Voluntary sales totaled $8.1 billion in 2017, up almost 7 percent over the previous year’s results, according to Eastbridge Consulting Group’s annual U.S. Voluntary/Worksite Sales Report.
“This year in the small category ($10-$49.9 million in sales), American Public Life was the fastest growing company based on voluntary sales with a 32 percent increase over 2016 results,” says Gil Lowerre, president of Eastbridge. This is the third year of double-digit growth for American Public Life’s voluntary business. Voluntary sales for 2016 and 2015 increased by 30 percent and 24 percent, respectively, over the prior year. “Achieving growth of this level is no small feat, and Eastbridge congratulates American Public Life on its success,” adds Lowerre.
“We’re honored to again be recognized by Eastbridge Consulting for our consistent sales growth,” stated Jim Pate, American Public Life President/CEO. “Although we’ve celebrated our record-breaking years internally with our colleagues, it’s gratifying for our success to be acknowledged by industry leaders. American Public Life has evolved into an organization known for our products, integrity and service. We’re blessed to work with a wonderful group of broker partners, and celebrate this honor with them, as well as our outstanding colleagues.”
Each year after the U.S. Voluntary/Worksite Sales Report is published, Eastbridge recognizes companies that exhibited stronger than average growth of voluntary sales for the past three years. All carriers participating in the survey with a minimum of $10 million in annual sales are eligible to win the Voluntary Sales Growth Leader recognition. To be considered for the award, a company must have exceeded the overall industry growth rate for each of the last three years and lead in sales growth for the current year. The category parameters can change from year to year as the market grows, but this year the small company category includes companies with 2016 sales as measured by new business annualized premium (NBAP) of over $10 million but under $50 million. Mid-size companies are those with $50-$149.9 million in NBAP and large companies are those with NBAP of $150 million or more.
All carriers participating in the 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.