Voluntary sales were $6.89 billion in 2014, according to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report. As has been the case over the past decade, Benefit Brokers are key to achieving this growth.
According to Eastbridge Consulting Group’s 2014 U.S. Voluntary/Worksite Sales Report, the Benefit Broker segment generated over $3.9 billion in new sales. The segment continued to take the largest portion of voluntary/worksite sales, but that share stayed at 57%, the same as in 2013. Career Agents still have the second highest share (at 18%) even though sales from this segment continue to decrease.
The following chart shows the market share by distributor segment.
Segment |
Share of 2014 Sales |
Inc/Dec over 2013 |
Benefit Brokers |
57% |
4.8% |
Career Agents |
18% |
-5.3% |
Classic Brokers |
13% |
8.9% |
Worksite Specialists |
10% |
20.6% |
Occasional Producers |
3% |
-21.5% |
The U.S. Voluntary/Worksite 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.
Carriers interested in participating in next year’s study should 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.