AVON, CONNECTICUT, USA (July 29, 2003)�In a recent study by Eastbridge Consulting Group, Inc., The Future of Worksite Marketing: An Executive Perspective, worksite marketing executives said they expect major changes to virtually all aspects of the worksite business over the next five years.
The report looks at the world of worksite marketing in five years from the perspective of those on the front line�worksite executives. “Worksite executives expect the worksite market of tomorrow to look very different from today’s market,” says Gil Lowerre, president of Eastbridge. “Executives foresee the biggest changes in the areas of distribution, new account sales, and enrollment,” added Lowerre, “but there were few areas that executives don’t see changing.”
“Indeed,” says Bonnie Brazzell of Eastbridge, “executives are bracing themselves for changes�both big and small�in all aspects of their business. If all the expected changes come about, the world of worksite will be quite different in 2008.”
Here are just some of the anticipated changes explored in the report:
- Different products than those we sell today
- Less one-on-one enrollment
- New and different distributors of voluntary/worksite products
- New value propositions to employers
- More regulations
- More use of the Internet
“But in spite of the expected changes, worksite executives are positive about the growth of the industry,” says Lowerre. “Most of the executives we spoke with expect to see the market continue to grow at minimum of 10-15 percent year over the next five years.”
Other items explored in the report include:
- The biggest obstacles faced by worksite marketers today
- Which obstacles marketers will tackle five years from now
- What is likely to change the most over the next five years
- The major competitors five years from now
- Which factors will distinguish the winners from the losers in the future
“We are pleased that worksite executives are thinking pro-actively about how the industry is going to change,” says Lowerre. “We think that it is important to think beyond the usual 1-2 year planning horizon. Companies should have a process for thinking out 5 or even 10 years to explore what changes could potentially impact their companies and the way they do business.”
“We believe you have to have a vision of the future and plan for the possible changes now, not when they get here,” says Brazzell. “We hope the report will encourage all carriers to develop their own view of the future of worksite marketing and craft their value propositions accordingly.”
Eastbridge Consulting Group, Inc., is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada. The report is available for purchase for just $750. For more information on this report click here or call 860-676-9633.
