Ron Neyer, M.B.A., AIRC, CLU, ChFC 10/28/2020
How do employers evaluate voluntary benefits carriers? Which general and specific considerations do they consider most important?
Employers, at a high level, focus most on cost and features during carrier selection for voluntary benefits. They are not necessarily seeking out the lowest price point, however. Finding a good combination of price and product design is more essential than identifying the carrier with the least expensive plan. With employers often expressing that many considerations are important to them when choosing a carrier, it becomes difficult to discern the truly critical items. However, best value is cited as crucial significantly more often than any other factor.
What do employers want from their voluntary benefits carriers?
Neyer’s area of expertise is monitoring and communicating trends in workplace insurance distribution. He manages benchmarking and carrier practice studies, as well as research projects focusing on employers, employees, and brokers/advisors. Neyer is a frequent author and presenter for industry publications and events, where he shares research-based insights. He manages LIMRA’s Account Management and Workplace Benefits Competitive Intelligence Study Groups and has served on committees for both the Voluntary Employee Benefit Board and the Voluntary Benefits Forum. He joined LIMRA in 1998 and received his bachelor’s degree and M.B.A. from the University of Connecticut.
Associate Research Director, Workplace Benefits Research
LIMRA and LOMA
Rneyer@limra.com