Total voluntary/worksite sales for 2019 are estimated at $8.832 billion, according to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report. This represents a 4.5% increase compared to 2018 sales.
“We are pleased to see the industry continuing to produce positive growth year after year,” says Nick Rockwell, Eastbridge president. “Getting close to $9 billion in new sales is a great achievement.”
The top 15 companies accounted for about 75% of total market sales. Among the top 15 companies, the average growth rate was 4%, which is slightly below the industry rate of 4.5%. Five carriers (among these top 15) had double-digit increases, while two had double-digit decreases.
Inforce premium increased almost 7% in 2019 to an estimated $48 billion.
The annual U.S. Voluntary/Worksite Sales Report estimates sales for the entire voluntary industry, with detailed data on the performance of 70 carriers, both group and individual, and represents the largest number of carriers included in any sales report for the industry.
Carriers interested in participating in next year’s study should email Eastbridge at [email protected]. All participants receive a free copy of the complete findings, including company-specific results.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.