Voluntary Conservation and Retention Practices

Cost: $3,500; published 2021

Carriers agree creating customer loyalty at both the employer and employee level is important for their voluntary business. Beyond intent, what actual strategies and practices do carriers have in place to conserve and retain their customers? Do they view these efforts as profitable? Are carriers actively pursuing lapsed policyholders and accounts, and, if yes, how?

The Voluntary Conservation and Retention Practices Spotlight™ Report focuses on carrier practices at the employee and account level. The report provides information related to carriers’ conservation and retention practices including:

  • Voluntary platform type and portability differences by platform and product
  • Current conservation rates overall and by product, and changes to those rates in the last two to three years
  • Employee-level portability and conservation practices
  • Account-level portability and conservation practices
  • Commissions, loss ratios and persistency experience
  • Obstacles to current and future conservation and retention efforts
  • Changes to conservation programs in the next one to three years

With this information, carriers can assess how their company’s voluntary conservation and retention practices compare to other carriers and devise strategies to conserve business more effectively.


View Table of Contents

1. Executive Summary

A. Study Objective

B. Key Findings

C. Recommendations

D. Methodology

2. Detailed Findings

A. General Carrier Information

1. Voluntary Products Platform

2. Employee Portability Differences by Product Type or Platform

3. Percentage of Eligibles Keeping Policies

4. Port Rates by Product

5. Conservation Rate Changes Over Last Two to Three Years

B. Employee-Level Portability and Conversion

1. Standard Process for Employee Conservation

2. Employee Notification Method

3. Employee Notification Responsibility

4. Type and Number of Notices Sent to Employee

5. Portability Timeframe

6. Special Portability Requirements

7. Collection of Back Premiums

8. Modes of Premium Payment Allowed

9. Most Frequently Used Premium Payment Method

10. Group Products—Premium Changes Once Coverage Ported

11. Group Products—Group Continuation Requirements

12. Group Products—Use of Trust or Port Pool

13. Call Center Retention Steps

14. Additional Coverage Options Allowed

15. Policy Downgrades Offered to Retain Policyholder

16. Marketing Additional Products to Ported Insureds

17. Employee Customer Loyalty/Retention Strategy

18. Renewal Commissions Payments

19. Loss Ratio Experience for Ported Coverage

20. Persistency Experience for Ported Coverage

C. Account-Level Portability and Conservation

1. Steps Taken Upon Group Lapse/Cancellation

2. Whole Group vs. Individual Employee Actions

3. Group Reinstatement Process

4. Account-Level Customer Loyalty/Retention Strategy


D. Conservation Strategy, Challenges and Future Trends

1. Corporate View of Portability

2. Obstacles for Current and Future Conservation and Retention Efforts

3. Changes to Conservation Programs in Next One to Three Years



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For more information, please contact us at [email protected] or (860) 676-9633.



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