Underwriting Practices of Voluntary Carriers Spotlight™ Report
Cost: $3,500; published 2025
Underwriting practices for voluntary products continue to evolve as carriers strive to meet the increased service levels and quick turnaround times brokers, producers, employers and employees expect. The 2025 “Underwriting Practices of Voluntary Carriers”Spotlight™ Report provides data carriers can use to compare their voluntary underwriting practices with those of competitors active in the voluntary market. This report provides an overview of overall voluntary underwriting practices but not product-specific underwriting guidelines or information.
Some of the topics covered in the report include:
- Voluntary underwriting structure, organization and specialization
- Group-level underwriting practices
- Underwriter authority and exceptions process
- Use of census versus shelf rates
- Percentage of voluntary sales by type of underwriting
- Employee eligibility guidelines
- Participation requirements for guaranteed issue
- Process for coverage amounts above GI limits
- Renewal process and objectives
- Quoting/RFP process
- Underwriting time standards
- Voluntary underwriting concerns and future trends
View Table of Contents
1. Executive Summary
A. Report Objectives
B. Methodology
C. Key Findings
2. Findings by Carrier
A. Carrier Data
1. Product Platform Offered
2. Separate Voluntary/Worksite Underwriting Area
3. Underwriting Structure and Organization
4. Underwriting Specialization
B. Underwriting Practices
1. Group-Level Underwriting
2. Underwriter Authority
3. Exceptions Process
4. Use of Census vs. Shelf Rates
5. Use of Census vs. Shelf Rates by Product
6. Group Size Claims Data Required
7. Technology Funding
8. Experience Rating for Specific Loss Ratios
9. Percentage of Voluntary NBAP by Type of Underwriting
10. Minimum Case Size Accepted
11. Account Set-up or Implementation Unit
12. Employee Eligibility Guidelines
13. Spouse Coverage if Employee Not Eligible
14. Process for Coverage Amounts Above GI Limits
15. EOI/Medical and SI Underwriting
16. Underwriting Checks
17. Participation Requirements for Guaranteed Issue
18. Combined Participation Requirements
19. Participation Requirements Waivers
20. Guaranteed Issue Offer Differences
21. Actions When GI Participation Not Met
22. Renewal Process
23. Objectives of Renewal Process
24. Rate Increase Frequency
25. Results of Rate Increases
26. Across-the-Board Rate Increases
27. Use of APIs and AI in Underwriting
C. Quoting/RFP Process
1. Quote Initiation Process
2. Timeframe for Case Quote
3. Self-Quoting
4. Formal RFP Response Time
5. Decline-to-Quote and Close Rates
D. Underwriting Time Standards
1. Typical Turnaround Time for Case Approval/Disapproval
2. Hold Time for Pending Applications
3. Timeframe from Point of Application to Policy Issue
4. Timeframe to Issue a New Case
E. Voluntary Underwriting Concerns and Trends
1. Changes in Underwriting in the Last Five Years
2. Underwriting Concerns/Trends and Strategies
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Spotlight™ Report Index
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