BIGGEST IMPEDIMENT TO GROWTHBIGGEST IMPEDIMENT TO GROWTH WHAT LACK OF GROWTH ISSUESARE YOU EXPERIENCING?WHAT LACK OF GROWTH ISSUESARE YOU EXPERIENCING?WHAT LACK OF GROWTH ISSUESARE YOU EXPERIENCING?(Of those who answered, they were experiencing a lack of growth)

(Of those who answered, they were experiencing a lack of growth)

DIFFICULTY REACHINGNEW MARKETS 22%

INTERNALMISALIGNMENT 9.3%

LACK OF MARKETINGSTRATEGY 6.9%

NO GROWTHPLAN 4.2%

INDUSTRY/REGULATORY 3.4%

8%

LACK OF INTERNALRESOURCES OR EXPERTISE 13%

TECHNOLOGY 12.11%

BUDGET 11%

PRODUCT ISSUESe.g., not enough, no innovation,

need for di�erent

29%DECREASING

REVENUE

24%UNCOMPETITIVE

PRODUCTS/SERVICES

20%DIMINISHING

MARKET SHARE19%LOW PRODUCT

UTILIZATION

24%STAGNANT OR

DECLININGMEMBERSHIP

�p:�p:Consider tapping into the experience and talents of an outsource partner. This could speed up your time to launch and help you enter new markets and channels. It can also help your business increase revenue!

are using multiple internal systems to enroll and administer di�erent benefit o�erings or products.

would find it beneficial to bundle benefit o�erings or products on one platform.

would find it beneficial to add products from other providers to their current mix of products or benefit o�erings.

Consider consolidating your products onto one enrollment platform. This would allow you to add or remove products when needed as well as deliver a streamlined enrollment experience to your clients and customers.

�p:�p:

of those who have attempted to launch a benefit o�ering of product have not launched or launched unsuccessfully.32%

PRODUCTS THAT HAVE NOT LAUNCHED OR LAUNCHED UNSUCCESSFULLY

HURDLES IN BRINGING A BENEFIT OFFERING OR PRODUCT TO MARKET

HEALTHBENEFITS

26%26%

23%23%

5%5% 5%5% 3.5%3.5%

9%9%

ID THEFTDISABILITYPROPERTYOR LIABILITY INSURANCE

EXCHANGE OR BENEFITS

MARKETPLACE

LIFE

ADMINISTRATION ISSUES(enrollment, billing, customer support)

29%

MARKETING COMMSTRATEGY

27%

SPEED TO MARKET

34%

USER EXPERIENCE

22%

ONLINE ENROLLMENTDIFFICULTY

19%

?

MOBILECAPABILITY

18%

WEB DESIGN

11%

�p:�p:

WHILE

27

percent say they need help with their digital marketing and communication of those products.

to develop awareness of the product prior to launch and an enrollment

email and content marketing campaign to help drive enrollment

once it’s brought to market.

percent believe the lack of a marketing comm. strategy was a hurdle to bringing a benefit o�ering or product to market.

ONLY

14.5

Focusing on aFocusing on a

WHAT WE FOUND

BIGGEST CHALLENGESin the

THE RESULTS ARE IN AND HERE’S WHAT THEY SAID…

We surveyed industry professionals about the biggest challenges they faced. We wanted to knowwhat issues might be hindering growth and if there was anything we could do to help. 300+

• INSURANCE BROKERS• MANAGING GENERAL AGENTS & UNDERWRITERS• BENEFIT PROVIDERS• INSURANCE CARRIERS/MANUFACTURERS

PARTICIPANTS COMPANY SIZE BREAKDOWN34.18% 10 - 99

EMPLOYEES

26.27% 500 OR MOREEMPLOYEES

24.68% 1 - 9EMPLOYEES

14.87% 100 - 499EMPLOYEES

Find out how we can help your business grow by visiting www.geniusavenue.com

benefit providers, carriers, and MG/MGUs launch and manage their benefit o�erings.

GENIUS AVENUE HELPS