Benefit Brokers continue to increase their share of the voluntary market, according to an Eastbridge survey

AVON, CONNECTICUT, USA (May 27, 2014)

Voluntary sales increased 4.3% to $6.644 billion in 2013, according to Eastbridge’s annual U.S. Worksite/Voluntary Sales Report. As has been the case over the past several years, Benefit Brokers are key to achieving this growth. 

According to Eastbridge Consulting Group’s 2013 U.S. Worksite/Voluntary Sales Report, the Benefit Broker segment generated almost $3.8 billion in new sales. The segment continued to take the largest portion of voluntary/worksite sales, increasing its share to 57% in 2013, up from 56% in 2012. Career Agents still have the second highest share (at 19%), but that is down from 21% in 2012. The Classics decreased its share of voluntary sales in 2013 from 14% to 12%. 

The following chart shows the market share by distributor segment.

Segment
Share of 2013 Sales

Benefit Brokers

57%

Career Agents

19%

Classic Brokers

12%

Worksite Specialists

8%

Occasional Producers

4%

 

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

The U.S. Worksite/Voluntary Sales Report is available only to Eastbridge Information Partner™ Subscribers as well as to participants. For more information on becoming a participant, email us 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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