As takeovers in the voluntary/worksite market continue to become more commonplace, carriers must account for this practice in their overall business acquisition and retention strategies. Fifty-six percent of new business annualized premium was reported as takeover premium in 2018, according to Eastbridge’s U.S. Voluntary/Worksite Sales Report. While this represents a significant increase in takeovers from 12% in 2006 (the first year this data was tracked), there has been a stabilization trend in takeover sales over the last few years, with much smaller per-year increases noted than in previous 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.