Understanding the approach and the performance of the leading carriers in the voluntary benefits market, along with key market trends in light of the COVID-19 pandemic, is critical for success now more than ever. Eastbridge’s recently published Voluntary/Worksite Marketing Industry Snapshot and Competitor Profiles Spotlight™ Report provides these market insights along with company profiles of the top ten carriers in the market.
This report examines the voluntary/worksite marketplace; specifically, annual sales, inforce premium, leading players, products trends, and distribution channels. In addition, the report provides a competitive analysis on the top 10 voluntary/worksite marketing players.
AS COVID-19 CONTINUES to change the benefits landscape, employers anticipate continuing to make changes to their benefits packages. Eastbridge research found that, as a result of COVID-19 changes, almost a third of employers—a percentage similar to that reported in 2018—are planning to add new voluntary benefits and/or move employer-paid products to voluntary this year.
PARTICIPATION RATES FOR voluntary Most important factors limiting participation products have been stable in 2020, according to a survey of voluntary carriers. And although this survey preceded the results of the fourth quarter of 2020, the findings are still useful.