AVON, Conn., June 25, 2019 (GLOBE NEWSWIRE) -- Voluntary sales were almost $8.5 billion in 2018, 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 almost $5.0 billion in new sales in 2018 and accounted for 59% of all voluntary sales, up from 46% just 10 years ago. Career Agents again had the second highest sales at $1.5 billion. Voluntary brokers (Classic Worksite Brokers and Worksite Specialists) accounted for $1.15 million and $719 million in sales respectively.
The following chart shows the market share by distributor segment.
| Segment | 2018 Market Share | Inc/Dec Over ‘17 |
| Employee Benefit Brokers | 59% | 3% |
| Career Agents | 18% | 3% |
| Classic Worksite Brokers | 14% | 16% |
| Worksite Specialists | 9% | -1% |
| Occasional Producers | 1% | -15% |
The annual U.S. Voluntary/Worksite Sales Report estimates sales for the entire voluntary industry, with detailed data on the performance of 67 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