Some of the reasons carriers participating in Eastbridge Consulting Group’s 2020 Voluntary Participation Rates Spotlight™ Report cite for increased average participation rates include a renewed focus on voluntary products corporately; more effective enrollment technology; working conditions and marketing/education tools, as well as targeted distribution strategies.
The recently published report compared the participation rates experienced by 29 carriers in the voluntary market. Following are a few key findings from the report:
Participants were not able to provide data on all measures because of not being tracked separately or at all; however, this report provides a valuable snapshot for carriers to compare their own results to others’ in the industry. Where appropriate, the report also compares findings to the previous report published in 2017.
Voluntary Participation Rates, a Spotlight™ Report
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.