Experts at Eastbridge predict product innovation in the voluntary market will kick up in the next three to five years.
According to the Worksite Marketing: An Executive Perspective 2011 report, 40 percent of voluntary/worksite executives name product competition as a top obstacle for their business over the next few years.
Eastbridge reports health reform is setting the stage for carriers to come up with interesting solutions to employee and employer needs. Just what those new products will look like still remains to be seen but it will be "fun watching the process.
"Winning companies will carve out new premium opportunities. The pace of change will likely be fast so the successful carrier will need a product development process that is effective and efficient."
The survey is sent only to Chief Executive Officers, Chief Marketing Officers, and/or Chief Sales Officers in companies actively engaged in marketing worksite/voluntary products. The objective of the survey is to track the executives’ thoughts and insights on obstacles facing their company and the industry. It also explores the executives’ opinions on other topics based on market trends.
The Eastbridge report is available only to Eastbridge Information Partner companies as well as to participants. For more information on becoming a participant, contact the company at [email protected].
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