Roundtable Speakers:

• Trevor Garbers, Co-Founder Voluntary Advantage
• Christin Kuretich, VP of Supplemental Products, Voya Financial
• Ben Yomtoob, Founder and Lead Consultant, BuckleyRoberts
• Jake Aldrich, Sales Director, SAVVI Financial

The roundtable discussion focuses on the evolving landscape of voluntary benefits, emphasizing the shift toward personalized employee experiences, data-driven strategies, and the integration of technology.

Key Trends for 2026 and Beyond

• Financial Concerns and Personalized Guidance: There is an overwhelming concern about affordability due to inflation and a rapidly changing environment. As a result, almost 80% of employees want specific, personalized guidance, not generic education, realizing that a one-size-fits-all benefits package is not appropriate.
• The Consumer Experience: Employees expect their benefits experience to be as targeted and seamless as their everyday consumer interactions, such as shopping on Amazon or Instagram.
• Shift to Transformational Strategy: The industry is moving from a transactional model to a transformational one, with a focus on "member experience" and showing value. Conversations with employers now revolve around "health-related themes" and employee experiences (like mental health and infertility), rather than just product features.
• Late Decisions and Strong Enrollment: The biggest trend seen was a greater number of late decisions from groups, yet enrollment results were surprisingly strong on a per-group basis.

Adoption and Utilization

• Year-Round Engagement: For benefits to matter more, utilization and discussion must become an ongoing part of the daily workflow, rather than just a "large singular dramatic event" like open enrollment.
• Data and Value: Quick access to data (monthly or quarterly, rather than the previous 3 to 6 months) is critical to support this year-round experience and prove a return on investment (ROI) to the employer.
• Holistic Financial View: The industry needs to connect benefits enrollment to retirement savings, as 30% of hardship withdrawals from Voya retirement funds are for health-related expenses. A holistic view is essential because all coverage comes from the employee’s overall finances.
• Decision Support Results: The VoyaSAVVI decision support tool (called myVoyage) has shown significant adoption in self-service environments, with a close rate trending around 9.5%. Those who used the tool chose the high deductible health plan option 68% of the time, and nearly 20% decided to boost their retirement savings rate.
• Loss Ratio: To drive value, carriers must focus on product utilization to meet the industry-standard 50% loss ratio (the portion of premium paid back in claims). The value-add features are becoming a critical factor in final client presentations.
• Shift from Commission Focus: The benefits strategy is moving away from a purely commissions-driven approach to one that prioritizes the employee’s needs and affordability, backed by data.

Technology and the Future

• Pace of Innovation: The insurance industry is estimated to be 15 to 20 years behind in technology. Adoption of AI is expected to be an equalizer, allowing carriers to improve results quickly.
• Surveyless Decision Support: SAVVI has introduced a "surveyless" tool that removes the need for employees to fill out initial survey questions by ingesting data upfront. This process allows an employee to receive trusted guidance and an action plan in as little as 60 seconds.
• AI as a Competitor: Generic large language models like Chat GPT are an unintended competitor, as employees are using them for benefits guidance with poor results (e.g., one anecdote showed Chat GPT was wrong 75% of the time).
• High-Tech, High-Touch Culture: The goal is to use technology to automate the administrative tasks, freeing up human workers to focus on high-value, person-centric work. Ultimately, this leads to a "culture of employee care," which correlates with greater business success.

Watch on Demand NOW: https://vimeo.com/1145054456?share=copy&fl=sv&fe=ci

Want to understand how these insights translate into better decisions, and measurable ROI, for your organization?

Click here to connect with Jake Aldrich, Director of Sales, and explore how to transform your enrollment experience with data-driven financial guidance.

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