Administrative Practices of Voluntary Carriers

Cost: $2,500; published 2019

Excellence in the administration of voluntary products is essential for any carrier to be competitive and have longevity in the voluntary/worksite marketplace. Even though quality and reliability in all areas are needed, brokers and employers must have confidence in carriers’ ability to administer and service the products sold to employees for carriers to create and grow their market share.

The purpose of the Administrative Practices of Voluntary Carriers Spotlightâ„¢ Report is to provide detailed information on key carrier administration practices including:

  • Administration structure and capabilities
  • Policy issue
  • Service capabilities for administrators, employers and employees
  • Voluntary administration obstacles and future trends

With this information, carriers can compare their own voluntary administration practices with the competition and determine changes needed to remain up to date on key service and administration trends.

View Table of Contents

1. Executive Summary

A. Report Objectives

B. Methodology

C. Key Findings

D. Recommendations

2. Detailed Carrier Findings

A. Carrier Information

1. Organization of Administrative Functions

2. Separate Voluntary Administration/Operations Area

3. Current Administrative Platform/System

4. Single or Multiple Administrative Systems

5. Individual Records

6. Voluntary Percentage of Non-Medical Group Business

B. Policy Issue

1. Policy Forms (Group Only)

2. Customized Employee Materials (Group Only)

3. Time Standards for Policy Issue (Group Only)

4. Time Standards for Policy Issue (Individual Only)

5. Coverage Increases and Decreases (Individual Only)

6. Policy/Certificate Delivery

C. Client and Policyowner Service

1. Call Center Services Capabilities

2. Call Center Transactions

3. Call Center Time Standards

4. Other Call Center Services Offered

5. Percentage of Calls by Customer

6. Telephone Requests for Policy Loans/Surrenders

7. Service Model for Benefit Administrators

8. Performance Guarantees

9. Types of Reports for Plan Administrators

10. Online Services for Plan Administrators

11. Usage of Online Plan Administrator Services

12. Online Services for Employees

13. Mobile/Web Self-Service Employee Application

14. Bilingual Policyowner Services

15. Service for Multiple Product Ownership

D. Future Trends

1. Use of Existing Benefits Administration (Ben Admin) Systems for Voluntary

2. Future Administration and Service Trends


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Spotlight Report Index