Latest Eastbridge research shows major carriers continue to dominate voluntary/worksite market

AVON, CONNECTICUT, USA (July 8, 2025)

New report analyzes key data on top voluntary competitors

The top 15 companies in the voluntary/worksite market grew an average of 6% last year, three times the rate of the overall industry, according to Eastbridge Consulting Group’s new Voluntary/Worksite Marketing Industry Snapshot and Competitor Profiles Spotlight™ report.

The report shows the industry’s 15 sales leaders accounted for nearly 71% of the market in 2024, a slight drop from the previous two years, although the majority of these carriers saw sales growth, including six companies with double-digit increases.

“The largest voluntary carriers continue to hold very strong market share, with the top two alone accounting for 25% of the market,” said Danielle Lehman, Eastbridge senior consultant. “However, many of their smaller competitors have shown very impressive double-digit growth in recent years.”

Eastbridge’s Voluntary/Worksite Marketing Industry Snapshot and Competitor Profiles Spotlight™ report combines primary and secondary research from numerous projects to examine sales, in-force premium, and product and distribution trends in the voluntary marketplace. It also provides a competitive analysis of 10 of the top players in the market, including their corporate structure, financial results and ratings, average case size and target markets, commissions, distribution channels, products offered, and administration details.

Other key findings in the report include:

• Group product sales continue to grow at a notably higher rate than individual products, and now account for 78% of the market.
• Term life insurance dominates the voluntary industry with nearly twice the market share as the next closest product, dental insurance. But supplemental insurance coverages such as critical illness and hospital indemnity are generating
• Employee benefit brokers — producers who focus on employee benefits, particularly traditional employer-paid group benefits, and generally offer voluntary products as an additional line —account for more than two-thirds of all voluntary product sales.