Benefit Brokers fared the 2020 pandemic best in terms of voluntary sales finds Eastbridge Consulting Group prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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AVON, Conn., May 11, 2021 /PRNewswire/ Total voluntary/worksite sales for 2020 are estimated at $7.463 billion, according to Eastbridge s annual
U.S. Voluntary/Worksite Sales Report. This represents a 15.5% decrease compared to 2019 sales. Undoubtably, we are seeing the direct impact of the COVID-19 pandemic on 2020 voluntary sales, says Nick Rockwell, Eastbridge president. Reduced access to employees and shifts to virtual enrollment methods, along with general uncertainty and disruption, fueled much of the decline.
The top 15 companies accounted for about 72% of total market sales. Among the top 15 companies, the average growth rate was -15.3%, which is better than the industry rate of -15.5%. However, not all top 15 companies experienced decreases. While 10 carriers had sales decreases, five companies had sales increases, including three with double-digit increases.