Award recognizes outstanding growth in voluntary market
Eastbridge Consulting Group has named Aetna the 2021 Voluntary Sales Growth Leader in the midsize carrier category for its outstanding sales growth. The award recognizes carriers that exhibited stronger-than-average growth in voluntary sales for the past three years. The midsize category includes carriers with $50 million to $149.9 million in new business annualized premium.
Each year after Eastbridge publishes its U.S. Voluntary/Worksite Sales Report, the company recognizes carriers that exhibited stronger-than-average growth in voluntary sales for the past three years. Numerous companies saw growth in 2021 as the voluntary market rebounded strongly, according to the report. Voluntary sales totaled nearly $8.3 billion in 2021, up 11.3% compared to 2020.
“Aetna’s 25.4% sales growth in 2021 was more than double the industry average,” said Nick Rockwell, president of Eastbridge. “The company stayed in the ‘plus’ side in 2020 despite the pandemic and on top of a whopping 172% increase the year before, when sales nearly tripled from $42 million in 2018 to $115 million in 2019.”
“We’re honored to receive this recognition from Eastbridge Consulting Group,” said Randy Finn, executive director of Aetna Voluntary. “Every day the Aetna Voluntary team works hard to ensure we’re delivering a superior product — and it clearly shows through our significant growth. We’re committed to a culture of innovation that simplifies the member experience, increases engagement, and delivers integrated value with Aetna medical and across CVS Health.”
All carriers participating in the survey with at least $10 million in annual sales are eligible to win the Voluntary Sales Growth Leader recognition. To be considered for the award this year, a company must have exceeded the overall industry growth rate in 2021 and in 2019, and had a positive increase of any amount in 2020. In addition to midsize companies, Eastbridge recognizes small companies with NBAP of $10 million to $49.9 million and large companies with NBAP of $150 million or more that meet the criteria.
All carriers participating in the voluntary/worksite sales survey receive a free copy of the survey findings, including company-specific results. Carriers not currently participating that would like to be included in next year’s survey can contact Eastbridge at [email protected] or call (803) 782-0560.
About Eastbridge Consulting Group — Eastbridge Consulting Group, Inc. is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada.