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

AVON, CONNECTICUT, USA (May 24, 2016)

Voluntary sales were $7.138 billion in 2015, according to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report. Sales were again led by the Benefit Broker segment this past year.

According to Eastbridge Consulting Group’s U.S. Voluntary/Worksite Sales Report, the Benefit Broker segment generated just under $4.3 billion in new sales in 2015, up by almost eight percent over their 2014 sales figures. The segment now accounts for 60 percent of all voluntary sales, up from 57 percent in 2014. Career Agents still have the second highest share (16%) even though sales from this segment continue to decrease. In 2015, sales by Career Agents were down almost six percent compared to 2014.

The following chart shows the market share by distributor segment.

Segment Mix of 2015 Sales Inc/Dec Over ‘14

Employee Benefit

60%

7.8%

Career

16%

-5.8%

Classic

12%

0.8%

Specialist

10%

1.8%

Occasional

3%

-3.6%

 

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 in the market that are 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. For further information, contact Jennifer Davis (860) 676-9633

 


 

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