Eastbridge research shows benefits enrollments continue trend toward digital options
Voluntary carriers still prefer in-person interaction to maximize participation
AVON, Conn., June 4, 2024 /PRNewswire/ — Online, self-service enrollments and virtual meetings are now the default enrollment methods for most voluntary carriers, according to a new Eastbridge Consulting Group study. Eastbridge’s “Enrollment and Technology Funding Practices of Voluntary Carriers” Spotlight™ Report shows most carriers continue to prefer some type of in-person interaction for voluntary enrollments, but say online self-enrollments — when paired with decision-support tools, videos and virtual or call center benefits counselors — can still deliver good customer experiences and improved participation results.
Eastbridge’s “Enrollment and Technology Funding Practices of Voluntary Carriers” report includes data collected in January and February 2024 from 29 carriers about their current voluntary enrollment methods and best practices, the technology platforms they use most frequently and their evolving approach to technology funding. Carriers can use this information to compare their enrollment and technology funding practices with competitors and determine ways to hone their strategies to remain competitive in the marketplace.
“The evolution of enrollment technology and the increasing challenges of accessing employees at the workplace makes it vital for voluntary carriers to have effective partnerships with technology companies,” said Ginger Bates, Eastbridge director of research. “Most carriers are continually expanding the number of technology platforms they partner with, since brokers or employers usually dictate the platform.”
Other key findings in the study include:
- Expanding the number of relationships and the depth of integration across all entities involved in the enrollment are key for carriers to streamline and simplify the enrollment process.
- Enrollment communication best practices typically involve multiple types and channels of communication beginning several weeks before and extending after the enrollment process.
- More than two-thirds of participating carriers say technology funding requests are increasing from both new and existing accounts.
Information about how to obtain a copy of the “Enrollment and Technology Funding Practices of Voluntary Carriers” Spotlight™ Report is available on Eastbridge’s website at https://www.eastbridge.com/Reports/Spotlight/Current/bp_enrollment-practices-vol-carriers.html. Email info@eastbridge.com or call (860) 676-9633 to learn more.
About Eastbridge Consulting Group
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada. Follow Eastbridge on LinkedIn at https://www.linkedin.com/company/eastbridge-consulting-group.
CONTACT: Ginger Bates
EMAIL: gbates@eastbridge.com
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SOURCE Eastbridge Consulting Group
