Employers, employees and brokers show increasing interest in non-traditional products according to Eastbridge Consulting

AVON, CONNECTICUT, USA (January 29, 2015)

Non-traditional voluntary products seem to be gaining traction in the marketplace. They are increasingly seen as a potential new revenue source for brokers, an innovative and easy-to-offer benefit for employers, and a valued benefit addition for employees. Purchasing programs, pet insurance, legal coverage and identity protection are the most popular with all three groups. Employers are also interested in providing auto/homeowners’ insurance to their employees, and brokers are adding discount health programs to their product portfolios.

The Non-Traditional Voluntary Products Spotlight™ Report provides an overview of the non-traditional market as well as comparative data on various types of non-traditional products on the market today.

Following are a few additional findings from the report:

• The majority of providers use more than one channel to distribute their non-traditional products, but all are involved at some level in broker distribution.
• The most common enrollment methods for non-traditional voluntary products are online (direct or via broker or the employer) and via broker on-site enrollment.
• Most of the providers profiled currently offer their non-traditional products through at least one private exchange.

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