Skip to content

Think Fast: Behavioral Economics and Benefits Messaging

Kimberly A. Landry 3/31/2023

Learn how principles from behavioral economics can influence employees' decisions to enroll in workplace benefits.

Summary

Many employees choose not to enroll in nonmedical workplace benefits when given the opportunity, and often spend only a few minutes making enrollment decisions. How can benefits providers help employees make better decisions when they pay so little attention to their benefits?  

The field of behavioral economics has identified a variety of mental shortcuts and biases that influence people's decisions when they are "thinking fast," such as anchoring, storytelling, social norms, default bias, information overload, and decision fatigue. This research explores how behavioral economic principles can be incorporated into benefits messaging to help employees make better enrollment decisions. Results are based on an online study of 2,408 U.S. employees conducted in fall 2022.

Download Your Reports

No part of any report may be reproduced or translated without written permission from LIMRA. Please contact Customer Service for further information.

Related Research

2022 BEAT Study: Benefits and Employee Attitude Tracker

Learn about current employee attitudes towards work in general and workplace benefits in particular.

The Mysteries of Life: Life Insurance Ownership and Behavioral Economics (2016)

What messages might motivate more people to shop for life insurance? LIMRA put several to the test.

Financial Wellness Series

LIMRA Financial Wellness Index®: Understanding Wellness, Stress, and Stability The 2026 LIMRA Financial Wellness Index® reveals why modest improvements in financial wellness have not translated into everyday relief—and what that means for employers, providers, and consumers.

2025 Canadian Employers Survey

As employer benefit strategies evolve, understanding what’s working, and what’s next, is essential. This research analyzes group benefits penetration across Canadian employers, evaluates the value of consolidating retirement and insurance offerings under one carrier, and measures interest in ancillary services designed to enhance employee well-being and engagement. Benefits Strategy and Design: An In-Depth Look just added.

DC Advisor Views: PEPs Update

Since 2021, a new construct has been available to employers who want to sponsor a workplace retirement savings program but may be reluctant to take on the role of an active plan sponsor: the Pooled Employer Plan (PEP).This research explores advisor assessment – and actions – relative to PEP plans and opportunities.

Meet the Project Director

Kimberly A. Landry
Kim conducts quantitative and qualitative research on hot topics within the employee benefits industry, with a specific focus on employer and employee perspectives. She is also responsible for LIMRA’s worksite and supplemental health research programs. She is a frequent speaker at industry conferences and events. Kim joined LIMRA in 2008. She received her bachelor's degree from Wesleyan University and her master's degree from the University of Hartford.

Associate Research Director, Workplace Benefits Research
LIMRA and LOMA
klandry@limra.com


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

You May Also Like...

LIMRA Data Exchange (LDEx) Standards

Making the process faster with standards. The LIMRA Data Exchange (LDEx) Standards are for insurance carriers and benefits administration technology companies looking to reduce errors, improve customer experience, and increase speed to market.

2023 Workplace Benefits Conference

The former Group & Worksite Benefits Conference has evolved and been renamed the Workplace Benefits Conference. This is where you will hear about key topics in the benefits space. Companies now have a more market-driven outlook. They are adapting to the changing landscape of work, and to employees’ needs and expectations.

Custom Research and Consulting

Research tailored to your individual business needs.

Did you accomplish the goal of your visit to our site?

Yes No