Benefit Brokers gain voluntary market share in 2011, according to an Eastbridge survey.

AVON, CONNECTICUT, USA (May 31, 2012)

Overall voluntary sales were up in 2011 at $5.478 billion in premium and the largest producer segment, Benefit Brokers, pushed this along with increased sales. According to Eastbridge Consulting Group’s 2011 U.S. Worksite/Voluntary Sales Report, the segment generated about $3 billion in new sales, an 11 percent increase over 2010 sales.  The Benefit Broker’s share of total voluntary sales is now at 55 percent, up from 52 percent last year.   

In fact, the Benefit Broker was the only segment with a sales increase over their 2010 results. All other segments were slightly down. The Career Agent segment had the second largest share of the total sales. Classics and Specialists (the two segments focused on voluntary) together were larger at $1.217 billion, but individually were lower than the Career Agents.

The following chart shows the sales for each distributor segment and each segment’s increase over 2010 results.

The U.S. Worksite/Voluntary Sales Report estimates sales for the entire voluntary industry, with detailed data on the performance of over 60 worksite marketing carriers, both group (voluntary) and individual (worksite) carriers/products. This is the largest number of carriers included in any industry sales report.

Parties interested in participating in next year’s study are advised to email Eastbridge at info@eastbridge.com. All participants receive a free copy of the complete findings, including company-specific results.

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving the worksite/voluntary industry in the United States and Canada.