More companies are turning to the insights data analytics can provide to theirbusiness—and voluntary benefit manufacturers are no exception. Arecent Eastbridge survey on the topic revealed that 50 percent ofcarriers are currently using data analytics for at least some pieceof their voluntary business. Another 20 percent are planning toimplement analytics in the near future. These carriers are lookingto use this data to help them better understand customer needs,increase persistency and provide better customer service.

Although most carriers are drawing on data from their administrative systems, many are also miningdata from their billing and enrollment systems. Some are going sofar as to build small internal teams dedicated to this effort,while others have chosen to outsource this type of analysis.

Clearly, the era of big data is creeping into the voluntaryindustry, and for many carriers, this information has the potentialto pay big dividends. But as product manufacturers and othervoluntary players further invest in analytics, it's important notto be left behind and squeezed out of the information game. Brokerswho don't gain insights from their own data are likely to findcarriers knowing more about their business than they do.