According to the most recent report from Eastbridge Consulting Group, technology will provide the biggest challenge to voluntary benefits carriers over the next five years and be a key factor in driving competitive advantage.

According to the "The Voluntary/Worksite Market—An Executive Perspective 2023" SpotlightTM Report by Eastbridge, industry executives' top concerns include keeping up with new technology, the impact of benefit technology platforms on carrier selection, the need to upgrade administration systems, and declining profitability due to technology subsidies.

"Voluntary carriers are clearly focused on improving their technology, from streamlined processes to creating a better user experience to integrating artificial intelligence into their systems," said Nick Rockwell, president of Eastbridge. But many also keep telling us that the pressure on profitability is coming from rising demand for subsidies to pay for external technology platforms.

The report, "The Voluntary/Worksite Market—An Executive Perspective 2023," The SpotlightTM Report has been collecting executive views and opinions on market trends, industry challenges, and aspirations for the next 20 years. The research provides carriers with information they can utilise to refine their own picture of the future of worksite marketing and create their value propositions based on survey responses from 52 industry leaders from at least 28 organisations.

Other significant discoveries in the study include:

The "The Voluntary/Worksite Market—An Executive Perspective 2023" SpotlightTM Report is available for purchase on the Eastbridge website. Call (860) 676-9633 or send an email to [email protected] if you're interested.

Source prnewswire