Voluntary sales totaled over $8.5 billion in 2018, up 4.5% compared to 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 million to $49.9 million in sales), Assurity was the fastest growing company based on voluntary sales with a 54% increase over 2017 results,” says Gil Lowerre, president of Eastbridge. This is the third year of double-digit growth for Assurity’s voluntary business. Voluntary sales for 2017 and 2016 increased by 24% and 49%, respectively, over the prior year. “Achieving growth of this level – especially for three consecutive years – is not easy to do, and Eastbridge congratulates Assurity on its success,” adds Lowerre.
“We’re immensely proud of all of our Assurity associates for the work they do every day to build an organization where this kind of growth is possible,” says Chad Bodner, Vice President of Worksite Sales for Assurity. “You don’t see these kind of results without serious dedication from our sales team and distribution network as they work to help people through difficult times. Eastbridge’s consultancy helped set us on a trajectory for success and we’ve spent the last few years simplifying and streamlining our processes. It’s gratifying to see that effort pay off and to be recognized for our performance and growth.”
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 2018 sales as measured by new business annualized premium (NBAP) of over $10 million but under $50 million. Mid-size companies are those with $50 million to $149.9 million in NBAP and large companies are those with NBAP of $150 million or more.
U.S. Voluntary/Worksite Sales Report, a Spotlight™ Report
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 [email protected] 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.