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Harnessing Growth and Seizing Opportunity: The Future of Workforce Benefits

Patrick T. Leary, M.B.A., LLIF; Kimberly A. Landry; Ron Neyer, M.B.A., AIRC, CLU, ChFC 4/18/2022

LIMRA and EY partnered to explore how key stakeholders (employers, employees, benefit brokers, and benefit technology providers) are responding to the transformational changes impacting the workplace benefits marketplace.

Summary

The workplace benefits marketplace continues to change on a transformational scale and at an accelerated pace, thanks in part to the widespread disruption of the working world since 2020, the rise of nontraditional workers, and the growing demand for new types of benefits. In summer 2021, LIMRA and EY joined forces to identify the most important changes that will shape the workplace benefits market over the next five years. Through a mix of quantitative and qualitative research, we surveyed over 800 employers and over 1,200 employees, and interviewed 25 brokers and 18 benefit technology providers. This research explored:

  • The changing needs of employers and employees
  • The evolving role of distributors, technology companies, and other third parties
  • How carriers can refine their value propositions and offerings to remain relevant and continue growth
  • Changing technology requirements and opportunities to digitize and automate key processes across different stakeholders
  • Workforce and employer expectations for a fully digital experience across the value chain

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Meet the Project Director

Patrick T. Leary, M.B.A., LLIF

Patrick T. Leary, M.B.A., LLIF, is corporate vice president, workplace benefits research for LIMRA and LOMA. In this role, Pat leads a team of workplace benefits professionals responsible for conducting research on the products, markets, and distribution of a wide range of life, health, and related employee benefits.

Before assuming his current position, Pat directed LIMRA and LOMA’s distribution research program and, prior to that, was a member of LIMRA and LOMA’s group insurance research team.

Pat joined LIMRA and LOMA in 1989. He earned his bachelor’s degree from Hartwick College and his M.B.A. from the University of Connecticut. Pat also earned his LIMRA and LOMA Leadership Institute Fellow (LLIF) designation in 2012.

Corporate Vice President and Director, Workplace Benefits Research
LIMRA and LOMA
pleary@limra.com


For more information, please contact pleary@limra.com.

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