AVON, CONNECTICUT, USA (July 12, 2005)-Since the introduction of worksite critical illness products in the mid to late 1990s, there have been a number of new players. Our 2000 critical illness study profiled a number of carriers, most of which had been in the market 18 months or less. Since that time, several of these companies have discontinued marketing a worksite critical illness product but new carriers have replaced them. In a 2004 study on product trends, 66 percent of the surveyed worksite/voluntary carriers offered a critical illness plan at that time and another 28 percent said they are likely to do so in the next 2 years.
Eastbridge�s latest spotlight report, Worksite Critical Illness Products-2005, examines today�s critical illness market and identifies the market�s top players and competitors. The report then takes a close look at the voluntary critical illness product of 17 carriers.
The report is divided into three sections. The first section provides an overview of the report�s structure, along with key findings and recommendations.
The second section presents the current state of the critical illness market and provides general information on each carrier�s results, competitors, persistency, penetration, product success factors, etc.
The third section examines the practices of 17 critical illness providers, including:
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Product structure
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Underwriting parameters
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Costs
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Sales and enrollment protocol
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Distribution and commissions
Other data (e.g.: Section 125 use, future outlook, concerns about product, etc.) The data is designed to help insurance carriers better understand where their product �fits� relative to the competition and whether they need to refine and/or enhance their critical illness product accordingly. [Note: In order to protect the confidentiality of the carriers profiled, all data is reported anonymously by assigning each carrier a random number.]
The report contains over 95 pages of �critical� data and is available for purchase for $2,500. Click here to view more information about the report, including the table of contents on the Eastbridge website. To purchase the report, e-mail us at [email protected].
Eastbridge Consulting Group, Inc., is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.
For more on Eastbridge visit www.eastbridge.com.
