Voluntary sales totaled over $8.8 billion in 2019, 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 for the second year in a row based on voluntary sales, with a 66% increase over 2018 results,” says Nick Rockwell, president of Eastbridge. This is the fourth year of double-digit growth for Assurity’s voluntary business. Voluntary sales for 2018 and 2017 increased by 54% and 24%, respectively, over the prior year. “Achieving double-digit growth for four consecutive years is not easy, and Eastbridge congratulates Assurity on its success,” adds Rockwell.
“We’ve long valued Eastbridge’s research and service to the industry, and are honored that they’ve recognized Assurity as the Voluntary Sales Growth Leader for the second year in a row,” says Todd Reimers, Senior Vice President, Chief Marketing and Sales Officer for Assurity. “Our growth is truly a reflection of the efforts and commitment of all of our Assurity associates. Four consecutive years of double-digit voluntary sales growth do not happen without a dedicated sales team, distribution network and support personnel working together to help people through difficult times. We continue to simplify, streamline and invest in our processes, and it’s gratifying to see those efforts pay off and our growth recognized.”
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.
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 [email protected] or call
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.