Voya Financial, Inc. (VOYA): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des services financiers, Voya Financial, Inc. (VOYA) se distingue comme une force transformatrice, offrant des solutions de retraite innovantes et des stratégies financières complètes qui vont au-delà des frontières traditionnelles. En intégrant de manière transparente la technologie de pointe, des services de conseil personnalisés et une approche holistique du bien-être financier, Voya a conçu un modèle commercial unique qui répond aux besoins complexes des investisseurs modernes à travers divers segments de marché. Cette exploration de la toile des modèles commerciaux de Voya révèle les mécanismes complexes qui stimulent leur succès, montrant comment les partenariats stratégiques, l'innovation numérique et les solutions centrées sur le client les ont positionnés comme un acteur de premier plan dans le paysage des services financiers compétitifs.

Voya Financial, Inc. (VOYA) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec des conseillers et des institutions financières

Voya Financial maintient des partenariats stratégiques avec environ 10 000 conseillers financiers indépendants aux États-Unis. En 2023, ces partenariats génèrent environ 2,3 milliards de dollars de revenus consultatifs.

Type de partenaire	Nombre de partenaires	Contribution annuelle des revenus
Conseillers financiers indépendants	10,000	2,3 milliards de dollars
Partenaires financiers institutionnels	350	1,7 milliard de dollars

Partenariats avec les fournisseurs de technologies pour les plateformes numériques

Voya collabore avec les principaux fournisseurs de technologies pour améliorer les capacités de service numérique.

• Salesforce pour la gestion de la relation client
• Microsoft Azure pour l'infrastructure cloud
• IBM pour les solutions de cybersécurité

Partenaire technologique	Service fourni	Investissement annuel
Salesforce	Plate-forme CRM	12,5 millions de dollars
Microsoft Azure	Infrastructure cloud	8,3 millions de dollars

Collaboration avec les employeurs pour les services de plan de retraite

Voya dessert environ 57 000 clients d'entreprise avec des services de plan de retraite. L'actif total sous gestion des plans parrainés par l'employeur a atteint 245 milliards de dollars en 2023.

Segment de l'employeur	Nombre de clients	Actif total
Grandes entreprises	5,200	180 milliards de dollars
Entreprises de taille moyenne	35,000	45 milliards de dollars
Petites entreprises	16,800	20 milliards de dollars

Relations avec les sociétés de gestion des investissements

Voya maintient des partenariats avec 25 sociétés de gestion des investissements, gérant un portefeuille combiné de 385 milliards de dollars.

• Blackrock
• Avant-garde
• Conseillers mondiaux de la rue State
• Investissements de fidélité

Partenaire d'investissement	Actifs gérés	Durée du partenariat
Blackrock	125 milliards de dollars	12 ans
Avant-garde	95 milliards de dollars	9 ans
Conseillers mondiaux de la rue State	85 milliards de dollars	7 ans

Voya Financial, Inc. (VOYA) - Modèle d'entreprise: Activités clés

Administration et gestion du plan de retraite

Voya Financial gère 595 milliards de dollars d'actifs de régime de retraite au T2 2023. La société dessert environ 15,3 millions de participants dans les régimes de retraite des entreprises.

Métrique du plan de retraite	Valeur
Total des actifs de retraite sous gestion	595 milliards de dollars
Nombre de participants au plan de retraite	15,3 millions

Développement de produits d'investissement

Voya développe divers produits d'investissement avec 273 milliards de dollars d'actifs de gestion des investissements.

• Fonds communs de placement dans plusieurs classes d'actifs
• Fonds de retraite à date cible
• Solutions d'investissement institutionnelles

Services de conseil financier

Voya fournit des services de conseil avec 56,1 milliards de dollars d'actifs consultatifs. L'entreprise emploie environ 1 500 conseillers financiers à l'échelle nationale.

Solutions de gestion des risques et d'assurance

Le segment d'assurance de Voya a généré 1,2 milliard de dollars en primes en 2023, couvrant la vie, l'invalidité et les produits d'assurance maladie supplémentaires.

Produit d'assurance	Revenus de primes
Assurance-vie	475 millions de dollars
Assurance handicapée	350 millions de dollars
Assurance maladie supplémentaire	375 millions de dollars

Innovation de plate-forme numérique et de technologie

Voya a investi 127 millions de dollars dans l'infrastructure technologique et les plateformes numériques en 2023. La société soutient 4,2 millions d'utilisateurs numériques sur ses plateformes en ligne.

• Application mobile avec des outils de planification de la retraite
• Gestion de compte en ligne
• Plateformes d'investissement automatisées

Voya Financial, Inc. (Voya) - Modèle d'entreprise: Ressources clés

Expertise financière étendue et talent professionnel

Au quatrième trimestre 2023, Voya Financial a employé 5 900 employés à temps plein. La main-d'œuvre de l'entreprise comprend:

• 1 850 conseillers financiers
• 475 spécialistes de la retraite
• Professionnels ayant une expérience moyenne de l'industrie de 12,6 ans

Catégorie des employés	Nombre
Total des employés à temps plein	5,900
Conseillers financiers	1,850
Spécialistes de la retraite	475

Infrastructure numérique robuste et plateformes technologiques

Investissement technologique en 2023: 187,4 millions de dollars

• Infrastructure de cloud computing
• Systèmes de cybersécurité avancés
• Plates-formes d'analyse d'apprentissage automatique

Solide réputation de la marque dans les services de retraite et d'investissement

Évaluation de la marque: 2,3 milliards de dollars (2023)

Métrique	Valeur
Actifs sous gestion	273 milliards de dollars
Total de clientèle	14,3 millions

Portefeuille complet de produits financiers

La gamme de produits comprend:

• Plans de retraite
• Services de gestion des investissements
• Produits d'assurance

Catégorie de produits	Revenus annuels
Services de retraite	1,42 milliard de dollars
Gestion des investissements	685 millions de dollars
Produits d'assurance	512 millions de dollars

Capacités d'analyse des données et d'informations sur les clients

Investissement analytique: 62,3 millions de dollars en 2023

• Capacités de modélisation prédictive
• Outils de segmentation du client
• Systèmes d'évaluation des risques en temps réel

Capacité d'analyse	Métrique de performance
Précision prédictive	87.4%
Profondeur de perspicacité du client	92% complet

Voya Financial, Inc. (VOYA) - Modèle d'entreprise: propositions de valeur

Solutions complètes de planification de la retraite

Voya Financial propose des solutions de retraite avec 711 milliards de dollars d'actifs totaux sous gestion au 423 du quatrième trimestre.

Produit de retraite	Actif total	Nombre de participants
Plans 401 (k)	405 milliards de dollars	5 millions
Comptes de retraite individuels	186 milliards de dollars	1,3 million

Services de conseil financier personnalisés

Voya fournit des conseils financiers personnalisés par le biais de 2 500 conseillers financiers, desservant environ 14,3 millions de clients à l'échelle nationale.

• Valeur moyenne du portefeuille par client: 287 000 $
• Outils de planification financière numériques disponibles pour 100% des clients
• Stratégies de revenu de retraite personnalisées

Diverses offres de produits d'investissement

Répartition du portefeuille d'investissement en 2023:

Catégorie d'investissement	Actif total	Part de marché
Fonds communs de placement	214 milliards de dollars	3.2%
Fonds de date cible de retraite	89 milliards de dollars	5.7%

Expérience client d'abord numérique

Métriques d'engagement numérique pour 2023:

• Utilisateurs d'applications mobiles: 2,1 millions
• Accès au compte en ligne: 87% des clients
• Volume de transaction numérique: 68% de toutes les interactions

Programmes intégrés de bien-être financier

Statistiques du programme de bien-être financier:

Fonctionnalité du programme	Taux de participation	Impact client
Évaluation de la préparation à la retraite	62%	Amélioration de la préparation à la retraite
Ressources d'éducation financière	55%	Amélioration de la littératie financière

Voya Financial, Inc. (VOYA) - Modèle d'entreprise: relations avec les clients

Consultation financière personnalisée

Voya Financial propose des services de consultation financière personnalisés avec plus de 1 400 conseillers financiers aux États-Unis. Depuis 2024, la société fournit:

• Consultations individuelles sur la planification de la retraite
• 401 (k) Sessions de stratégie d'investissement
• Guidance complète de la gestion de patrimoine

Type de consultation	Durée moyenne	Reach du client annuel
Planification de la retraite	90 minutes	215 000 clients
Stratégie d'investissement	60 minutes	180 000 clients

Plates-formes de libre-service numériques

Les plates-formes numériques de Voya prennent en charge 3,6 millions d'utilisateurs en ligne actifs avec les fonctionnalités suivantes:

• Application mobile avec suivi des investissements en temps réel
• Gestion de compte en ligne
• Calculateurs de retraite numérique

Canaux de support client dédiés

Voya maintient plusieurs options de support client:

Canal de support	Temps de réponse moyen	Volume de contact annuel
Support téléphonique	7 minutes	1,2 million d'appels
Chat en direct	4 minutes	850 000 interactions
Assistance par e-mail	24 heures	600 000 e-mails

Éducation financière régulière et webinaires

Voya dirige 240 webinaires d'éducation financière par an, atteignant environ 95 000 participants avec des sujets, notamment:

• Stratégies de planification de la retraite
• Gestion du portefeuille d'investissement
• Programmes de bien-être financier

Outils de planification de la retraite personnalisés

Voya fournit des outils avancés de planification de la retraite pour 2,8 millions d'utilisateurs, notamment:

• Projections de revenu de retraite personnalisées
• Simulateurs d'allocation d'investissement interactifs
• Tableaux de bord de santé financière complets

Catégorie d'outils	Engagement des utilisateurs	Mises à jour annuelles
Calculateurs de retraite	1,4 million d'utilisateurs	4 mises à jour majeures
Simulateurs d'investissement	980 000 utilisateurs	3 mises à jour majeures

Voya Financial, Inc. (Voya) - Modèle d'entreprise: canaux

Plateformes numériques en ligne

Voya Financial opère via une plate-forme numérique complète avec les mesures clés suivantes:

• Base d'utilisateurs de plate-forme numérique: 4,3 millions d'utilisateurs enregistrés auprès du quatrième trimestre 2023
• Pénétration de gestion des comptes en ligne: 68% de la clientèle totale
• Transactions numériques annuelles: 127,4 millions d'interactions numériques en 2023

Canal numérique	Pourcentage d'utilisation	Volume de transaction annuel
Portail Web	52%	76,4 millions de transactions
Application mobile	48%	51 millions de transactions

Applications mobiles

Statistiques des applications mobiles de Voya:

• Téléchargements d'applications mobiles: 2,1 millions à partir de 2023
• Utilisateurs mobiles actifs: 1,6 million d'utilisateurs actifs mensuels
• Évaluation des applications mobiles: 4.3 / 5 sur l'App Store et Google Play

Réseaux de conseillers financiers

Composition du réseau de conseillers financiers de Voya:

• Conseillers financiers totaux: 6 800 professionnels enregistrés
• Couverture du réseau: 49 États aux États-Unis
• Actif moyen sous gestion par conseiller: 87,3 millions de dollars

Segment de réseau de conseiller	Nombre de conseillers	Portefeuille de clients moyens
Conseillers indépendants	3,200	62,5 millions de dollars
Conseillers internes	3,600	112,6 millions de dollars

Équipes de vente directes

Mesures de l'équipe de vente directe de Voya:

• Représentants des ventes totales: 4 500 à l'échelle nationale
• Ventes annuelles moyennes par représentant: 3,2 millions de dollars
• Équipe de vente Distribution géographique: les 50 États américains

Programmes de prestations de l'employeur

Les statistiques sur les canaux de bénéfice de l'employeur de Voya:

• Clients totaux de l'employeur: 22 400 partenariats d'entreprise
• Participants des employés: 5,6 millions d'employés inscrits
• Valeur du contrat moyen: 1,7 million de dollars par client d'entreprise

Segment de l'employeur	Nombre de clients	Total des employés inscrits
Grandes entreprises	1,200	3,4 millions
Entreprises de taille moyenne	8,700	1,8 million
Petites entreprises	12,500	400,000

Voya Financial, Inc. (VOYA) - Modèle d'entreprise: segments de clientèle

Sponsors du plan de retraite d'entreprise

Au quatrième trimestre 2023, Voya Financial dessert environ 51 000 sponsors du régime de retraite des entreprises dans divers secteurs.

Caractéristiques du segment	Total du marché	Taille moyenne du plan
Fortune 1000 Companies	1 250 clients d'entreprise	45,3 millions de dollars par plan
Entreprises intermédiaires	22 500 sponsors de plan	8,7 millions de dollars par plan

Investisseurs à la retraite individuels

Voya gère 729 milliards de dollars d'actifs de retraite individuels au 31 décembre 2023.

• Comptes de retraite individuels totaux: 6,3 millions
• Solde moyen du compte de retraite individuel moyen: 116 500 $
• Demographie d'âge: 35 à 55 ans segment cible principal

Petites et moyennes entreprises

Voya Financial dessert environ 27 000 clients commerciaux de taille petite à moyenne.

Taille de l'entreprise	Nombre de clients	Revenus annuels moyens
Petites entreprises (10-100 employés)	18 500 clients	2,5 millions de dollars - 15 millions de dollars
Entreprises moyennes (101-500 employés)	8 500 clients	15 millions de dollars - 75 millions de dollars

Individus à haute nette

VOYA cible les particuliers à haute teneur en portefeuille avec des portefeuilles d'investissement dépassant 1 million de dollars.

• Base de clientèle totale à haute noue: 42 000
• Valeur moyenne du portefeuille: 3,2 millions de dollars
• Âge du client médian: 52 ans

Associations professionnelles et commerciales

Voya Financial fournit des services de retraite et financiers à 1 250 associations professionnelles et professionnelles à l'échelle nationale.

Type d'association	Nombre de partenariats	Les membres totaux ont servi
Associations professionnelles	850	1,2 million de membres
Associations professionnelles	400	650 000 membres

Voya Financial, Inc. (VOYA) - Modèle d'entreprise: Structure des coûts

Développement d'infrastructures technologiques

Au cours de l'exercice 2022, Voya Financial a investi 248,3 millions de dollars dans le développement de la technologie et des infrastructures numériques. La répartition des dépenses technologiques de l'entreprise comprend:

Catégorie de coûts technologiques	Montant (USD)
Infrastructure de cloud computing	87,5 millions de dollars
Systèmes de cybersécurité	62,4 millions de dollars
Maintenance de plate-forme numérique	53,2 millions de dollars
Outils d'analyse de données	45,2 millions de dollars

Compensation et formation des employés

Les dépenses totales liées aux employés pour Voya Financial en 2022 étaient de 1,2 milliard de dollars, ce qui comprend:

• Salaires de base: 672 millions de dollars
• Bonus de performance: 248 millions de dollars
• Avantages sociaux: 180 millions de dollars
• Formation et développement: 36 millions de dollars

Marketing et acquisition de clients

Les dépenses de marketing pour Voya Financial en 2022 ont totalisé 156,7 millions de dollars, avec l'allocation suivante:

Canal de marketing	Dépenses (USD)
Marketing numérique	68,3 millions de dollars
Publicité traditionnelle	52,4 millions de dollars
Marketing de contenu	22,6 millions de dollars
Campagnes d'acquisition de clients	13,4 millions de dollars

Frais de conformité réglementaire

Les coûts liés à la conformité pour Voya Financial en 2022 s'élevaient à 94,5 millions de dollars, distribués à travers:

• Représentation juridique et réglementaire: 42,3 millions de dollars
• Technologie de conformité: 28,7 millions de dollars
• Audit externe et conseil: 23,5 millions de dollars

Développement et innovation de produits

Voya Financial a alloué 187,6 millions de dollars au développement de produits et à l'innovation en 2022, avec la ventilation suivante:

Catégorie d'innovation	Investissement (USD)
Recherche de produits à la retraite	82,4 millions de dollars
Développement de produits numériques	65,2 millions de dollars
Innovation de stratégie d'investissement	40,0 millions de dollars

Voya Financial, Inc. (VOYA) - Modèle d'entreprise: sources de revenus

Frais d'administration du plan de retraite

Pour l'exercice 2022, Voya Financial a déclaré 1,23 milliard de dollars en frais de tenue de dossiers et d'administration des plans de retraite à contribution définie. Les frais d'administration moyens étaient de 0,45% des actifs du régime.

Catégorie de revenus	2022 Montant	Pourcentage du total des revenus
Frais d'administration du plan de retraite	1,23 milliard de dollars	32.5%

Frais de gestion des investissements

Les frais de gestion des investissements ont généré 845 millions de dollars de revenus pour Voya Financial en 2022, ce qui représente 22,3% du total des sources de revenus.

• Taux moyens de frais de gestion des actifs: 0,65%
• Total des actifs sous gestion: 252 milliards de dollars

Commissions de produits d'assurance

Les commissions de produits d'assurance ont totalisé 672 millions de dollars en 2022, avec la ventilation suivante:

Type de produit d'assurance	Revenus de commission
Assurance-vie	394 millions de dollars
Produits de rente	278 millions de dollars

Frais de service consultatif

Les frais de service consultatif ont représenté 456 millions de dollars de revenus au cours de 2022, avec des frais moyens de 0,75% des actifs en cours de conseil.

• Services de conseil au détail: 276 millions de dollars
• Services de conseil institutionnel: 180 millions de dollars

Revenus d'abonnement à la plate-forme numérique

Les revenus de la plate-forme numérique et des services technologiques ont atteint 187 millions de dollars en 2022, ce qui représente une croissance de 15% par rapport à l'année précédente.

Catégorie de service numérique	2022 Revenus
Outils de planification de la retraite numérique	92 millions de dollars
Plateformes d'investissement en ligne	65 millions de dollars
Logiciel de planification financière	30 millions de dollars

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.