Large employers continue to embrace voluntary benefits according to recent Eastbridge research.

AVON, CONNECTICUT, USA (February 28, 2017)

The percentage of large employers offering at least one voluntary product ranged from 84 percent for those with 1,000-2,499 employees to 94 percent for those with 2,500-9,999 employees. While significant percentages, almost 40 percent of those surveyed are still considering adding a new voluntary benefit in the next 18 months, showing that the large case market is far from being saturated from a voluntary benefit standpoint.

The Voluntary Benefits in the Large Case Market Spotlight™ Report analyzes the opportunities for selling voluntary benefits in the large employer market (defined as cases with 1,000 or more employees) and updates Eastbridge’s original report published in 2014. Specifically, the report looks at the size of the market, typical products purchased, employer views of products and carriers, key players in the market, and carrier practices.

Following are a few of the report’s key findings:

• Most of the larger employers use more than one carrier for their voluntary benefits, with over one-third indicating they use six or more carriers.
• Large employers are also offering more non-traditional voluntary benefits today, with pet insurance leading the way.
• The majority of large employers prefer all benefits to be enrolled on a single platform, regardless of the number of carriers used.

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