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Benefit Brokers still lead the pack in voluntary market share in 2012, according to an Eastbridge survey

AVON, CONNECTICUT, USA (May 17, 2013)

Overall voluntary sales were up in 2012 at $6.030 billion in premium and the largest producer segment, Benefit Brokers, helped drive this with increased sales. According to Eastbridge Consulting Group’s 2012 U.S. Worksite/Voluntary Sales Report, the segment generated about $3.4 billion in new sales, an eight percent increase over 2011 sales.  The Benefit Brokers’ share of total voluntary sales is now at 56 percent, up from 55 percent last year.   

Career Agents again had the second highest share at 21 percent, and the Classics segment increased its share from 14 to 16 percent.  All segments showed a sales increase in 2012.

The following chart shows the sales by distributor segment and each segment’s increase over 2011results.

Segment
2012 Sales
(millions)
Inc/Dec Over 2011

Benefit Brokers

$  3,381.4

8%

Career Agents

$  1,253.7

6%

Classic Brokers

$     822.9

3%

Worksite Specialists

$     483.3

6%

Occasional Producers

$       88.7

2%

 

The U.S. Worksite/Voluntary Sales Report estimates sales for the entire voluntary industry, with detailed data on the performance of 65 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 insurance and financial services organizations in the United States and Canada.

 

 

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