Sales growth predictions range from 2% to 8% over next four years
Voluntary benefit sales are projected to return to historical levels over the next four years, according to models in Eastbridge Consulting Group’s most recent research.
The Forecasting Voluntary Sales Spotlight™ Report analyzes the current sales environment and future potential sales for the voluntary market. The report includes projections based on Eastbridge’s current views of the sales environment and offers three different scenarios. This information can serve as a platform for discussion and help benefits carriers develop their own predictions for future opportunities in the voluntary market.
“Voluntary sales are affected by many different factors, including government regulation, economic conditions, and the lingering effects of the pandemic,” said Danielle Lehman, Eastbridge senior consultant. “But the voluntary market overall has been fairly resilient, bouncing back to near pre-pandemic levels with a 17.3% increase over the past three years.”
The new report suggests a return to pre-pandemic levels of sales growth over the next several years, ranging from 6% to 8% from 2023 to 2026. Growth rates likely would be lower if the U.S. experiences continued inflation or a recession.
Forecasting Voluntary Sales, a Spotlight™ Report
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.