Total voluntary/worksite sales for 2017 are estimated at $8.1 billion, according to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report. This represents almost a seven percent increase over 2016 sales.
“Two consecutive years of almost seven percent growth is significant,” says Gil Lowerre, Eastbridge president. “We are encouraged to see the continued focus and investment in the voluntary marketplace paying off in producing positive results year after year.”
The top 15 companies accounted for about 78 percent of total market sales. Among the top 15 companies, the average growth rate was 9 percent, which is slightly above the industry rate of 6.8 percent. Four carriers (among these top 15) had decreases, while five had double-digit increases.
Inforce premium increased approximately three percent in 2017 to an estimated $42 billion.
The annual U.S. Voluntary/Worksite Sales Report estimates sales for the entire voluntary industry, with detailed data on the performance of 66 carriers, both group and individual, and represents the largest number of carriers included in any sales report for the industry.
All carriers participating in Eastbridge’s voluntary/worksite sales survey receive a free copy of the survey findings, including company-specific results. If you are a carrier that is not participating and would like to be included in next year’s survey, please email the company at firstname.lastname@example.org or call (803) 782-0560.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.