The group insurance segment is heavily dominated by employer sponsored insurance (ESI) — insurance that is paid for by a business on behalf of their employee as part of a benefit package.
In many cases, employees do not have an alternate option and are rarely involved in the buying process, as this is decided by an HR professional. There is an underlying issue in which this traditional mode disregards the consumer's buying experience and, by extension, their engagement or service satisfaction — but this is changing.
The group benefits and voluntary insurance industry has traditionally focused on serving intermediaries such as brokers and HR/benefit specialists, rather than the consumers. It is no surprise that the digital phenomenon has focused more on increased automation and cost reduction, rather than customer-centric disruption widely visible in every other industry.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
