Eastbridge releases updated report examining carrier takeover practices in the voluntary market

AVON, CONNECTICUT, USA (April 7, 2020)

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 Spotlightâ„¢ 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:

  • Changes in takeover business volume in the last three years
  • Anticipated takeover volume in the next three to five years
  • Takeover business approach and preferences
  • Detailed takeover practices by carrier
  • Takeover percentages by product
  • Differences in takeover levels by case size and commission type
  • Typical case duration before takeover
  • Carrier strategies for reduction of takeovers
  • Future trends and concerns about takeover business

Takeovers and the Voluntary Market, a Spotlightâ„¢ Report

The cost of the report is $2,500. To purchase, call (860) 676-9633 or email us at info@eastbridge.com.

Report Summary

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.


 

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