New Eastbridge Report Examines the Worksite Market

AVON, CONNECTICUT, USA (October 5, 2004)�Today, there are over 120 insurance companies active in worksite marketing and voluntary products. The market grew in 2003 at about seven percent and sales were in excess of $4.3 billion.

Although the worksite market is growing�and one that many carriers have found to be profitable�the market continues to have many small players. Consider these facts:

  • The top 15 companies account for over 75 percent of the market share.
  • The top two carriers alone have almost 35 percent of the market.
  • Only five carriers have market shares of five percent or more.

Eastbridge’s 2004 Worksite Marketing Industry Snapshot and Competitor Profiles Spotlight Report examines the worksite marketplace; specifically, sales, inforce premium, and product and distribution trends. In addition, the report provides a competitive analysis of fourteen key players in the worksite market. Each profile includes the following information (where information is available):

  • Business Profile�Corporate structure, years in worksite business, financial results/ratings, number of employees in worksite

  • Marketing�Importance of worksite business, percent of overall business, average case size, target markets

  • Distribution�Channels, commissions, enrollment/re-enrollment method

  • Products�Platform, products offered, percentage of business

  • Operations�Administration, service, technology

  • Strengths and Weaknesses�Company’s strengths relative to competitors, areas of weakness

All information presented in the report has been updated for 2004; the sales and results data is for year-end 2003. A complete table of contents is available by clicking here. The report is available for purchase for just $750. Interested parties can contact the company at info@eastbridge.com or (860) 676-9633.

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