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Recent News
Carriers face a variety of obstacles in improving their conservation efforts, finds Eastbridge Consulting Group
Avon, Connecticut (February 18, 2021)
While the barriers to improving retention rates vary, the most significant current challenges mentioned by carriers in their efforts to conserve and retain their voluntary customers are COVID-19 driven increased utilization of remote communication methods as well as reduced employer and employee access, receptiveness, and opportunities for education.
Despite challenges, most carriers are planning improvements to their programs in the next one to three years. Some of the initiatives mentioned include...
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Our Most Recent Report
Voluntary Vision Products
Published 2021
The report examines the overall voluntary vision market and provides the product specifics for 12 voluntary vision products from 11 carriers as well as providing general information on carrier results, competitors, trends, and concerns regarding the market. In addition to the 11 participating carriers, three other carriers providing vision products are profiled in the last section of the report using secondary data.
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Recently Published Articles
Voluntary sales continue to grow, part 3
Plot Points, September 2020
THIS IS THE last in our series of columns on the voluntary industry sales results
for 2019. The first article looked at overall voluntary sales for the year, while the second reviewed sales by product line and platform. This column spotlights sales by distribution segment.
Voluntary sales continue to grow, part 2
Plot Points, August 2020
IN LAST MONTH’S column, we reported that voluntary new business annualized premium (sales) for 2019 was $8.832 billion, up 4.5% over 2018 sales. This article highlights sales by product line and platform.
Voluntary sales continue to grow
Plot Points, July 2020
ACCORDING TO OUR annual U.S. Voluntary/Worksite Sales Report, new business annualized premium (voluntary sales) increased again last year. Total sales for 2019 were $8.832 billion, up 4.5% over 2018 sales. The top graph below shows the industry’s sales since 1997.
COVID-19 expected to impact voluntary benefits
Plot Points, June 2020
AS COVID-19 CONTINUES to have far-reaching impacts on the workforce and in turn, the employee benefits landscape, brokers are concerned about the effects it will have on voluntary benefits. Eastbridge’s recent survey of brokers found that the top concern for voluntary was a potential for reduced enrollment volume, with 71% of brokers agreeing this was of concern. Around half of brokers expressed concern that employer and/or employee interest in voluntary may be reduced, while one-third felt that COVID-19 may divert their time towards answering coverage questions on existing business.
How “well” are wellness benefits?
Plot Points, May 2020
EMPLOYERS CONTINUE TO promote wellness programs and benefits as an integral part of their overall benefits strategies to encourage employees to adopt healthy behaviors and to reduce long-term health care costs. In addition to employee wellness programs (e.g., weight loss, tobacco-cessation), wellness benefits are commonly offered with today’s voluntary supplemental health products to encourage employees to receive preventative health screenings.
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