Voya Financial, Inc. (VOYA): Business Model Canvas

In der dynamischen Welt der Finanzdienstleistungen zeichnet sich Voya Financial, Inc. (VOYA) als transformative Kraft aus und bietet innovative Altersvorsorgelösungen und umfassende Finanzstrategien, die über traditionelle Grenzen hinausgehen. Durch die nahtlose Integration modernster Technologie, personalisierter Beratungsdienste und eines ganzheitlichen Ansatzes für finanzielles Wohlbefinden hat Voya ein einzigartiges Geschäftsmodell entwickelt, das den komplexen Bedürfnissen moderner Anleger in verschiedenen Marktsegmenten gerecht wird. Diese Untersuchung des Business Model Canvas von Voya enthüllt die komplizierten Mechanismen, die ihren Erfolg vorantreiben, und zeigt, wie strategische Partnerschaften, digitale Innovation und kundenorientierte Lösungen sie als führenden Akteur in der wettbewerbsintensiven Finanzdienstleistungslandschaft positioniert haben.

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit Finanzberatern und Institutionen

Voya Financial unterhält strategische Partnerschaften mit rund 10.000 unabhängigen Finanzberatern in den gesamten Vereinigten Staaten. Ab 2023 erwirtschaften diese Partnerschaften schätzungsweise 2,3 Milliarden US-Dollar an Beratungseinnahmen.

Partnertyp	Anzahl der Partner	Jährlicher Umsatzbeitrag
Unabhängige Finanzberater	10,000	2,3 Milliarden US-Dollar
Institutionelle Finanzpartner	350	1,7 Milliarden US-Dollar

Partnerschaften mit Technologieanbietern für digitale Plattformen

Voya arbeitet mit führenden Technologieanbietern zusammen, um die digitalen Servicefunktionen zu verbessern.

• Salesforce für das Kundenbeziehungsmanagement
• Microsoft Azure für Cloud-Infrastruktur
• IBM für Cybersicherheitslösungen

Technologiepartner	Service bereitgestellt	Jährliche Investition
Salesforce	CRM-Plattform	12,5 Millionen US-Dollar
Microsoft Azure	Cloud-Infrastruktur	8,3 Millionen US-Dollar

Zusammenarbeit mit Arbeitgebern für Dienstleistungen zur Altersvorsorge

Voya betreut rund 57.000 Firmenkunden mit Altersvorsorgedienstleistungen. Das gesamte verwaltete Vermögen für arbeitgeberfinanzierte Pläne erreichte im Jahr 2023 245 Milliarden US-Dollar.

Arbeitgebersegment	Anzahl der Kunden	Gesamtvermögen
Große Unternehmen	5,200	180 Milliarden Dollar
Mittelständische Unternehmen	35,000	45 Milliarden Dollar
Kleine Unternehmen	16,800	20 Milliarden Dollar

Beziehungen zu Investment-Management-Firmen

Voya unterhält Partnerschaften mit 25 Investmentmanagementfirmen und verwaltet ein Gesamtportfolio von 385 Milliarden US-Dollar.

• BlackRock
• Avantgarde
• State Street Global Advisors
• Fidelity Investments

Investmentpartner	Vermögensverwaltung	Dauer der Partnerschaft
BlackRock	125 Milliarden Dollar	12 Jahre
Avantgarde	95 Milliarden Dollar	9 Jahre
State Street Global Advisors	85 Milliarden Dollar	7 Jahre

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Hauptaktivitäten

Verwaltung und Verwaltung von Altersvorsorgeplänen

Voya Financial verwaltet im vierten Quartal 2023 Vermögenswerte aus Altersvorsorgeplänen in Höhe von 595 Milliarden US-Dollar. Das Unternehmen betreut rund 15,3 Millionen Teilnehmer an betrieblichen Altersvorsorgeplänen.

Altersvorsorgeplan-Metrik	Wert
Gesamtes verwaltetes Altersvorsorgevermögen	595 Milliarden US-Dollar
Anzahl der Teilnehmer an der Altersvorsorge	15,3 Millionen

Entwicklung von Anlageprodukten

Voya entwickelt vielfältige Anlageprodukte mit einem Anlageverwaltungsvermögen von 273 Milliarden US-Dollar.

• Investmentfonds über mehrere Anlageklassen hinweg
• Altersvorsorgefonds zum Stichtag
• Institutionelle Anlagelösungen

Finanzberatungsdienste

Voya bietet Beratungsdienstleistungen an 56,1 Milliarden US-Dollar an Beratungsvermögen. Das Unternehmen beschäftigt bundesweit rund 1.500 Finanzberater.

Risikomanagement- und Versicherungslösungen

Das Versicherungssegment von Voya erwirtschaftete im Jahr 2023 Prämien in Höhe von 1,2 Milliarden US-Dollar und deckt Lebens-, Invaliditäts- und Zusatzkrankenversicherungsprodukte ab.

Versicherungsprodukt	Prämieneinnahmen
Lebensversicherung	475 Millionen Dollar
Berufsunfähigkeitsversicherung	350 Millionen Dollar
Zusätzliche Krankenversicherung	375 Millionen Dollar

Digitale Plattform und Technologieinnovation

Voya investierte im Jahr 2023 127 Millionen US-Dollar in Technologieinfrastruktur und digitale Plattformen. Das Unternehmen unterstützt 4,2 Millionen digitale Nutzer auf seinen Online-Plattformen.

• Mobile App mit Tools zur Altersvorsorge
• Online-Kontoverwaltung
• Automatisierte Anlageplattformen

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Finanzexpertise und professionelles Talent

Im vierten Quartal 2023 beschäftigte Voya Financial 5.900 Vollzeitmitarbeiter. Zur Belegschaft des Unternehmens gehören:

• 1.850 Finanzberater
• 475 Rentenspezialisten
• Fachleute mit einer durchschnittlichen Branchenerfahrung von 12,6 Jahren

Mitarbeiterkategorie	Nummer
Gesamtzahl der Vollzeitbeschäftigten	5,900
Finanzberater	1,850
Rentenspezialisten	475

Robuste digitale Infrastruktur und technologische Plattformen

Technologieinvestitionen im Jahr 2023: 187,4 Millionen US-Dollar

• Cloud-Computing-Infrastruktur
• Fortschrittliche Cybersicherheitssysteme
• Analyseplattformen für maschinelles Lernen

Starker Markenruf im Bereich Altersvorsorge und Investmentdienstleistungen

Markenbewertung: 2,3 Milliarden US-Dollar (2023)

Metrisch	Wert
Verwaltetes Vermögen	273 Milliarden US-Dollar
Gesamter Kundenstamm	14,3 Millionen

Umfassendes Finanzproduktportfolio

Die Produktpalette umfasst:

• Ruhestandspläne
• Dienstleistungen im Bereich Investmentmanagement
• Versicherungsprodukte

Produktkategorie	Jahresumsatz
Altersvorsorgedienste	1,42 Milliarden US-Dollar
Investmentmanagement	685 Millionen Dollar
Versicherungsprodukte	512 Millionen Dollar

Funktionen für Datenanalyse und Kundeneinblicke

Analytics-Investition: 62,3 Millionen US-Dollar im Jahr 2023

• Vorhersagemodellierungsfunktionen
• Tools zur Kundensegmentierung
• Echtzeit-Risikobewertungssysteme

Analysefähigkeit	Leistungsmetrik
Vorhersagegenauigkeit	87.4%
Tiefe der Kundeneinsicht	92 % umfassend

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Wertversprechen

Umfassende Lösungen für die Altersvorsorge

Voya Financial bietet Altersvorsorgelösungen mit einem verwalteten Gesamtvermögen von 711 Milliarden US-Dollar (Stand: 4. Quartal 2023). Das Unternehmen bietet 401(k)-Pläne für etwa 5 Millionen Teilnehmer bei 64.000 Firmenkunden.

Altersvorsorgeprodukt	Gesamtvermögen	Anzahl der Teilnehmer
401(k)-Pläne	405 Milliarden US-Dollar	5 Millionen
Individuelle Altersvorsorgekonten	186 Milliarden US-Dollar	1,3 Millionen

Personalisierte Finanzberatungsdienste

Voya bietet personalisierte Finanzberatung durch 2.500 Finanzberater und betreut landesweit rund 14,3 Millionen Kunden.

• Durchschnittlicher Portfoliowert pro Kunde: 287.000 $
• Digitale Finanzplanungstools stehen 100 % der Kunden zur Verfügung
• Maßgeschneiderte Ruhestandseinkommensstrategien

Vielfältige Angebote an Anlageprodukten

Aufteilung des Anlageportfolios ab 2023:

Anlagekategorie	Gesamtvermögen	Marktanteil
Investmentfonds	214 Milliarden US-Dollar	3.2%
Fonds zum Ruhestandszieldatum	89 Milliarden Dollar	5.7%

Digital-First-Kundenerlebnis

Kennzahlen zum digitalen Engagement für 2023:

• Nutzer mobiler Apps: 2,1 Millionen
• Online-Kontozugriff: 87 % der Kunden
• Digitales Transaktionsvolumen: 68 % aller Interaktionen

Integrierte Finanz-Wellness-Programme

Statistiken zum Finanz-Wellness-Programm:

Programmfunktion	Teilnahmequote	Auswirkungen auf den Kunden
Beurteilung der Ruhestandsbereitschaft	62%	Verbesserte Ruhestandsvorsorge
Ressourcen zur Finanzbildung	55%	Verbesserte Finanzkompetenz

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Finanzberatung

Voya Financial bietet personalisierte Finanzberatungsdienste mit über 1.400 Finanzberatern in den Vereinigten Staaten. Ab 2024 bietet das Unternehmen:

• Individuelle Beratung zur Altersvorsorge
• 401(k)-Anlagestrategiesitzungen
• Umfassende Beratung zur Vermögensverwaltung

Beratungstyp	Durchschnittliche Dauer	Jährliche Kundenreichweite
Ruhestandsplanung	90 Minuten	215.000 Kunden
Anlagestrategie	60 Minuten	180.000 Kunden

Digitale Self-Service-Plattformen

Die digitalen Plattformen von Voya unterstützen 3,6 Millionen aktive Online-Nutzer mit den folgenden Funktionen:

• Mobile App mit Echtzeit-Investitionsverfolgung
• Online-Kontoverwaltung
• Digitaler Rentenrechner

Dedizierte Kundensupportkanäle

Voya bietet mehrere Kundensupportoptionen:

Support-Kanal	Durchschnittliche Reaktionszeit	Jährliches Kontaktvolumen
Telefonsupport	7 Minuten	1,2 Millionen Anrufe
Live-Chat	4 Minuten	850.000 Interaktionen
E-Mail-Support	24 Stunden	600.000 E-Mails

Regelmäßige Finanzschulungen und Webinare

Voya führt jährlich 240 Webinare zur Finanzbildung durch und erreicht etwa 95.000 Teilnehmer mit Themen wie:

• Strategien zur Altersvorsorge
• Verwaltung des Anlageportfolios
• Finanzielle Wellness-Programme

Maßgeschneiderte Tools zur Altersvorsorge

Voya bietet fortschrittliche Tools zur Altersvorsorge für 2,8 Millionen Benutzer, darunter:

• Personalisierte Renteneinkommensprognosen
• Interaktive Anlageallokationssimulatoren
• Umfassende Dashboards zur finanziellen Gesundheit

Werkzeugkategorie	Benutzerinteraktion	Jährliche Updates
Rentenrechner	1,4 Millionen Nutzer	4 große Updates
Investitionssimulatoren	980.000 Benutzer	3 große Updates

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Kanäle

Digitale Online-Plattformen

Voya Financial arbeitet über eine umfassende digitale Plattform mit den folgenden Schlüsselkennzahlen:

• Nutzerbasis der digitalen Plattform: 4,3 Millionen registrierte Nutzer im vierten Quartal 2023
• Durchdringung der Online-Kontoverwaltung: 68 % des gesamten Kundenstamms
• Jährliche digitale Transaktionen: 127,4 Millionen digitale Interaktionen im Jahr 2023

Digitaler Kanal	Nutzungsprozentsatz	Jährliches Transaktionsvolumen
Webportal	52%	76,4 Millionen Transaktionen
Mobile Anwendung	48%	51 Millionen Transaktionen

Mobile Anwendungen

Voyas mobile Anwendungsstatistik:

• Downloads mobiler Apps: 2,1 Millionen ab 2023
• Aktive mobile Nutzer: 1,6 Millionen monatlich aktive Nutzer
• Bewertung der mobilen App: 4,3/5 im App Store und bei Google Play

Finanzberaternetzwerke

Zusammensetzung des Finanzberaternetzwerks von Voya:

• Finanzberater insgesamt: 6.800 registrierte Fachkräfte
• Netzabdeckung: 49 Bundesstaaten in den Vereinigten Staaten
• Durchschnittliches verwaltetes Vermögen pro Berater: 87,3 Millionen US-Dollar

Beraternetzwerksegment	Anzahl der Berater	Durchschnittliches Kundenportfolio
Unabhängige Berater	3,200	62,5 Millionen US-Dollar
Interne Berater	3,600	112,6 Millionen US-Dollar

Direktvertriebsteams

Kennzahlen des Direktvertriebsteams von Voya:

• Gesamtzahl der Vertriebsmitarbeiter: 4.500 landesweit
• Durchschnittlicher Jahresumsatz pro Vertreter: 3,2 Millionen US-Dollar
• Geografische Verteilung des Vertriebsteams: Alle 50 US-Bundesstaaten

Arbeitgebervorteilsprogramme

Statistiken zu Voyas Arbeitgebervorteilskanälen:

• Gesamtzahl der Arbeitgeberkunden: 22.400 Unternehmenspartnerschaften
• Mitarbeiterteilnehmer: 5,6 Millionen eingeschriebene Mitarbeiter
• Durchschnittlicher Vertragswert: 1,7 Millionen US-Dollar pro Firmenkunde

Arbeitgebersegment	Anzahl der Kunden	Gesamtzahl der eingeschriebenen Mitarbeiter
Große Unternehmen	1,200	3,4 Millionen
Mittelständische Unternehmen	8,700	1,8 Millionen
Kleine Unternehmen	12,500	400,000

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Kundensegmente

Sponsoren von betrieblichen Altersvorsorgeplänen

Im vierten Quartal 2023 betreut Voya Financial rund 51.000 Sponsoren von betrieblichen Altersvorsorgeplänen in verschiedenen Branchen.

Segmentmerkmale	Gesamtmarktreichweite	Durchschnittliche Plangröße
Fortune-1000-Unternehmen	1.250 Unternehmenskunden	45,3 Millionen US-Dollar pro Plan
Mittelständische Unternehmen	22.500 Plansponsoren	8,7 Millionen US-Dollar pro Plan

Individuelle Altersvorsorgeinvestoren

Voya verwaltet zum 31. Dezember 2023 ein individuelles Altersvorsorgevermögen in Höhe von 729 Milliarden US-Dollar.

• Gesamtzahl der individuellen Altersvorsorgekonten: 6,3 Millionen
• Durchschnittlicher individueller Rentenkontostand: 116.500 $
• Altersdemografie: 35–55 Jahre, primäres Zielsegment

Kleine bis mittlere Unternehmen

Voya Financial betreut rund 27.000 kleine und mittlere Geschäftskunden.

Unternehmensgröße	Anzahl der Kunden	Durchschnittlicher Jahresumsatz
Kleine Unternehmen (10-100 Mitarbeiter)	18.500 Kunden	2,5 bis 15 Millionen US-Dollar
Mittelständische Unternehmen (101–500 Mitarbeiter)	8.500 Kunden	15 bis 75 Millionen US-Dollar

Vermögende Privatpersonen

Voya richtet sich an vermögende Privatpersonen mit Anlageportfolios von mehr als 1 Million US-Dollar.

• Gesamter vermögender Kundenstamm: 42.000
• Durchschnittlicher Portfoliowert: 3,2 Millionen US-Dollar
• Medianes Kundenalter: 52 Jahre

Berufs- und Handelsverbände

Voya Financial bietet landesweit 1.250 Berufs- und Handelsverbänden Altersvorsorge- und Finanzdienstleistungen an.

Assoziationstyp	Anzahl der Partnerschaften	Gesamtzahl der betreuten Mitglieder
Berufsverbände	850	1,2 Millionen Mitglieder
Handelsverbände	400	650.000 Mitglieder

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Kostenstruktur

Entwicklung der Technologieinfrastruktur

Im Geschäftsjahr 2022 investierte Voya Financial 248,3 Millionen US-Dollar in die Entwicklung von Technologie und digitaler Infrastruktur. Die Aufschlüsselung der Technologieausgaben des Unternehmens umfasst:

Kategorie „Technologiekosten“.	Betrag (USD)
Cloud-Computing-Infrastruktur	87,5 Millionen US-Dollar
Cybersicherheitssysteme	62,4 Millionen US-Dollar
Wartung der digitalen Plattform	53,2 Millionen US-Dollar
Datenanalysetools	45,2 Millionen US-Dollar

Vergütung und Schulung der Mitarbeiter

Die gesamten mitarbeiterbezogenen Ausgaben für Voya Financial beliefen sich im Jahr 2022 auf 1,2 Milliarden US-Dollar, darunter:

• Grundgehälter: 672 Millionen US-Dollar
• Leistungsprämien: 248 Millionen US-Dollar
• Leistungen an Arbeitnehmer: 180 Millionen US-Dollar
• Schulung und Entwicklung: 36 Millionen US-Dollar

Marketing und Kundenakquise

Die Marketingausgaben für Voya Financial beliefen sich im Jahr 2022 auf insgesamt 156,7 Millionen US-Dollar, mit folgender Aufteilung:

Marketingkanal	Ausgaben (USD)
Digitales Marketing	68,3 Millionen US-Dollar
Traditionelle Werbung	52,4 Millionen US-Dollar
Content-Marketing	22,6 Millionen US-Dollar
Kampagnen zur Kundengewinnung	13,4 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Compliance-bezogenen Kosten für Voya Financial beliefen sich im Jahr 2022 auf 94,5 Millionen US-Dollar, verteilt auf:

• Rechtliche und behördliche Berichterstattung: 42,3 Millionen US-Dollar
• Compliance-Technologie: 28,7 Millionen US-Dollar
• Externe Prüfung und Beratung: 23,5 Millionen US-Dollar

Produktentwicklung und Innovation

Voya Financial hat im Jahr 2022 187,6 Millionen US-Dollar für Produktentwicklung und Innovation bereitgestellt, mit folgender Aufteilung:

Kategorie „Innovation“.	Investition (USD)
Forschung zu Altersvorsorgeprodukten	82,4 Millionen US-Dollar
Digitale Produktentwicklung	65,2 Millionen US-Dollar
Innovation der Anlagestrategie	40,0 Millionen US-Dollar

Voya Financial, Inc. (VOYA) – Geschäftsmodell: Einnahmequellen

Verwaltungsgebühren für Altersvorsorgepläne

Für das Geschäftsjahr 2022 meldete Voya Financial 1,23 Milliarden US-Dollar an Buchführungs- und Verwaltungsgebühren aus beitragsorientierten Altersvorsorgeplänen. Die durchschnittliche Verwaltungsgebühr betrug 0,45 % des Planvermögens.

Umsatzkategorie	Betrag 2022	Prozentsatz des Gesamtumsatzes
Verwaltungsgebühren für Altersvorsorgepläne	1,23 Milliarden US-Dollar	32.5%

Gebühren für die Anlageverwaltung

Die Anlageverwaltungsgebühren generierten für Voya Financial im Jahr 2022 einen Umsatz von 845 Millionen US-Dollar, was 22,3 % der gesamten Einnahmequellen entspricht.

• Durchschnittlicher Vermögensverwaltungsgebührensatz: 0,65 %
• Gesamtes verwaltetes Vermögen: 252 Milliarden US-Dollar

Provisionen für Versicherungsprodukte

Die Provisionen für Versicherungsprodukte beliefen sich im Jahr 2022 auf insgesamt 672 Millionen US-Dollar, mit folgender Aufteilung:

Versicherungsprodukttyp	Provisionseinnahmen
Lebensversicherung	394 Millionen US-Dollar
Rentenprodukte	278 Millionen Dollar

Gebühren für Beratungsleistungen

Die Gebühren für Beratungsdienstleistungen machten im Jahr 2022 einen Umsatz von 456 Millionen US-Dollar aus, mit einer durchschnittlichen Gebühr von 0,75 % des Beratungsvermögens.

• Einzelhandelsberatungsdienste: 276 Millionen US-Dollar
• Institutionelle Beratungsdienste: 180 Millionen US-Dollar

Einnahmen aus Abonnements digitaler Plattformen

Die Einnahmen aus digitalen Plattformen und Technologiedienstleistungen erreichten im Jahr 2022 187 Millionen US-Dollar, was einem Wachstum von 15 % gegenüber dem Vorjahr entspricht.

Kategorie „Digitaler Dienst“.	Umsatz 2022
Digitale Tools zur Altersvorsorge	92 Millionen Dollar
Online-Investitionsplattformen	65 Millionen Dollar
Finanzplanungssoftware	30 Millionen Dollar

Voya Financial, Inc. (VOYA) - Canvas Business Model: Value Propositions

You're looking at the core promises Voya Financial, Inc. (VOYA) makes to its customers, the things that make them choose VOYA over the competition. These value propositions are backed by significant scale and recent performance figures, so let's break down the hard numbers.

Clearing the path to financial confidence for individuals and institutions

Voya Financial, Inc. positions itself as a partner in achieving financial confidence. This is supported by the sheer size of the assets they manage and administer. As of September 30, 2025, Voya Financial had a total of $1.1 trillion in assets under management and administration (AUM&A) across the enterprise. The Investment Management segment specifically reported $366 billion in Assets Under Management (AUM) as of that same date. Furthermore, the company delivered nearly 30% growth in adjusted operating Earnings Per Share (EPS) year-over-year for the third quarter of 2025.

The scale of the core retirement business is also a key value driver. As of the second quarter of 2025, total client assets across Retirement and Investment Management surpassed $1 trillion. Total client assets specifically stood at $785 billion as of September 30, 2025, representing a 29% increase compared to September 30, 2024.

Here's a quick look at the Investment Management segment's scale as of September 30, 2025:

Metric	Amount
Investment Management AUM	$366 billion
Total Enterprise AUM&A	$1.1 trillion
Total Client Assets (Sep 30, 2025)	$785 billion
Investment Management Net Inflows (3 months ended Sep 30, 2025)	$3.9 billion

Holistic financial wellness via the connected digital platform myVoyage

Voya Financial offers myVoyage, a digital platform designed to provide personalized guidance and connect workplace benefits. While the platform is continuously updated, real-life customer outcomes from 2023 data illustrate its impact on decision-making. For instance, 7% of myVoyage users increased their retirement savings rate. Also, 59% of users elected supplemental health insurance through the platform. To be fair, these are historical results, but they show the tool drives action. A significant 79% of plan participants surveyed expressed a desire for help maximizing benefit dollars across workplace benefits and savings.

• 59% of users elected supplemental health insurance.
• 7% of users increased their retirement savings rate.
• 79% of respondents want help maximizing benefit dollars.

Enterprise-grade retirement solutions for large-plan markets and government institutions

Voya Financial is a leading provider of retirement products and services, serving a massive base of employers and participants. As of June 30, 2025, Voya served approximately 45,000 U.S. employers and over 9.6 million retirement plan participants. The Retirement segment showed strong commercial momentum, with defined contribution net flows of approximately $12 billion in the second quarter of 2025. The pre-tax adjusted operating earnings for the Retirement segment in the second quarter of 2025 were $235 million, up from $214 million in the prior-year period, partly due to the acquired business from OneAmerica.

Top 3 group provider of supplemental health insurance in the U.S.

Voya Financial holds a strong position in the Employee Benefits space, specifically as a Top 3 Group provider of supplemental health insurance in the U.S. Through its insurance companies, Voya covers more than 7.2 million individuals via workplace supplemental products, including stop loss, life, and disability insurance, as of June 30, 2024. The underwriting discipline in this segment is evident; for example, the expected loss ratio for the 2024 stop-loss cohort was lowered by 200 basis points to 91% as of Q2 2025. The segment's pre-tax adjusted operating earnings for the third quarter of 2025 reached $47 million, up from $23 million in the prior-year period.

Access to private markets investments through the Blue Owl partnership

The partnership with Blue Owl Capital is designed to bring private market strategies into defined contribution (DC) retirement plans via Collective Investment Trusts (CITs). Blue Owl is a credit-focused alternatives manager with $273 billion in assets under management as of July 2025. This collaboration leverages Voya's significant retirement footprint, which includes serving more than nine million retirement plan participants holding over $630 billion in DC assets on its platform as of July 2025. Voya intends to use Blue Owl's direct lending and investment grade, asset-backed finance private credit strategies.

Voya Financial, Inc. (VOYA) - Canvas Business Model: Customer Relationships

You're looking at how Voya Financial, Inc. (VOYA) manages the connections with its vast client base as of late 2025. It's a mix of high-touch human advice and scalable digital tools, which makes sense given their scale.

Advisor-supported model for retirement and wealth clients

The advisor channel remains central for Voya Financial, Inc. (VOYA) in serving both retirement and wealth management needs. They support a network of approximately 477 financial professionals across Voya Financial Advisors, Inc.. This human element is key for complex decision-making, especially as participants approach retirement.

For employer-sponsored plans, the advisor support drives growth, particularly in flexible offerings. For instance, Voya's Multiple Employer Solution (MES) plan business, which targets smaller businesses needing streamlined administration, saw a 52% year-over-year increase in funded sales as of June 30, 2025. Also, Voya finalized a new selling agreement with Edward Jones, intending to expand the reach of their comprehensive retirement tools through that advisor network.

Digital self-service and integrated experience via myVoyage

For the broader participant base, digital engagement is critical for driving better outcomes. myVoyage is Voya Financial, Inc. (VOYA)'s personalized financial-guidance and connected workplace-benefits digital platform. This platform helps employees see a consolidated view of their financial accounts and benefits coverages with one login.

The impact of this digital guidance is measurable. Participants who engage with Voya's digital tool, specifically myOrangeMoney, have shown 24% higher savings rates. This shows you that making the data accessible and actionable helps people save more effectively. Voya serves over 9.6 million retirement plan participants as of June 1, 2025, many of whom use these digital tools to manage their journey.

Dedicated sales and relationship teams for institutional clients

The institutional side relies on dedicated teams to manage large, complex relationships. Voya Financial, Inc. (VOYA) acts as a B2B partner, serving approximately 45,000 U.S. employers. Relationship leaders manage engagement across multi-product solutions, including Retirement Plans and Health Savings Accounts.

The success in this segment is reflected in new client wins, such as securing the Virginia Retirement System and another large state government plan in the first half of 2025. On the asset management front, Voya Investment Management managed $366 billion in assets as of September 30, 2025, with $167 billion specifically from Institutional external client assets in Q2 2025.

Here's a quick look at the scale of Voya Financial, Inc. (VOYA)'s client base and asset relationships:

Relationship Metric	Value	As of Date/Period
Total Individual, Workplace, and Institutional Clients	15.7 million	June 30, 2025
Retirement Plan Participants	Over 9.6 million	June 1, 2025
U.S. Employers Served	Approximately 45,000	As reported
Total Client Assets (AUM/A)	$785 billion	September 30, 2025
Institutional External Client Assets (Investment Mgmt)	$167 billion	Q2 2025
Voya Financial Advisors Professionals	Approximately 477	As reported

Customer-centric approach driven by a purpose-driven culture

The underlying philosophy driving these interactions is a customer-centric approach rooted in Voya Financial, Inc. (VOYA)'s purpose. The company's aspirational vision is 'Clearing your path to financial confidence and a more fulfilling life'. This focus translates into tangible results, like the strong client growth seen in the Retirement business during the first half of 2025.

The culture supporting this is recognized externally. Voya Financial, Inc. (VOYA) is certified as a "Great Place to Work" by the Great Place to Work® Institute. Furthermore, the company has earned recognition as one of the World's Most Ethical Companies® by Ethisphere. This commitment to ethical and positive internal culture is presented as the foundation for building client trust.

• Certified as a "Great Place to Work" by the Great Place to Work® Institute.
• Recognized as one of the World's Most Ethical Companies® by Ethisphere.
• Achieved recognition as a "Best Place to Work for Disability Inclusion" on the Disability Equality Index.
• Focus on simplifying retirement planning and broadening accessibility.

Finance: draft 13-week cash view by Friday.

Voya Financial, Inc. (VOYA) - Canvas Business Model: Channels

You're looking at how Voya Financial, Inc. gets its products and services into the hands of customers. It's a multi-pronged approach, heavy on the workplace side, but with a growing emphasis on digital and strategic partnerships. Honestly, the numbers show where the real scale is right now.

Workplace/Employer-sponsored Plans

The core channel for Voya Financial, Inc. is definitely the employer-sponsored retirement space. This is where they achieve massive scale by embedding their solutions within companies across the U.S. As of June 30, 2025, Voya Financial, Inc. was serving approximately 45,000 U.S. employers. This massive network supports over 9.6 million retirement plan participants as of that same date.

The growth in flexible offerings is notable. For instance, funded sales within Voya's Multiple Employer Solution (MES) plan business saw a 52% year-over-year increase as of June 30, 2025. This shows the channel is adapting to smaller and mid-sized market needs. Total assets under management and administration across the company stood at over $1 trillion+ as of the second quarter of 2025.

Here's a quick snapshot of the scale within this primary channel:

• Serving approximately 45,000 U.S. employers as of June 30, 2025.
• Supporting over 9.6 million retirement plan participants.
• MES funded sales up 52% year-over-year (H1 2025).
• Total assets under management and administration over $1 trillion+.

Direct Sales Force and Network of Financial Professionals

While the employer channel provides the platform, Voya Financial, Inc. still relies on dedicated professionals to service and grow relationships. As of June 30, 2025, the company had approximately 477 financial professionals dedicated to serving workplace and wealth management clients. This team is crucial for navigating the complexities of large-plan markets and driving deeper engagement with participants.

Digital Platforms and Websites for Participant and Client Access

Technology is increasingly integrated into how Voya Financial, Inc. delivers value, moving beyond just administration. They use proprietary platforms to enhance the client experience. For example, they deploy myVoyage, which is described as a first-of-its-kind personalized financial-guidance and connected workplace-benefits digital platform. Also in use is Voya Claims 360, designed to simplify the claims process for supplemental health insurance products. These digital tools help meet the expectation for seamless, tech-enabled financial guidance.

Key Distribution Partners like Edward Jones

Expanding reach through established networks is a clear strategy. Voya Financial, Inc. recently bolstered this channel by finalizing a new selling agreement with Edward Jones in the first half of 2025. This partnership allows Edward Jones' financial advisors to offer Voya's full suite of retirement plan tools and services. To give you context, Edward Jones has about 20,000 financial advisors and serves more than 28,000 vendor-held workplace retirement plans. This deal is about meeting more people where they are-at work-through a trusted intermediary.

Institutional Channels for Investment Management

Voya Investment Management operates as a distinct channel, serving sophisticated institutional clients directly and through consultants. As of September 30, 2025, Voya Investment Management managed $366 billion of AUM (Assets Under Management) and $54 billion of AUA (Assets Under Administration). They are recognized globally, ranking among the top-50 institutional managers globally by AUM.

The institutional distribution platform is dedicated, using direct and consultant-focused sales professionals. The client base is diverse, including insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, and consultants. For the trailing twelve months ending September 30, 2025, the Investment Management segment generated an Adjusted Operating Earnings before Income Taxes (TTM) of $220 million.

Here's a breakdown of the Investment Management channel metrics as of late 2025:

Metric	Value (As of 09/30/2025 or Latest)	Context
Assets Under Management (AUM)	$366 billion	For Voya Investment Management
Assets Under Administration (AUA)	$54 billion	For Voya Investment Management
Institutional Manager Rank	Top 50 Globally	By AUM
Adjusted Operating Earnings (TTM)	$220 million	Investment Management, Pre-tax (3Q'25)
Institutional Client Types	Pension Funds, Endowments, Consultants, etc.	Direct and consultant-focused sales

Finance: draft 13-week cash view by Friday.

Voya Financial, Inc. (VOYA) - Canvas Business Model: Customer Segments

You're looking at Voya Financial, Inc. (VOYA)'s customer base as of late 2025, and it's clear they serve a massive cross-section of the American working and investing public. Honestly, their scale is what makes them a major player in the retirement space.

The core of their business revolves around guiding people to financial security, which means their customer segments are deeply tied to the workplace and institutional money management. As of September 30, 2025, Voya Financial, Inc. was serving approximately 15.7 million individual, workplace, and institutional clients in total across all segments.

Retirement Plan Participants

This group is the engine of the Wealth Solutions business. These are the employees whose retirement accounts Voya Financial, Inc. manages day-to-day. You're looking at significant scale here; as of September 30, 2025, Voya Financial, Inc. served over 9.7 million retirement plan participants. This massive base is supported by relationships with a large number of employers who sponsor these plans.

U.S. Employers

Voya Financial, Inc. partners with businesses of all sizes to offer these retirement plans. As of the third quarter of 2025, they were servicing approximately 45,000 U.S. employers. This includes small, mid-sized, and large corporations. They are actively growing in the mid-sized market, for instance, seeing a 52% year-over-year increase in funded sales within their Multiple Employer Solution (MES) plan business as of June 30, 2025. This suggests a strong focus on providing scalable solutions for growing businesses.

Institutional Investors Seeking Investment Management Solutions

The Investment Management segment caters to sophisticated entities looking for active management across various asset classes. These clients are served through a dedicated sales and service platform consisting of direct- and consultant-focused professionals. As of September 30, 2025, the preliminary Assets Under Management (AUM) attributed to Institutional external clients stood at $173 billion. This segment is part of the overall Investment Management AUM, which reached approximately $366 billion at that same date.

Individual Retail Clients for Wealth and Investment Products

This segment includes individual investors who access Voya Financial, Inc.'s investment products, often through intermediary channels like broker-dealers and independent financial advisers. This distribution platform relies on business development and wholesale forces. For the Investment Management segment as of September 30, 2025, the AUM from Retail external clients was $156 billion. This shows a substantial commitment to the direct-to-investor or intermediary-advised retail market alongside their institutional focus.

Government and Not-for-Profit Entities

Voya Financial, Inc. actively serves the public sector, including state and local government entities offering plans like 403(b) and 457 plans. They've recently secured major institutional wins, such as adding the Virginia Retirement System and another large state government plan in the first half of 2025, demonstrating success in delivering enterprise-grade retirement solutions to this segment. They also service the 501(c)(3) nonprofit space, having served as the recordkeeper for the first 403(b) Pooled Employer Plan following the SECURE Act 2.0 legislation.

Here's a quick look at how the Investment Management AUM breaks down by external client type as of September 30, 2025:

Client Category	Preliminary AUM (as of 9/30/2025)
Institutional External Clients	$173 billion
Retail External Clients	$156 billion
Company General Account Assets	$37 billion

To give you a better picture of the overall Investment Management client base, here are the key figures from that same date:

• Total Investment Management Preliminary AUM: $366 billion.
• Total assets under management and administration across Retirement and Investment Management: Over $1.09 trillion as of September 30, 2025.
• Total client assets across all segments (Retirement, IM, EB) as of June 30, 2025: $757 billion.
• Voya also has approximately 477 financial professionals serving workplace and wealth management clients as of June 30, 2025.

Voya Financial, Inc. (VOYA) - Canvas Business Model: Cost Structure

The Cost Structure for Voya Financial, Inc. centers heavily on claims management, integration expenses from recent acquisitions, and ongoing investment in its digital capabilities to support its workplace solutions. You need to watch these areas closely as they directly impact margin expansion.

Significant costs for integrating the OneAmerica retirement business

The acquisition of OneAmerica Financial, Inc.'s full-service retirement plan business, which closed on January 2, 2025, introduced immediate and ongoing costs. The upfront purchase price for this deal was $50 million. The integration process itself is a multi-year endeavor, planned to run through 2025 and potentially into 2026. To offset these integration efforts and associated operational expenses, Voya projected the acquisition would contribute approximately $75 million in pre-tax adjusted operating earnings in 2025. The total cost structure related to this integration includes the initial outlay plus the deferred consideration, which is up to $160 million payable in the second quarter of 2026, contingent on persistency and transition incentives.

Here's a quick look at the key financial figures tied to that major integration:

Cost/Projection Component	Amount (USD)	Timing/Basis
Upfront Purchase Price	$50 million	Paid at close (January 2025)
Projected 2025 Revenue Contribution	Approximately $200 million	For the first year post-closing
Projected 2025 Operating Earnings Contribution	Approximately $75 million	Pre-tax, for 2025
Maximum Deferred Consideration	Up to $160 million	Payable in Q2 2026

Claims and underwriting expenses in the Employee Benefits segment

For the Employee Benefits segment, the primary cost driver is claims and underwriting risk, which Voya monitors closely, especially given trends in employee health. Data as of June 30, 2025, reflects the current state of these costs, including the impact of the OneAmerica acquisition. While specific dollar amounts for total claims expenses for 2025 aren't immediately available, the underlying trends in utilization point to upward cost pressure. For instance, data reviewed for a 2025 report showed that between 2022 and 2024, the average number of chronic condition claims per person rose by 17%. Mental health claims specifically saw a larger increase during that period, jumping 31%. These utilization trends directly feed into the loss ratios that management must manage through premium setting.

Strategic investment of $50 million to insource Leave Management

Voya Financial, Inc. is making strategic investments within its Health Solutions business to enhance its offerings, specifically mentioning leave management and short-term disability. Although the search results confirm a $50 million upfront cost for the OneAmerica acquisition, the specific dollar amount for an investment solely dedicated to insourcing Leave Management is not explicitly detailed as a standalone $50 million figure in the context of 2025 spending. The focus remains on driving sales and retention through enhanced capabilities in this area.

Technology and digital platform development and maintenance

Maintaining and advancing Voya's digital platforms is a significant operational expense, though management actively works to control run-rate costs. The company has focused on operational excellence to decrease run-rate costs despite labor and software inflation, which creates room to increase investment in technology for future growth. Key technology integration efforts in 2025 included successfully integrating the AGI U.S. and Voya IM systems. The goal is to enhance business processes and risk management through technology, including developing a foundation for Voya's GenAI program. The firm relies on platforms like myVoyage for personalized financial guidance and Voya Claims 360 to simplify the claims process.

Employee compensation and distribution partner commissions

Compensation and commissions represent a substantial variable cost, particularly in the distribution channels supporting the Wealth Solutions and Employee Benefits segments. The 2024 Omnibus Incentive Plan governs equity and cash-based awards designed to attract and retain key personnel. For employee retirement plans, the company's matching contribution structure is a direct compensation cost. For example, in the Voya 401(k) Savings Plan, the Company matches up to 6% of eligible compensation each pay period. In one illustration provided for a participant with $48,000 in annual eligible compensation, the maximum company match potential for the year would be based on a per-pay-period match of $2,000. Distribution partner commissions scale with sales success across Voya's workplace and institutional channels.

Finance: draft 13-week cash view by Friday.

Voya Financial, Inc. (VOYA) - Canvas Business Model: Revenue Streams

You're looking at how Voya Financial, Inc. actually brings in the money, which is key to understanding its valuation, so let's break down the real numbers from late 2025.

Fee-based revenues from Retirement and Investment Management assets

A huge chunk of Voya Financial, Inc.'s revenue comes from fees tied to the assets it manages, especially in the Retirement and Investment Management segments. This is the stable, capital-light engine. For instance, by the end of Q2 2025, total client assets across Retirement and Investment Management had hit a milestone of $1.09 trillion, with the Retirement segment alone showing total client assets up 30% year-over-year to $757 billion as of June 30, 2025. The Investment Management side saw strong momentum, reporting net inflows of $1.8 billion in Q2 2025, which grew to $3.9 billion in net inflows for Q3 2025.

Here's a look at how the core asset-based businesses performed in the middle of the year:

Metric	Period	Amount
Total Revenues	Q2 2025	$1,981 million
Total Revenues	Q3 2025	$2.13 billion
Retirement Pre-tax Adjusted Operating Earnings	Q2 2025	$235 million
Investment Management TTM Adjusted Operating Margin	Q2 2025	28.0%

Investment advisory and administrative fees on client assets

These fees are directly linked to the assets under management (AUM) and administration, so when AUM grows-like the 30% surge in Retirement client assets in Q2 2025-the fee revenue follows. The Investment Management segment's TTM net revenue growth was 7.2% as of June 30, 2025, driven by those net inflows and positive capital markets. The focus here is on consistent fee collection, which is why you see management prioritizing organic growth and strong flow generation across institutional and retail channels.

Premiums and fees from Employee Benefits

The Employee Benefits business generates revenue primarily through premiums for products like Stop Loss insurance. While management is prioritizing margin recovery over top-line growth here, the scale is still significant. For the trailing twelve months ending June 30, 2025, the annualized in-force premiums and fees for Employee Benefits declined 6% year-over-year to $3.6 billion. This is a segment where underwriting discipline directly impacts the recognized revenue quality, so you see management taking a firm stance on pricing.

The revenue streams from this segment include:

• Premiums collected for Stop Loss coverage.
• Fees from Group Life and Voluntary benefits products.
• Underwriting gains from favorable claims development.

Spread-based income from assets under management

Spread-based income comes from the difference between the investment returns Voya earns on assets supporting its insurance and annuity products and the interest credited back to policyholders. This revenue source is sensitive to interest rates. While the Q2 2025 total revenues of $1,981 million reflected lower consolidated investment entities income compared to the prior year, the overall business mix is designed to be resilient. The company's guidance for full-year 2025 excess capital generation is set to exceed $700 million, indicating strong underlying cash generation that supports the balance sheet, even with variable investment income.

You'll want to watch the next quarter's results for any shift in spread income as the interest rate environment evolves. Finance: draft 13-week cash view by Friday.