Market Overview

Benefit Brokers lead in 2017 voluntary sales, according to an Eastbridge survey

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AVON, Conn., Aug. 02, 2018 (GLOBE NEWSWIRE) -- Voluntary sales were $8.1 billion in 2017, according to Eastbridge's annual U.S. Voluntary/Worksite Sales Report. As has been the case over the last decade, the Benefit Broker segment led the way.  

Benefit Brokers generated $4.82 billion in new sales in 2017 and accounted for 59 percent of all voluntary sales, up from 44 percent just 10 years ago. Career Agents again had the second highest sales at $1.49 billion.  Voluntary brokers (Classic Worksite Brokers and Worksite Specialists) accounted for $995 million and $724 million in sales respectively.  

The following chart shows the market share by distributor segment.  

Segment  2017 Market Share 
Employee Benefit Brokers  59%
Career Agents  18%
Classic Worksite Brokers  12%
Worksite Specialists  9%
Occasional Producers  1%

The annual U.S. Voluntary/Worksite Sales Report estimates sales for the entire voluntary industry, with detailed data on the performance of 66 carriers, both group and individual, and represents the largest number of carriers included in any sales report for the industry.  

Carriers interested in participating in next year's study should email Eastbridge at info@eastbridge.com. All participants receive a free copy of the complete findings, including company-specific results. 

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada. 

FOR FURTHER INFORMATION, CONTACT: 
Ginger Bates (803) 782-0560 

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