For the first time, the percentage of employees who own at least one voluntary product exceeds the percentage who do not own any voluntary products, according to Eastbridge’s MarketVision™ - The Employee Viewpoint Spotlight™ Report. This represents an increase of 13 percentage points (on an overall weighted-average basis) over the same finding in the 2015 study. Furthermore, most employees continue to own more than one voluntary product, with accident and whole/universal life being the top two voluntary products owned in this year’s study.
Eastbridge publishes MarketVision™ reports every few years covering the needs, wants and expectations of key customer groups – brokers, employers and employees. The MarketVision™ - The Employee Viewpoint Spotlight™ Report updates the study completed in 2015 and provides important information carriers can use to develop better marketing plans and strategies, including a more targeted and relevant employee value proposition.
Following are a few key findings from the report:
MarketVision™—The Employee Viewpoint, a Spotlight™ Report
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.