AVON, CONNECTICUT, USA (August 22, 2006)-According to a 2006 Eastbridge study on worksite sales, voluntary vision sales, albeit small at $15 million, showed a solid increase in 2005 (a 46 percent increase). The percentage of voluntary carriers offering a vision product has increased from 22 percent in 2002 to 31 percent in 2006, as per another Eastbridge study on product trends. Another 27 percent of carriers say they are likely to introduce a vision product in the next few years.
In light of these findings, Eastbridge Consulting Group further examined this market from the perspective of some of the top voluntary vision providers. The study, Voluntary Vision Products, begins with a brief profile of the carriers/ providers surveyed. Then it takes a close look at the voluntary vision products of each participant, including product features, provider networks, underwriting, costs, commissions, and sales/enrollment. It also gives the providers/carriers� predictions for the future of voluntary vision insurance.
Here�s a glimpse at some of the study findings:
-
Most providers sell a group product on an insured basis. Most also use PPO networks.
-
For most providers, the employer defines the plan benefits (including frequencies, co-pays, and coverage levels).
-
About half of the providers prefer to sell their voluntary vision plan as a standalone product while the other half prefer to package the product.Those that package their vision usually do so with dental or medical.
The report is now available for purchase for just $1,000. Click here to view more information about the report, including the table of contents. To purchase the report, e-mail us at [email protected] or phone (860) 676-9633.
About Eastbridge Consulting Group, Inc.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada. Visit www.eastbridge.com
