Market Insights

Special Report
The demand for voluntary benefits has been growing for years, but COVID-19 and the events of the past year provided clear evidence that employees need more access to diverse benefits options. While a growing number of employers and benefits advisors have tested the waters of voluntary benefits in recent years, we're now entering an era where truly customized benefits packages are a must for employers who want to remain competitive.
These voluntary benefits programs, however, have underlying costs to employers, including those related to implementation and administration. Digital tools can help employers reduce these costs by simplifying operations and improving efficiency.
Related: Voluntary products and processes
A LIMRA survey looked at how employers are using digital tools to implement and administer voluntary benefits. When it comes to employers, 93% report access to a digital tool for online billing (most often available digital tool). The ability to file bulk wellness claims is the least used digital tool, though 71% of employers report access to this capability.
Already have an account? Sign In Now
Copyright © 2023 ALM Global, LLC. All Rights Reserved.