Fewer than half of the respondents in Eastbridge’s year-end 2009 Confidence Index survey expect the economy to negatively impact voluntary sales in 2010.
AVON,
CONNECTICUT, USA (March 9, 2010)
The latest results of Eastbridge Consulting Group’s Voluntary Insurance Confidence Index survey show that those in the industry believe the economy will have less negative impact on voluntary sales in 2010 than previously thought.
“When we first added this question to our survey in December of 2008, 62 percent of respondents expected some negative impact on voluntary,” say Gil Lowerre, Eastbridge president. In this most recent survey, however, just 48 percent said they expect a negative impact. “In fact,” adds Lowerre, “85 percent of respondents expect 2010 sales to increase as compared to 2009.”
“Both brokers and carriers are optimistic about the potential for 2010,” adds Bonnie Brazzell, vice president for Eastbridge. Eighty-three (83) percent of brokers expect increases in sales in 2010 and 88 percent of carriers do, according to the survey. The overall Confidence Index is up to its highest level since July of 2008, the estimated start of the recession.
The Voluntary Industry Confidence Index study is conducted semi-annually and includes responses from individuals active in the market—carriers, brokers, and vendors. Like other confidence indices, the index is a single number that compares the current results to a baseline measure. The first Confidence Index survey was completed in December of 2005; the results from that survey serve as our “base” year (meaning the index was at 100 for that year).
The Voluntary Industry Confidence Index report is available only to Eastbridge Information Partner companies as well as to participants. The survey will be conducted again in July of 2010. For more information on becoming a participant, contact the company at info@eastbridge.com.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.
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