Carriers are getting ready to tout their voluntary products to consumers who shop on new, private exchanges.
According to Eastbridge Consulting Group, a whopping 90 percent of carriers say they’re planning on offering their voluntary products through a private exchange.
Eastbridge reported this week that those carriers are either still developing their strategy or planning to work with carriers, brokers/consultants, or technology vendors to craft their solution.
See also: Insurers flock to private exchanges
Carriers that already have a strategy in place were evenly split among using a single-company or multiple-company private exchange approach, or a combination of both types, Eastbridge’s report found.
Consumers shopping for products on a private exchange may most likely see voluntary life, critical illness, accident and short-term disability on the menu of options. Those are the voluntary products most frequently mentioned by carriers, Eastbridge reported.