Sales Results by Employer Size Reveal Some Interesting Market Penetration Numbers, According to a Recently Released Eastbridge Report

AVON, Conn.--()--The largest employer size category (with 2,500 or more employees) accounted for about one-third of all voluntary sales in 2016, according to Eastbridge Consulting Group’s annual U.S. State ESI and EPI Data report. The report reveals sales by employer size and also calculates a penetration index (ESI) by dividing sales by the number of employees in the U.S. in each employer size category. The penetration index shows that the smallest employer segments are the least penetrated.

Segments with the highest penetration (an ESI of over 100) in the most recent survey include employers with 500 to 2,500 employees. Our nationwide ESI number is 50 (total sales divided by total employed population). The following chart shows the results by employer size.

Sales by Employer Size 2016

 
Employer Size       Voluntary Sales
(in millions)
      ESI
<10 employees       $346       28
10-25 employees       $446       35
26-99 employees       $1,106       76
100-499 employees       $1,383       85
500-999 employees       $1,008       161
1,000-2,500 employees       $864       104
>2,500 employees       $2,476       55
Overall market       $7,630       50
 

An ESI calculation is reported for sales by state as well as by employer size. A high ESI indicates that the segment is being heavily pursued, while a lower ESI indicates untapped potential. In some cases, this is despite high sales in the segment. The over-2,500 employee market is one example, with the highest sales but not the highest ESI.

The U.S. State ESI and EPI Data report is an adjunct to Eastbridge’s annual U.S. Voluntary/Worksite Sales Report and includes sales and inforce data by state, as reported by the survey participants. The report is free but available only to survey participants. For more information on becoming a participant in the next annual survey, contact the company at info@eastbridge.com or call (860) 676-9633.

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

Contacts

Eastbridge Consulting Group
Ginger Bates, 803-782-0560

Contacts

Eastbridge Consulting Group
Ginger Bates, 803-782-0560