Voluntary sales for 2015 continued the upward path seen in the past. Total voluntary/worksite sales for 2015 are estimated at $7.138 billion, according to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report. This represents a 3.6 percent increase over 2014 sales.
“The market continues to grow and produce positive results,” says Gil Lowerre, Eastbridge president. “Breaking the $7 billion mark in new sales is a milestone.”
The top 15 companies accounted for about 78 percent of total market sales, down just slightly from 79 percent last year. Among the top 15 companies, the average growth rate was 4.2 percent, which is somewhat above the industry rate. Four (4) carriers had decreases, and four had double-digit increases.
Inforce premium increased approximately four percent in 2015 with an estimated inforce premium of $38.8 billion.
The annual U.S. Voluntary/Worksite Sales Report estimates sales for the entire voluntary industry, with detailed data on the performance of more than 60 carriers, both group and individual, and represents the largest number of carriers included in any sales report for the industry.
Carriers interested in participating in next year’s study should email Eastbridge at email@example.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. For further information, contact Jennifer Davis (860) 676-9633