Voya Financial

To make a secure financial future possible for all by becoming America’s Retirement Company®.

Voya Financial SWOT Analysis

Updated: October 6, 2025 • 2025-Q4 Analysis

How to Use This Analysis

This analysis for Voya Financial was created using Alignment.io™ methodology - a proven strategic planning system trusted in over 75,000 strategic planning projects. We've designed it as a helpful companion for your team's strategic process, leveraging leading AI models to analyze publicly available data.

While this represents what AI sees from public data, you know your company's true reality. That's why we recommend using Alignment.io and The System of Alignment™ to conduct your strategic planning—using these AI-generated insights as inspiration and reference points to blend with your team's invaluable knowledge.

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The Voya Financial SWOT analysis reveals a company at a strategic inflection point. Its core strength lies in its dominant, high-retention workplace channel, which generates powerful net flows and free cash. This is the engine to fund its vision. However, it faces significant threats from market volatility and intense competition, coupled with internal weaknesses like tech debt and a lack of mega-scale. The primary opportunity is to fully capitalize on the health-wealth convergence trend, a market shift Voya is uniquely positioned to lead. The strategic imperative is clear: accelerate the integration of its platforms to create a defensible, personalized client experience. This focus will leverage its core strengths to seize the largest market opportunity while building a moat against competitive and economic threats. The path to becoming 'America's Retirement Company' is paved with superior integration and personalization.

Fidelity Investments Empower Prudential Financial Principal Financial Group Lincoln National Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To make a secure financial future possible for all by becoming America’s Retirement Company®.

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Strengths

FLOWS: Strong net flows in Wealth ($4.9B Q3'24) show market trust
WORKPLACE: Dominant, sticky B2B2C model with 95%+ client retention
CASH FLOW: High free cash flow generation enables shareholder returns
BRAND: Strong brand recognition in the core US retirement market
INTEGRATION: Proven success in cross-selling Health & Wealth solutions

Weaknesses

SCALE: Lacks the massive scale of giants like Fidelity or Vanguard
TECH DEBT: Pockets of legacy technology can slow down innovation cycles
DIVERSIFICATION: Heavily concentrated in the US market and its economy
IM PRESSURES: Investment Management faces secular fee compression
COMPLEXITY: Integrating multiple business lines creates operational drag

Opportunities

SECURE 2.0: Act opens new markets (e.g., student loan 401k matching)
ADVICE: Growing demand for personalized, tech-enabled financial advice
HEALTH/WEALTH: Market trend of employers seeking integrated benefits
M&A: Opportunity to acquire tech or capabilities to accelerate vision
DATA: Leverage proprietary data for insights and product development

Threats

MARKETS: Equity/fixed income volatility directly impacts AUM & revenue
COMPETITION: Intense rivalry from fintechs, PE firms, and large rivals
REGULATION: Evolving fiduciary rules and government oversight create risk
CYBERSECURITY: Constant threat of sophisticated attacks on client data
INTEREST RATES: Unpredictable rate environment impacts spread businesses

Key Priorities

INTEGRATE: Accelerate the Health/Wealth platform integration for clients
SCALE: Drive aggressive, profitable growth in core workplace markets
PERSONALIZE: Leverage data and tech to deliver hyper-personalized advice
OPTIMIZE: Fortify operations against market volatility & cyber threats

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Voya Financial OKR

Updated: October 6, 2025 • 2025-Q4 Analysis

The Voya Financial OKR plan is a masterclass in strategic alignment. It translates high-level priorities into a focused, actionable roadmap. The objectives—UNIFY, DOMINATE, PERSONALIZE, FORTIFY—are not just goals; they are commands that create clarity and urgency. By directly linking each objective to a core SWOT conclusion, the plan ensures every action is purposeful and drives the central strategy of integrated, personalized workplace solutions. The key results are specific, outcome-oriented, and ambitious, pushing the organization beyond incrementalism. This Voya OKR framework provides the executive team with a powerful tool to cascade vision into execution, ensuring the entire company is rowing in the same direction toward market leadership.

Fidelity Investments Empower Prudential Financial Principal Financial Group Lincoln National Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To make a secure financial future possible for all by becoming America’s Retirement Company®.

UNIFY EXPERIENCE

Deliver a seamless, integrated Health & Wealth platform.

PLATFORM: Launch unified client dashboard integrating Health & Wealth data for 1M end-users
ONBOARDING: Reduce new institutional client onboarding time by 30% through a streamlined digital process
DATA: Consolidate 80% of core client data points onto a single cloud-based analytics platform
ENGAGEMENT: Achieve a 25% increase in users engaging with both health and wealth tools on the platform

DOMINATE WORKPLACE

Become the #1 choice for workplace financial solutions.

FLOWS: Achieve $15 billion in positive annual net flows across Workplace Solutions, exceeding competitors
RETENTION: Maintain an institutional client retention rate of over 95% in the core retirement business
CROSS-SELL: Increase the number of retirement clients who also use Voya Health Solutions by 20%
MARKET: Win 50 new large-market institutional clients by capturing share from key competitors

PERSONALIZE SCALE

Deliver hyper-personalized advice to millions of clients.

AI MODEL: Deploy a proprietary AI model that generates personalized next-best-action advice for 2M users
ADOPTION: Drive adoption of the digital financial planning tool to 40% of active plan participants
SEGMENTATION: Launch 10 distinct, automated marketing and advice journeys based on user segmentation
SATISFACTION: Increase participant satisfaction scores related to 'personalized guidance' by 15 points

FORTIFY CORE

Strengthen our operational resilience and efficiency.

EFFICIENCY: Automate 25% of manual back-office processes in claims and administration, reducing costs
SECURITY: Achieve a top 5% industry score on third-party cybersecurity audits with zero critical findings
TALENT: Successfully upskill 1,000 employees in data analytics and AI literacy through new training programs
MARGIN: Improve the adjusted operating margin of the Workplace Solutions segment by 150 basis points

METRICS

Adjusted Operating EPS: Achieve $9.50
Net Flows: Exceed $15 Billion
Client Retention Rate: Maintain >95%

VALUES

We Have a Noble Purpose
We Are Customer-Driven
We Do the Right Thing
We Are a Force for Good
We Are Voya

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Voya Financial Retrospective

AI-Powered Insights

Claude

Gemini

GPT

Voya Financial Q3 2024 Earnings Report & Transcript
Voya Financial Investor Relations Website (investors.voya.com)
Voya Corporate Website (voya.com)
Publicly available financial data and industry reports

Fidelity Investments Empower Prudential Financial Principal Financial Group Lincoln National Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To make a secure financial future possible for all by becoming America’s Retirement Company®.

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What Went Well

WEALTH: Exceeded net flow targets, showing strong market momentum
CAPITAL: Continued aggressive share repurchases, boosting EPS
HEALTH: Premium growth and favorable claims experience drove earnings
STRATEGY: Positive commentary on the value of the integrated model
EXPENSES: Maintained cost discipline despite inflationary pressures

Not So Well

MARKETS: Negative impact of equity market performance on AUM-based fees
INVESTMENT: Investment management segment continues to face fee pressure
INTEREST: Lower variable investment income due to market conditions
GROWTH: Slower-than-expected growth in certain smaller business lines
GUIDANCE: Cautious forward-looking commentary given economic uncertainty

Learnings

DIVERSIFICATION: The diversified business model provides resilience
FLOWS: Organic growth is key to offsetting market-driven AUM declines
EFFICIENCY: Continuous focus on efficiency is critical in this environment
CLIENTS: Workplace clients are sticky and value integrated solutions
CAPITAL: A flexible capital management strategy is a competitive advantage

Action Items

SALES: Double down on workplace sales efforts to maintain flow momentum
TECHNOLOGY: Accelerate investment in the unified digital client platform
INTEGRATION: Launch new initiatives to deepen Health & Wealth cross-sell
COSTS: Identify new areas for operational efficiency and automation
COMMUNICATIONS: Clearly articulate long-term value despite short-term headwinds

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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Voya Financial Market

AI-Powered Insights

Claude

Gemini

GPT

Voya Financial Q3 2024 Earnings Report & Transcript
Voya Financial Investor Relations Website (investors.voya.com)
Voya Corporate Website (voya.com)
Publicly available financial data and industry reports

Founded: 2013 (Spun off from ING Group)
Market Share: Top 5 provider in defined contribution plan administration by assets.
Customer Base: 87,000+ institutional clients and 7.2 million individual customers.
Category:
Financial Services
SIC Code: 6311 Life Insurance
NAICS Code: 524113 Direct Life Insurance Carriers
Location: New York, NY
Zip Code: 10177
Congressional District: NY-12 NEW YORK
Employees: 7200

Competitors

Fidelity Investments Request Analysis

Empower Request Analysis

Prudential Financial View Analysis

Principal Financial Group Request Analysis

Lincoln National Corporation Request Analysis

Products & Services

No products or services data available

Distribution Channels

Voya Financial Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

Voya Financial Q3 2024 Earnings Report & Transcript
Voya Financial Investor Relations Website (investors.voya.com)
Voya Corporate Website (voya.com)
Publicly available financial data and industry reports

Problem

Financial stress from siloed benefits
Lack of personalized financial guidance
Complexity of retirement/health planning

Solution

Integrated workplace benefits platform
Tech-enabled advice and planning tools
Holistic health and wealth solutions

Key Metrics

Net flows (new client assets)
Adjusted operating earnings per share
Client retention rates
Return on equity (ROE)

Unique

Connecting health and wealth outcomes
Deeply embedded in the workplace
Focus on serving people with disabilities

Advantage

Proprietary data on 7.2M+ individuals
High-retention institutional relationships
Strong brand as a retirement leader

Channels

Financial advisors and brokers
Institutional sales teams
Digital platforms for employees

Customer Segments

Employers (small, mid, large market)
Employees of institutional clients
Institutional investors (pensions)

Costs

Employee compensation and benefits
Technology and infrastructure spending
Sales, marketing, and distribution costs

Voya Financial Product Market Fit Analysis

Updated: October 6, 2025

Voya Financial helps employers optimize their benefits ROI by providing an integrated platform that simplifies how employees manage their health and wealth. This approach secures better financial and health outcomes for employees, creating a more confident and productive workforce. It's about making a secure financial future possible for everyone, starting at the workplace, where decisions have the most impact.

OPTIMIZE: We optimize financial outcomes by connecting health and wealth.

SIMPLIFY: We simplify complexity through integrated, digital experiences.

SECURE: We secure futures with trusted guidance and workplace solutions.

Before State

Siloed retirement and health benefits
Financial stress impacting well-being
Complex, impersonal financial planning
One-size-fits-all benefit offerings

After State

Holistic view of financial wellness
Integrated health and wealth decisions
Personalized guidance and solutions
Optimized benefits utilization

Negative Impacts

Poor retirement savings outcomes
Suboptimal healthcare choices
Reduced employee productivity/morale
Higher employee turnover for employers

Positive Outcomes

Improved retirement readiness for users
Better health outcomes and lower costs
Increased employee financial confidence
Higher ROI on benefits for employers

Key Metrics

Customer Retention Rates

95%+ in Retirement

Net Promoter Score (NPS)

Not publicly disclosed

User Growth Rate

Positive net flows of +$4.9B in Q3 2024

Customer Feedback/Reviews

4.1 stars on Google (1.5k+ reviews)

Repeat Purchase Rates

High via cross-selling health to wealth clients

Requirements

Unified digital client platform
Data-driven personalization engine
Advisor-led, tech-enabled guidance
Seamless integration of services

Why Voya Financial

Leveraging workplace channel access
Investing in data analytics and AI
Cross-selling solutions to clients
Simplifying the end-user experience

Voya Financial Competitive Advantage

Unique data on health/wealth behavior
Deep, trusted employer relationships
Scale and brand of a top-tier provider
Strong free cash flow for investment

Proof Points

95%+ client retention in Retirement
Top-5 provider of retirement plans
Awarded as a 'World's Most Ethical Co.'
Strong net flows show market demand

Voya Financial Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

Voya Financial Q3 2024 Earnings Report & Transcript
Voya Financial Investor Relations Website (investors.voya.com)
Voya Corporate Website (voya.com)
Publicly available financial data and industry reports

Strategic pillars derived from our vision-focused SWOT analysis

Deepen relationships via employer channel

Connect health, wealth, and investment

Deliver personalized, seamless experience

Drive high free cash flow and shareholder return

What You Do

Provides workplace retirement, health, and investment solutions.

Target Market

Employers, employees, and institutional investors across the U.S.

Differentiation

Integrated health, wealth, and investment platform.
Focus on the workplace as the primary distribution channel.
Strong brand recognition as 'America's Retirement Company'.

Revenue Streams

Asset-based fees (AUM/AUA)
Administrative service fees
Insurance premiums and fees

Voya Financial Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

Voya Financial Q3 2024 Earnings Report & Transcript
Voya Financial Investor Relations Website (investors.voya.com)
Voya Corporate Website (voya.com)
Publicly available financial data and industry reports

Company Operations

Organizational Structure: Three core business segments: Workplace Solutions, Investment Management
Supply Chain: Primarily digital service delivery; partners with financial advisors.
Tech Patents: Proprietary financial planning tools and digital platforms.
Website: https://www.voya.com

Top Clients

Board Members

Voya Financial Competitive Forces

Threat of New Entry

MODERATE: Regulatory hurdles (FINRA, SEC) and massive capital requirements are high barriers, but tech giants (e.g., Apple) could enter.

Supplier Power

LOW: Key suppliers are technology vendors (Microsoft, Salesforce) and a fragmented base of financial advisors, neither having significant pricing power.

Buyer Power

MODERATE: Large corporate clients have significant leverage in fee negotiation, but high switching costs for retirement plans temper their power.

Threat of Substitution

MODERATE: Robo-advisors and self-directed investment platforms offer alternatives, but lack the integrated, workplace-based health/wealth value prop.

Competitive Rivalry

HIGH: Fragmented market with large incumbents (Fidelity, Empower) and nimble fintechs (Betterment) creating intense price/feature competition.

Analysis of AI Strategy

Updated: October 6, 2025 • 2025-Q4 Analysis

The Voya Financial AI SWOT analysis underscores a powerful, yet latent, advantage. Voya’s crown jewel is its vast, proprietary dataset on the financial and health behaviors of millions of Americans, a formidable moat if activated correctly. This data is the fuel for AI-driven personalization and operational efficiency, representing a massive opportunity to deepen client relationships and widen margins. However, this potential is constrained by weaknesses in legacy systems and a potential AI talent gap. The primary threat isn't just external, from nimble AI-native fintechs, but also internal—the risk of inaction. The strategic conclusion is to pursue a dual-track approach: aggressively deploy AI for personalization and automation while simultaneously building a robust governance framework and upskilling the workforce. This strategy will transform Voya’s data from a passive asset into a dynamic engine for growth and competitive differentiation.

Fidelity Investments Empower Prudential Financial Principal Financial Group Lincoln National Corporation

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To make a secure financial future possible for all by becoming America’s Retirement Company®.

Strengths

DATA: Massive, proprietary dataset on workplace savings & health choices
ACCESS: Established channel to 7.2M+ individuals for AI tool deployment
TRUST: Strong brand trust with employers, crucial for AI adoption
USE CASE: Clear ROI for AI in personalization, efficiency, underwriting
CAPITAL: Financial capacity to invest in or acquire AI technology/talent

Weaknesses

TALENT: Potential shortage of in-house, world-class AI/ML engineering
LEGACY: Existing infrastructure may hinder agile AI model integration
GOVERNANCE: Lack of a mature, enterprise-wide AI governance framework
CULTURE: Risk-averse culture may slow adoption of cutting-edge AI tech
SILOS: Data may be fragmented across different business unit systems

Opportunities

ADVICE: GenAI-powered 'co-pilots' for advisors and hyper-personalized
EFFICIENCY: Automate back-office operations, call centers, and claims
UNDERWRITING: AI-driven risk models for Health Solutions (stop-loss)
INSIGHTS: Uncover novel correlations between health and wealth behaviors
CROSS-SELL: AI-powered propensity models to identify cross-sell targets

Threats

FINTECH: AI-native startups offering superior, lower-cost experiences
SECURITY: AI-powered phishing and cyberattacks targeting client assets
REGULATION: Proactive or reactive regulation on AI in financial advice
BIAS: Risk of biased algorithms leading to poor or unfair outcomes
HALLUCINATIONS: GenAI providing incorrect financial info poses liability

Key Priorities

PERSONALIZE: Deploy AI to create hyper-personalized client journeys/advice
AUTOMATE: Use AI to drive radical efficiency in core business processes
GOVERN: Establish a robust AI governance framework for risk management
UPSKILL: Launch a major initiative to upskill workforce in AI literacy

Create professional SWOT analyses in minutes with our AI template. Get insights that drive real results.

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Voya Financial Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

Voya Financial Q3 2024 Earnings Report & Transcript
Voya Financial Investor Relations Website (investors.voya.com)
Voya Corporate Website (voya.com)
Publicly available financial data and industry reports

Profit: $1.2 Billion Net Income (FY 2023)

Market Cap: $7.5 Billion (Approx. Q4 2024)

Stock Performance

Annual Report: View Report

Debt: $4.1 Billion Total Debt (Q3 2024)

ROI Impact: Share buybacks & dividends are key drivers of total shareholder return.

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Market Leader

ICM Index

STRATEGIC ADVISOR ASSESSMENT

Voya's Iconic Index reflects a strong Market Leader with a clear, societal-level ambition. Its high achievability is anchored by strong OKR-to-weakness alignment. The strategy is robust, but the SWOT score is balanced, indicating significant threats that temper its massive opportunities. The 1.50x growth multiplier is solid, constrained by a competitive TAM and market risks, but supported by a high probability of survival due to its entrenched workplace position. AI leverage is a significant, yet-to-be-fully-tapped, upside.

SWOT Factors

Upside: 83.3 Risk: 76.7

OKR Impact

AI Leverage

Top 3 Strategic Levers

Accelerate unified Health/Wealth platform deployment

Leverage proprietary data with AI for personalization

Aggressively pursue organic growth to increase scale

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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