Ninety (90) percent of survey respondents in Eastbridge Consulting Group’s year-end Voluntary Industry Confidence Index survey expect sales to increase in 2013. This percentage is about the same as what we saw in the mid-year 2012 study.
“Respondents remain confident about the voluntary/worksite industry’s ability to maintain sales growth,” says Gil Lowerre, president of Eastbridge. “The overall mean was down slightly (3.99 from 4.09), but that was caused by a shift in those expecting sales to ‘increase a lot.’ This number was down from 20 percent of respondents to 13 percent. However, these respondents only shifted to ‘increase a little’ as opposed to expecting no change or even a decrease,” adds Lowerre.
“Surprisingly, the percent of respondents in the most recent survey who believe that the economy will have a positive impact on voluntary sales was up from the mid-year,” shares Bonnie Brazzell, Eastbridge vice president. “The percentage expecting a positive impact was 40 percent, up from 34 percent last time. The percentage expecting a negative impact decreased to 37 percent, down from 47 percent as of mid-year,” says Brazzell.
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 the “base” year (meaning the Confidence 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 late July 2013. For more information on becoming a participant, contact the company firstname.lastname@example.org .
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.