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Discover specialized market research to support your product strategies
Milliman Supplemental and Specialty Research
It is difficult to collect the market and competitive information needed to minimize the cost and risk of creating new products, particularly for specialty and supplemental insurance products.
Milliman delivers comprehensive reports based on custom quantitative and qualitative research with key stakeholders in the supplemental and specialty markets. Featuring data-driven insights and commentary from Milliman expert consultants, these reports inform your development of competitive products, meet compliance requirements, and facilitate risk management. Our research encompasses Voluntary Benefits, Small and Large Group Products, and other supplemental products.
Our reports cover a wide range of supplemental products, providing you with unrivaled data and market perspectives.
We conducted our annual State of the Supplemental Market survey in January 2022. In total, 55 carriers provided sales and inforce data for 18 products across the supplemental insurance industry. Moreover, we conducted a variety of research projects throughout the year to offer insights into specific products of the supplemental insurance market, including Accident, Critical Illness, Hospital Indemnity, Dental, and Worksite Life insurance. We synthesized the findings from each of these reports to create a comprehensive overview that demonstrates a valuable perspective of how these products fit into the larger arena of the supplemental insurance market.
Authors: David Bahlinger, Ashlee Borcan, Darrell Spell, Michael Weilant
In early 2022, we collaborated with NASBI to conduct our State of the Supplemental Market Survey. This survey provides insight into the financial impacts of the pandemic on the supplemental market. Data was collected on 18 products and covers topics such as sales and inforce, product development, industry themes and risks in the market.
Authors: Ashlee Borcan, Robert Eaton, Jennifer Howard, Bill Mehilos, Nate Sandrowicz, David Bahlinger, Darrell Spell, Michael Weilant
This report compares Accident Indemnity and Accident Medical Expense data across group, individual worksite, and individual non-worksite products. It also provides data on sales and inforce, product profile, product features, profitability, commissions, enrollment and portability, claims, risks, and administrative technology and systems. The Premium Report features an executive summary, comprehensive data analysis, trending, and extensive actuarial commentary provided by our consulting team. In addition, commentary from several brokers and carriers on important topics collected from several focus groups.
Authors: Ashlee Borcan, David Bahlinger, Christin Kuretich, Nate Sandrowicz, Darrell Spell, Michael Weilant
Our CI report compares data across group, individual worksite, and individual non-worksite products, exploring sales and actuarial components of the CI market. It also provides data on sales and inforce, product profile, product features, commissions, lapse rates, enrollment and portability, profitability, risks, and administrative technology and systems. The Premium Report features an executive summary, comprehensive data analysis, trending, and extensive actuarial commentary provided by our consulting team. In addition, commentary from several brokers and carriers on important topics collected from several focus groups.
Authors: Ashlee Borcan, Jennifer Howard, David Bahlinger, Christin Kuretich, Darrell Spell, Michael Weilant
The HI report compares data across group, individual worksite, and individual non-worksite products, exploring sales and actuarial components of the HI market. It also provides data on sales and inforce, product profile, product features, commissions, pricing, profitability, risks, and administrative technology and systems. The Premium Report features an executive summary, comprehensive data analysis, trending, and extensive actuarial commentary provided by our consulting team.
The Worksite Life report focuses on Term, Whole Life, and Universal Life products. It provides data on sales and inforce, sample premium amounts, product features, underwriting, third-party data, profitability, risks, riders, and market topics. The Premium Report features an executive summary, comprehensive data analysis, trending, and extensive actuarial commentary provided by our consulting team.
Authors: Bill Mehilos, Robert Eaton, David Bahlinger, Christin Kuretich, Darrell Spell, Michael Weilant
Our Dental report focuses on commercial dental products and information on top-line sales and inforce data. In addition, the report takes a deeper look at pricing, risks, network, and underwriting. This data is segmented by individual, small group, and large group, as well as PPO and HMO/POS, and synthesized to provide a high-level analysis of key market trends.
Authors: Joanne Fontana, David Bahlinger, Darrell Spell, Michael Weilant
The Short-Term Care report sheds light on the current practices and experiences of the nearly all the remaining carriers in the STC market. It covers product types, marketing, sales and inforce, underwriting, regulations, actuarial, and claims.
Authors: Robert Eaton, David Bahlinger, Darrell Spell, Michael Weilant
The Compliance report delves into common and state-specific regulations for supplemental health insurance including accident, critical illness, and hospital indemnity products. It includes expert commentary on Milliman’s experience and observed trends.
Authors: Stacy Koron, Taylor McKinnon, David Bahlinger, Darrell Spell, Michael Weilant
This Pet Insurance report provides a summary of respondents' thoughts on demand, target markets, obstacles, interest, and market entry methods. Finally, participants shared what other information would be helpful on this topic.
Authors: David Bahlinger, Stacy Koron, Christin Kuretich, Jamie Shooks, Michael Weilant
Get a handle on the complexity of estimating healthcare financial risk with the industry's leading actuarial services firm.
Make the right decisions when it comes time to enter a new market, launch a new product, or change benefits.
Deliver sophisticated and progressive insurance products at reasonable cost with the help of our data, analytics, and consulting expertise.
Whether you’re offering limited benefit medical, cancer, accident, critical illness or combination life and health products, Milliman has the specialized knowledge and data you need to be successful.
Improve risk selection, pricing, and profitability with comprehensive underwriting services and data.
Innovation is not a skill, but a mindset that requires certain skills, according to interviews and focus groups with actuaries and firms doing the innovating.
The life insurance industry certainly has seen an increase in technologically savvy InsurTech companies joining its ranks.
Learn about five trends and creative approaches heading into 2022 for supplemental health benefits, on this episode of Critical Point.
Insurers start to target pet insurance due to high growth and the perception that it remains an untapped market.
Three key questions to identify what your strategy—or plan of action—should look like with your voluntary benefits plans
Our report on the supplement market shows the effects of COVID-19: Inforce premium rose only 1.2% to $62 billion in 2020 from 2019, but still a positive sign.
In 2019, Milliman conducted a variety of research projects to provide insight into the state of the U.S. supplemental insurance market.
How can insurers leverage these breakthroughs to address unmet consumer demand, successfully launch new insurance products, and drive down costs?
Data is a key component when you are attempting to identify opportunities and quantify the impact of innovative ideas.
For insurers, innovation is a key factor to increasing market share and improving customer retention.
Because insurance regulation moves slowly and innovation moves fast, a more flexible framework is needed for insurers to rapidly bring innovative products and services to market.
Small companies in the supplemental health products market need to understand the unique challenges these products present in order to compete effectively.
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Milliman received responses from 30 carriers for the follow-up Milli-Byte…
State Departments of Insurance have issued special rules, regulations, and…
This report presents the results of Milliman's survey of long-term care (LTC)…
Ask the tough questions. We’re ready for them.