MarketVision™—The Employer Viewpoint©
Cost: $3,500; published 2018
It is probably an understatement to say that it is vital to stay well-informed and ahead of your competitors when it comes to understanding your customers’ needs. In the voluntary/worksite arena, there are three separate “customer” or “stakeholder” groups—the broker or producer, the employer, and the employee. Any carrier that wants to succeed in the market must consider the needs, wants and expectations of all three groups when developing their products, marketing plans and strategies for addressing this evolving and increasingly competitive marketplace.
Eastbridge Consulting Group has partnered with carriers to understand all of these constituencies for over two decades. This report, MarketVision™—The Employer Viewpoint, explores and updates Eastbridge’s data about employer attitudes and opinions regarding voluntary products.
This report includes answers to questions such as:
- What types of benefits (voluntary and employer-paid) do employers offer?
- What changes are being considered to the employer’s overall benefit plan?
- How many employers are offering at least one voluntary product?
- What are the most important factors in deciding to offer voluntary products?
- What are employers’ preferences for voluntary product design?
- What are employers’ preferences on the number of voluntary products offered?
- What are the most important factors for employers in choosing a voluntary carrier?
- Are online administration services important and if so, which ones are most critical?
- How many employers are using benefit administration systems and for which products are they being used?
- What are the preferred enrollment methods for the next voluntary benefits enrollment?
- What are the preferred methods to educate and communicate voluntary benefits?
- How many days prior to the enrollment are education and communication materials distributed?
View Table of Contents
1. Executive Summary
A. Key Findings
B. Eastbridge Recommendations
C. Study Objective
D. Methodology
2. Findings on All Employers
A. Overview
B. Benefit Changes
C. Benefits Offered
1. Employer-Paid Benefits
2. Employers Offering Voluntary
3. Top Voluntary Products Offered
4. Non-Traditional Voluntary Products
D. New Sales Product Potential
3. Quantitative Findings on Those Offering Voluntary Products
A. Overview
B. Reasons and Preferences for Offering Voluntary Products
1. Preference for Voluntary Product Offering Design
2. Preference for Number of Voluntary Products Offered at One Time
C. Voluntary Carriers
1. Choosing a Voluntary Carrier
2. Number of Voluntary Carriers Used
D. Other Coverages Provided from Brokers and Carriers
1. Other Coverages Provided by Voluntary Broker
2. Other Coverage with Voluntary Carriers
3. Number of Voluntary Products Offered
E. Enrollment, Education and Communication
1. Who Handled the Most Recent Voluntary Enrollment
2. Preference on Who Handles Future Voluntary Enrollments
3. Online Platform for Most Recent Enrollment
4. Preferred Enrollment Method
5. Enrollment Process and Platform Preference
6. Allowable Methods for Education and Communication of Voluntary Benefits
7. Preferred Methods for Education and Communication of Voluntary Benefits
8. Timeframe for Education and Communication Material Distribution
F. Administration Preferences and Benefit Administration Systems
1. Online Administration for Voluntary
2. Critical Online Services
3. Use of Benefit Administration Systems
4. Quantitative Findings on Those Not Offering Voluntary Products
A. Overview
B. Reasons for Not Offering
C. Reasons for Dropping Voluntary
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