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Voya Financial, Inc. (NYSE: VOYA) is a premier provider of retirement, investment, and insurance solutions, serving approximately 13 million individual and institutional customers across the United States. Headquartered in New York, Voya operates with a clear mission to secure financial futures through its diverse product offerings and dedicated service.
Voya Financial operates through three main segments: Wealth Solutions, Investment Management, and Health Solutions. The Wealth Solutions segment, which generates roughly half of the company's revenue, provides tax-advantaged retirement savings plans and individual retirement accounts tailored to meet the needs of various customer groups. Investment Management offers a range of asset management services, while Health Solutions provides group life insurance plans and employee benefit products.
Recently, Voya has been recognized for its advanced digital capabilities and commitment to enhancing customer experiences. The company has partnered with Oracle to leverage Oracle Database@Azure, ensuring secure, high-performance cloud services to its clients. This move underscores Voya’s dedication to technological advancement and customer-centric service delivery.
With a workforce of approximately 6,500 employees and a strong focus on corporate responsibility, Voya is deeply committed to helping individuals and institutions achieve better retirement readiness. The company's vision, encapsulated in its tagline “America’s Retirement Company™”, emphasizes guiding Americans towards financial stability and security, one person, one family, and one institution at a time.
For more information about Voya Financial, Inc., visit voya.com.
Voya Financial, Inc. (NYSE: VOYA) partnered with Greenwald Research to survey retirement plan decision-makers in higher education, revealing significant insights into the sector's challenges. Key findings show that 41% of institutions reduced employer matching contributions due to COVID-19, with 87% anticipating adverse effects on retirement readiness. Financial wellness programs are a priority, with 74% of institutions offering them, yet 51% seek further assistance from providers. The survey highlights a shift towards prioritizing employee retirement readiness and opportunities for consolidating plan providers.
Voya Financial (NYSE: VOYA) has announced the launch of its new advisor managed accounts advisory program in partnership with Morningstar Investment Management. This initiative aims to equip Registered Investment Advisors (RIAs) with resources to provide consistent investment advice to retirement plan participants. A recent Voya survey indicates that 76% of working Americans want professional guidance for their retirement savings. The program is expected to enhance financial wellness while generating new business opportunities for advisory firms.
Voya Financial (NYSE: VOYA) has launched Voya Claims 360, a streamlined model to enhance the claims process for supplemental health insurance. Designed to assist employees from enrollment to claim payment, this program proactively informs them of potential claim opportunities. Key features include Product-to-Product Claim Integration, upfront intuitive claims payment, and medical claims integration. Research indicates that around 70% of American workers value supplemental benefits, yet many overlook them, with only 10% having filed a claim. Voya aims to improve employee engagement and satisfaction through this initiative.
Voya Financial, Inc. (NYSE: VOYA) has announced updates to its operating model and leadership to enhance its workplace and institutional client strategy. CEO Rodney O. Martin, Jr. highlighted the company's strong momentum and opportunities for growth through integrated solutions in health, wealth, and investment sectors. Key leadership changes include Michael Smith as vice chairman and new CEOs for Wealth and Health Solutions: Heather Lavallee and Robert Grubka. Voya aims to leverage its capabilities to meet evolving customer needs, serving approximately 14.8 million clients and $700 billion in assets under management.
Voya Financial, Inc. (NYSE: VOYA) announced a new collaboration between Voya Foundation and Teach For America aimed at increasing diversity in the educator workforce. This initiative will focus on recruiting from historically Black colleges and universities (HBCUs), particularly targeting STEM students. Voya's partnership will enhance Teach For America's recruitment efforts and offer support to potential applicants. Voya Foundation's mission includes improving quality of life in communities through financial literacy and education initiatives. This effort aligns with Voya's commitment to diversity, equity, and inclusion.
Voya Financial, Inc. (NYSE: VOYA) has entered a strategic relationship with Millennium Trust Company to offer Emergency Savings fund solutions to workplace clients. This initiative aims to support employees in saving for unexpected events while enhancing their overall financial wellness. Research indicates that 53% of Americans are more inclined to save for emergencies in 2021 compared to 2020. The program includes payroll deduction options, employer contributions, and an administrative portal for easy management. Voya emphasizes the importance of emergency savings in retirement planning.
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