New Trustmark Survey Reveals Employers’ Top Priorities in Choosing Voluntary Benefits Carriers

Trustmark Voluntary Benefits, a national provider of individual and group financial protection products, including market-leading life insurance with long-term care options, recently released new survey research highlighting why employers select and retain a voluntary benefits carrier. The survey, conducted in conjunction with Hanover Research, included 219 respondents.

The data showed that of 15 attributes derived from qualitative research, ease of enrollment was the most important for employers, with ease of implementation the strongest performing attribute. 

“You can have many wonderful capabilities and product customization options, but what’s critically important for employers is ease of enrollment and implementation,” said Dan Schmid, VP, Sales, Trustmark Voluntary Benefits. “Most carriers have streamlined their implementation processes, but an educational and highly engaging enrollment experience is essential and should be a priority.”

Other important features included online administration for employers, carrier reputation for quality, ease of implementation, quality claims handling, ease of billing and high-quality education and communication materials for employees.

Surveyed employers were nearly evenly split on engaging an enrollment firm, with 48% using one. Regardless of enrollment firm usage, self-enrollment via a website or mobile device is the most popular option, with 70% of employers having employees apply for voluntary benefits online. However, 64% of employers have in-person meetings and 28% of employers use live call center support, and these may supplement online enrollments. 

The survey also found that the HR/Benefits Department’s opinion is crucial in deciding which benefits to offer and selecting a voluntary benefits carrier. Executive leadership and broker perspectives also play important roles in decision-making. 

Overall, the employers surveyed were more satisfied with Trustmark compared to other carriers across 11 of the 15 rated attributes, including their overall experience. 

“At Trustmark, we strive to provide an exemplary experience for employers and their employees,” said Jennifer Daniels, VP, Marketing. “While it is gratifying to see that our work is highly regarded by employers, we are always focused on continuous improvement.”

If you are interested in learning more about this recent research, we’re happy to share the findings from the Employer Research: Key Driver Analysis Report.