MassMutual sales growth leads small carrier category.
Eastbridge Consulting Group has named MassMutual the 2022 Voluntary Sales Growth Leader in the small carrier category for its outstanding sales growth. MassMutual reported sales growth of 32.5% in 2022 and 58.3% in 2021 to earn the annual recognition from Eastbridge for companies with $10 million to $49.9 million in sales.
Eastbridge recognizes carriers that exhibited stronger-than-average growth in voluntary sales for the previous three years after publishing its annual “U.S. Voluntary/Worksite Sales Report.” Numerous companies saw growth in 2022 as the voluntary market continued its post-pandemic recovery, according to the report. Voluntary sales totaled $8.75 billion in 2022, an increase of 5.4% over 2021.
“MassMutual has been on an impressive trajectory the last several years,” said Nick Rockwell, president of Eastbridge. “Sales growth of nearly 33% on top of even more exceptional growth the year before shows MassMutual is on the right track.”
“Being recognized as the 2022 Voluntary Sales Growth Leader in the small carrier category speaks volumes to MassMutual’s strategy and vision of making financial well-being a reality for working Americans — one case at a time,” said Shefali Desai, MassMutual head of worksite. “Voluntary benefits can play a critical role in providing affordable access to the financial security employees and their families need today and tomorrow.”
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 2022 and in 2021, and had a positive increase of any amount in 2020. Small companies are those with new business annualized premium of $10 million to $49.9 million. Midsize companies are those with NBAP of $50 million to $149.9 million, 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. Carriers not currently participating that would like to be included in next year’s survey can contact Eastbridge at [email protected] or (803) 782-0560.
About Eastbridge Consulting Group — is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada. Follow Eastbridge on LinkedIn.