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

AVON, CONNECTICUT, USA (April 29, 2015)

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.


 

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