Let's consider why new voluntary products come into the benefitsmarketplace, how they emerge and what might be around thecorner.
As to why they emerge, employees like being offered voluntaryproducts because they're convenient. The voluntary market is agreat distribution channel, because the typical shopping process isdisrupted. The process typically asks customers to take severalsteps in order to make a purchase. One model suggests they mustrecognize a need, search for information on possible solutions,evaluate alternatives, make a decision and purchase.
The typical insurance purchase process follows this model, withsome roadblocks. For example, many people deny the need forinsurance, or actively dislike it. People hate to even think aboutinsurance. If you want to be a pariah at a gathering, just telleveryone you are an insurance agent.
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