EastbridgeConsulting Group's Voluntary Industry Confidence Indexis at its highest level in three years, according to anannouncement released Monday.

|

The overall Confidence Index increased to 99.9, up from 95.9 atyear end 2009 and 92.9 in the mid-year 2009 survey.

|

"We are quite excited to see the index continue to go back up asthose in the industry grow more confident of voluntary's role,"said Gil Lowerre, president of Eastbridge. "We believe this is aresult of both our slowly improving economy as well as theopportunities that those in the industry see with health carereform and employer efforts to control benefit costs while stillproviding employees a way to cover their families."

|

The index is calculated using three key expectation measuresabout the voluntary industry:

  • Sales growth
  • Profitability of the industry
  • Employee enthusiasm about voluntary products

"All three of the key measures for the index were up this time,"said Bonnie Brazzell, vice president, Eastbridge, "but we sawsignificant increases in the questions about industry profitabilityand employee enthusiasm for voluntary."

|

Eighty-two percent of respondents expect employee enthusiasm toincrease, up from 71 percent as of the year-end 2009 survey.Eighty-six percent of respondents in the most recent survey(conducted in July) believe that sales will increase over the next 12 months. [Seerelated: AUL named a voluntary sales growth leader]

|

The Voluntary Industry Confidence Index study isconducted semi-annually and includes responses from individualsactive in the market--carriers, brokers, and vendors.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.