Texas and California led the country in voluntary sales for the third year in a row, according to Eastbridge Consulting Group’s annual U.S. State ESI and EPI Data report. Florida, North Carolina and New York rounded out the top five. Both Florida and New York have been in the top five for the last three years, while North Carolina replaced Illinois as a top five state in this year’s survey.
“The top 15 states accounted for 70% of total voluntary sales in 2016, which is down somewhat from 78 percent in last year’s survey,” says Gil Lowerre, Eastbridge president. “Most of the top 15 states in the current survey are the same as those in prior reports. However, several switched positions on the list. North Carolina made the biggest move from eighth last year to fourth this year. Virginia fell out of the top 15 this year, but Louisiana was back in after a year out of the top 15.”
The report also looks at the penetration of voluntary sales by state (i.e., sales per employed population). States with the highest ESI (65 or greater) for 2016 remained unchanged from 2015. These include:
“A state’s ESI can be significantly different from the sales,” says Bonnie Brazzell, vice president Eastbridge. “For example, New York and California have high sales but a relatively low ESI of just 34 and 35 respectively. This is much lower than the national ESI number of 50. This indicates that, despite the high sales in these states, there is still untapped potential,” explains Brazzell.
The annual ESI for each state is calculated based on a rolling three-year average of voluntary sales reported by carriers. That average is then divided by the employed population for each state. For this year’s survey, the rolling average included 2016, 2015, and 2014 voluntary sales results.
The U.S. State ESI and EPI Data report is an adjunct to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report and includes sales and inforce data by state, as reported by the survey participants.
U.S. State ESI and EPI Data, a Frontline™ Report
The report is free but available only to survey participants. For more information on becoming a participant in the next annual survey, contact the company at firstname.lastname@example.org or call (860) 676-9633.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.