AVON, Conn.--(BUSINESS WIRE)--Predictions for future sales for the voluntary market can be impacted by many factors including unmet demand, market interest, employee willingness to buy, employer willingness to offer and the movement from employer-funded to employee-funded benefits. Consider these facts:
- There are roughly 114 million employees in the U.S. and of these, only 43 million currently own just one voluntary product.
- If every employee owned voluntary, the inforce premium for the market would be in excess of $92 billion based on today’s averages.
- Once an employer offers a voluntary product, they tend to offer more than one. In fact, most of today’s employers, regardless of size, offer three to five products to their employees, and offering six or more products is not uncommon.
The report explores another factor in the equation—the broker community’s ability and willingness to meet the unmet demand of employers and employees. Eastbridge contends that Employee Benefit Brokers will continue to become more involved in voluntary and will have a significant impact on the market’s future growth.
The report, Forecasting Voluntary Sales, looks at all the factors and arrives at several different scenarios and methodologies for forecasting voluntary sales. With this information, carriers can develop their own viewpoints of the future opportunities in voluntary sales. The objective is not to convince carriers and others in the industry that Eastbridge forecasts are “right,” but to use it as a basis for encouraging dialogue within companies to discover their own views.
The report is currently available for purchase for $1,000. For more information or to order, call today at (860) 676-9633 or email Eastbridge at email@example.com.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.