What's trending? How can I cater my mindset to upcoming trends in the insurance industry?

The employee benefits industry experiences new trends every year. In order to optimize selling, you must assess new trends and incorporate them into your upcoming strategy. As a young professional starting out in this industry, it is important to utilize tools and information to contribute to benefits. Expected employee needs in 2025 include increased pay, improved benefits and flexible work schedules.

There are eight new trends emerging in the market to meet expected needs. 

• Affordability 

  • Rising healthcare costs are minimizing affordability and access to care people need. Preventative care is a common trend, but new, innovative ideas can arise to combat this problem. Offering different physical and mental health solutions, at a fair price, may help people receive care in the midst of raising costs.

• Personal well-being

  • Wellness is a huge focus, and a strong value for people today. Incorporate physical and mental health tools to contribute to the stride towards a healthier life.

• Flexibility

  • Schedule flexibility has been a common trend since 2020. Working closely with clients to address employees needs and how benefits can be catered towards this need for schedule flexibility.

• Development

  • With the new generation entering the workforce, putting effort into their professional development is important. Companies with a younger workforce must be conscious of the new needs their employees may be seeking.

• Personalized service

  • Relationship building is a crucial aspect of this industry, especially with clients. Every company, and its employees, has different needs – sometimes personalized offerings and engagement are important. Innovative ways to increase participation and engagement, or push enrollment in voluntary plans contributes to personalizing benefits.

• Family conscious

  • Be conscious of potential family benefits  needed – reproductive/fertility care, paternity leave, etc. Caters plans to relieve family stress when it comes to healthcare, finances, and overall support.

• Future financial security 

  • Finances are a huge stressor for a lot of people, and providing benefits to help ease this stress can contribute to sales. There is opportunity in retirement plans and debt pay off programs; student loan repayment programs may be a huge incentive for those enertating work postgrad.

• DEI programs

  • Continue embedding DEI programs  wherever you can in benefit programs. Fostering an inclusive and comfortable environment attracts talent and shows commitment to growth.

Being conscious of the trends, and what may come with them, will be beneficial when selling yourself and insurance to clients. There aren’t full solutions to meet each trend, but there is opportunity within each – create a mindset that is conscious of how these trends can emerge. Even though I may be selling insurance, I am also selling myself. As a young individual I look to those experienced in the industry to gain knowledge on the industry, and how I can be prepared for what’s to come. Staying informed on what’s happening in my industry is crucial to my ability to sell the service, and myself.