Voya leans into workplace retirement and employee benefits as more Americans plan for longer lives, while it uses new tech and partnerships to make its services cheaper to run and easier for employers to stick with. The upside comes with real tension: pricing pressure, unpredictable health claims, and tough new digital rivals could blunt growth if execution slips.Read more
Voya Financial could get a lift as more workers are automatically enrolled in retirement plans and as employers look for more help with saving and benefits at work. The big swing factor is whether its employee benefits business can keep improving while demand for higher-fee private investment products stays strong.Read more
Voya’s employee benefits business leans on rising stop-loss prices and a calmer claims picture, but wider swings in medical costs and tougher competition could make that harder to pull off. At the same time, the company is spending to grow wealth management and counting on steady retirement and investment inflows, so a slowdown in client demand could leave profits more exposed than many expect.Read more
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Voya Financial, Inc. provides workplace benefits, and savings solutions and technologies in the United States and internationally. The company operates through three segments: Retirement, Investment Management and Employee Benefits. The Retirement segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees. This segment also provides wealth management services, such as individual retirement, managed, and brokerage accounts, as well as financial guidance and advisory services. This segment serves corporate, public and private school systems, higher education institutions, hospitals and healthcare facilities, other non-profit organizations, and state and local governments, as well as institutional clients and individual customers. The Employee Benefits segment offers various insurance products comprising stop loss, group life, group disability, whole and term life, critical illness, accident, and hospital indemnity insurance. This segment also provides worksite employee benefits, health account solutions, leave management, benefits administration, health plan enrollment, financial wellness, and decision support products and services to mid-size and large corporate employers and professional associations. The Investment Management segment provides fixed income, equity, multi-asset, and alternative products and solutions to individual investors, financial intermediaries, and institutional clients through its direct sales force, consultant channel, intermediary partners, banks, broker-dealers, and independent financial advisers. The company was formerly known as ING U.S., Inc. and changed its name to Voya Financial, Inc. in April 2014. Voya Financial, Inc. was founded in 1975 and is based in New York, New York.
