Third-Party Administrators and Outsource Providers in the Voluntary Market Spotlight™ Report

Cost: $3,000; published 2021

Employers and brokers demand excellence in carrier voluntary administration — in fact, it has risen to the top of the list of factors employers and brokers evaluate to select a voluntary carrier. Technology and provider offerings are rapidly changing, and although most voluntary/worksite carriers handle voluntary administration and service processes in-house, many have explored or are exploring outsourcing particular functions or services to meet client needs. Many third-party administrators service a variety of business lines, so understanding the voluntary-specific capabilities these providers can support becomes critical to success.

The objective of this Spotlight™ Report, Third-Party Administrators and Outsource Providers in the Voluntary Market, is twofold. First, it provides carriers with detailed information on select TPAs and third-party outsource providers with voluntary market experience. This report compares the services of six TPA/outsource providers to better understand their capabilities and offerings in the voluntary market and updates the 2017 report, including three of the five companies from that report plus three new companies. Second, it provides a new perspective on carrier outsourcing practices, exploring how commonly carriers outsource administration, which functions in particular they outsource, and how they handle situations where employers are using a TPA.