Although prevalent in the group market for years, takeovers in the voluntary/worksite market are a newer phenomenon, increasing in size and importance, and continue to be a hot topic for carriers. According to Eastbridge’s U.S. Voluntary/Worksite Sales Report, takeovers accounted for 54 percent of new business annualized premium (NBAP) in 2016, which is a significant increase from the 12 percent in 2006 (the first year tracked). Despite the year-over-year increase, there seems to have been some stabilization of takeover sales, with only one to two point per-year increases noted in the last five years.
The objective of the Takeovers and the Voluntary Market Spotlight™ Report is to provide comparative data on takeover business as well as takeover trends and practices of voluntary/worksite carriers. Some of the topics covered in the study include:
Takeovers and the Voluntary Market, a Spotlight™ Report
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.