product
  • Small employer preferences that impact carrier service
  • The top carriers in the market
  • Any differences in attitudes or ownership for employees in the market

The cost of the report is $2,000. To purchase, call (860) 676-9633 or email info@eastbridge.com.

Report Summary

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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