AVON, Conn., April 07, 2020 (GLOBE NEWSWIRE) -- As takeovers in the voluntary/worksite market continue to become more commonplace, carriers must account for this practice in their overall business acquisition and retention strategies. Fifty-six percent of new business annualized premium was reported as takeover premium in 2018, according to Eastbridge’s U.S. Voluntary/Worksite Sales Report. While this represents a significant increase in takeovers from 12% in 2006 (the first year this data was tracked), there has been a stabilization trend in takeover sales over the last few years, with much smaller per-year increases noted than in previous years.
The objective of the Takeovers and the Voluntary Market Spotlight™ Report is to provide comparative data on takeover business as well as takeover trends and practices of voluntary/worksite carriers. Some of the topics covered in the study include:
- Changes in takeover business volume in the last three years
- Anticipated takeover volume in the next three to five years
- Takeover business approach and preferences
- Detailed takeover practices by carrier
- Takeover percentages by product
- Differences in takeover levels by case size and commission type
- Typical case duration before takeover
- Carrier strategies for reduction of takeovers
- Future trends and concerns about takeover business
The report is currently available for purchase for $2,500. For additional information or to purchase the report, visit the report page by clicking here, e-mail info@eastbridge.com, or call (860) 676-9633.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada.
FOR FURTHER INFORMATION, CONTACT:
Ginger Bates (803) 782-0560