Eastbridge Consulting Group has named Assurity the 2021 Voluntary Sales Growth Leader in the small carrier category for its outstanding sales growth. This is the fourth year in a row Assurity has earned the annual recognition from Eastbridge for companies with $10 million to $49.9 million in sales.
Each year after Eastbridge publishes its U.S. Voluntary/Worksite Sales Report, the company recognizes carriers that exhibited stronger-than-average growth in voluntary sales for the past three years. Numerous companies saw growth in 2021 as the voluntary market rebounded strongly, according to the report. Voluntary sales totaled nearly $8.3 billion in 2021, up 11.3% compared to 2020.
“Assurity has shown outstanding growth for the last decade, including an increase of more than 19% in 2021,” said Nick Rockwell, president of Eastbridge. “Even in 2020 when much of the industry saw decreases due to the pandemic, Assurity showed sustained growth of 5% over 2019. That’s on top of 66% and 54% growth rates over the previous two years —a significant achievement.”
“Recent years were not without challenges, but we maintained our momentum by focusing on bringing value to our brokers, their employer clients and our insureds,” said Jack Douglas, Assurity’s vice president of worksite sales. “The most gratifying result of our tremendous growth is the increase in the number of families added to the ranks of those with financial protection from Assurity to help them through life’s difficult times. This recognition is a tribute to our dedicated sales team, distribution network and support personnel working together to make each day better than the last. We look forward to continued growth in 2022 and beyond.”
All carriers participating in the survey with at least $10 million in annual sales are eligible to win the Voluntary Sales Growth Leader recognition. To be considered for the award this year, a company must have exceeded the overall industry growth rate in 2021 and in 2019, and had a positive increase of any amount in 2020. Small companies are those with new business annualized premium of $10 million to $49.9 million. Midsize companies are those with NBAP of $50 million to $149.9 million, and large companies are those with NBAP of $150 million or more.
All carriers participating in the voluntary/worksite sales survey receive a free copy of the survey findings, including company-specific results.
