AVON, Conn.--(BUSINESS WIRE)--
According to Eastbridge Consulting Group’s U.S. State ESI and EPI Data for 2013 report, the employer segment with over 2,500 employees accounted for the largest volume of voluntary sales again last year. This segment accounted for 36 percent of all voluntary sales, up from 33 percent in 2012.
Voluntary Sales by Employer Size
|Employer Size Segment||Mix of Sales|
“The sales numbers alone, however, do not tell the whole story,” says Gil Lowerre, president, Eastbridge. “If you look at the ESI (sales divided by the employee population) for each employer size, you can better tell which segments are well penetrated and which are still underpenetrated,” adds Lowerre.
For 2013, the 500-999 segment continues to have the highest ESI, followed closely by the 1,000-2,500 segment, indicating both have good penetration. The least penetrated segments are the two smallest ones—under 10 lives and 10 to 25 lives. “This comes as no surprise,” says Bonnie Brazzell, Eastbridge vice president, “since many carriers and brokers do not write in these smaller segments. However, it is interesting that 2,500 or more employee segment had the third lowest ESI. This segment is obviously still underpenetrated despite having the highest sales.”
|Employer Size Segment||ESI|
This fourth annual report includes state-by-state sales and inforce data and provides two measures that relate these data to the number of employed Americans in each state. The ESI (Eastbridge Sales Index) and EPI (Eastbridge Premium Index) provide real sales coverage (ESI) and penetration (EPI) measures on a state level. In addition, the report provides information on sales by employer size and inforce premium by line of business. This information changes the way carriers can look at real sales coverage and penetration and, therefore, the opportunity for voluntary expansion.
The report is an adjunct to Eastbridge’s annual U.S. Worksite/Sales Report© and is free but available only to carriers that provide their state sales data as a part of the survey. For more information on becoming a participant in the 2014 survey, contact the company at email@example.com or call (860) 676-9633.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.
- Employment & Career
Ginger Bates, 803-782-0560