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The Future of Integrated Benefits

The Future of Integrated Benefits. Thomas Parry, Ph.D. President Integrated Benefits Institute. Today’s Discussion. How is the IB marketplace changing? Are employers and producers on the same page?. Integrated Benefits Institute. National Not-for-profit 165 members

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The Future of Integrated Benefits

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  1. The Future of Integrated Benefits Thomas Parry, Ph.D. President Integrated Benefits Institute

  2. Today’s Discussion • How is the IB marketplace changing? • Are employers and producers on the same page?

  3. Integrated Benefits Institute • National • Not-for-profit • 165 members • 70% employers

  4. IBI’s Board of Directors Aon Risk Services Bell Atlantic CIGNA General Re Hartford Ins. Hewlett-Packard MetLife Royal & SunAlliance Sedgwick CMS Shaw’s Supermarkets Towers Perrin ValueOptions Wells Fargo Bank

  5. Data-Driven • Surveys: ERs & Producers • Research • Health Plans — Disability Outcomes • Physician Incentives/Disincentives • Direct/Indirect costs of absence • Employer best practices • Benchmarking

  6. Focal Point • Annual meeting • Regional seminars • Member symposia • Web page/publications

  7. The Marketplace

  8. Marketplace Growth • 96 products/service providers • 27 new entrants since 1999 • 17 program withdrawals • Consulting/data services

  9. Occ — Non-Occ Products

  10. Non-Occ Products

  11. Are Employers and Producers on the Same Page?

  12. IB Surveys • 800 Employers • All sizes & industries • 700 Producers • Independent agents, national and regional brokers, consultants • Risk and benefits specialists

  13. Comparative Results • Level of interest • Integration demand • Advantages sought • Impediments expected • Future needs

  14. Interest in IB

  15. Interest by ER Size

  16. Employers Define IB

  17. Producers: “IB will play a major role in the future”

  18. Producers: “Clients want innovation”

  19. Producers: “I could sell proven products”

  20. Producers: “Too few proven products”

  21. Producers: “I have to get approval from the other side”

  22. Agents vs. Brokers

  23. Interest by Producer Client Size

  24. What’s Important to Employers • Overall cost savings — 89% • Productivity — 87% • Employee health & safety — 82% • Price/value — 79% • Administrative simplification — 78% • Integrated data — 78%

  25. Ranked Advantages— Employer View —

  26. Ranked Advantages-- Producer View --

  27. Large ER Product Demand

  28. Mid-Size ER Product Demand

  29. Employer Obstacles • Products • Employee satisfaction • Hesitancy • Leadership • Capital • Data

  30. Producer Obstacles • Turf • Employer understanding • Capital • Product • Hesitancy • Legal

  31. Employer Needs • Information • Savings • Price • Data • Products

  32. Producer Needs • Information • Products • Savings • Assistance • Presentations

  33. The Connections — and the Disconnects • Common optimism & interest level – Common understanding • Bad “fit” in desired programs? • Productivity vs. turf - or - process vs. product? • Price vs. program

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