(Chicago, IL) June 11, 2019 –Voluntary benefits sales in 2018 totaled over $8.5 billion and were up 4.5% compared to 2017 results, according to Eastbridge Consulting Group’s annual U.S. Voluntary/Worksite Sales Report.
“Annually, we recognize those companies that led the industry in voluntary sales growth,” says Gil Lowerre, president of Eastbridge. “This year we recognize Chubb as the leader in the mid-size category ($50 million to $149.9 million in new business sales) driven by the growth of Chubb Workplace Benefits, the broker-focused channel for mid-sized and large group voluntary benefits.”
This is the fourth time the company has won a growth award, winning in the mid-size category in 2015 and 2016 and in the small category in 2014. “We congratulate Chubb’s workplace business units for outstanding growth over an extended number of years, achieving a 30% increase in 2018 over 2017 sales and a 34% increase in 2017 from 2016 sales,” adds Lowerre.
“We are honored to receive Eastbridge’s recognition for the fourth time in the last five years. We share this recognition with our brokers, consultants, and enrollment firm partners, as well as our Chubb P&C colleagues,” says Chris Martin, president of Chubb Workplace Benefits. “We are very pleased that our solutions have been well received by many industry-leading benefits brokers and their clients.”
“We plan to maintain our accelerated growth within our workplace business units by continuing to leverage Chubb’s strong relationships with national and regional brokerage firms and investing in our operations and claims service teams, as well as the corresponding technology support,” said Martin.
Carriers participating in Eastbridge’s annual U.S. Voluntary/Worksite Sales Report that have a minimum of $10 million in annual sales are eligible to be considered for the Voluntary Sales Growth Leader recognition. A company must also have exceeded the overall industry growth rate for each of the last three years and lead in sales growth for the current year. The category parameters can change from year to year as the market grows, but this year the small company category includes those with 2018 sales as measured by new business annualized premium (NBAP) of over $10 million but under $50 million. Mid-size companies are those with $50 million to $149.9 million in NBAP, and large companies are those with NBAP of $150 million or more.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.
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About Combined Insurance
Combined Insurance Company of America (Chicago, Ill.) is a leading provider of supplemental accident & health, disability, and life insurance products and a Chubb company. With a tradition of nearly 100 years of success, Combined Insurance is committed to making the world of supplemental insurance easy to understand. The company has an A+ rating by the Better Business Bureau and is one of Ward’s Top 50® Performing Life-Health Insurance Companies. Combined Insurance is ranked the number one Military Friendly® Employer in the over $1B revenue category for 2019 by VIQTORY. This is the company’s eighth consecutive year on the top 10 list and fifth consecutive year in the top 5—Combined Insurance was previously named the number one Military Friendly® Employer in the nation for 2015 and 2016.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: www.chubb.com.