Washington National sales growth leads
medium carrier category
AVON,
Conn., June 20, 2024 /PRNewswire/ -- Eastbridge
Consulting Group has named Washington National Insurance Company
the 2023 Voluntary Sales Growth Leader in the midsize carrier
category for its outstanding sales growth. Washington National
reported sales growth of 29% in 2023, 20% in 2022 and 14% in 2021
to earn the annual recognition from Eastbridge for companies with
$50 million to $149.9 million in new business annualized
premium.
Eastbridge recognizes carriers that exhibited voluntary sales
growth above industry averages for the previous three years after
publishing its annual "U.S. Voluntary/Worksite Sales Report." The
voluntary/worksite market continued to surge ahead in 2023 with
total new business annualized premium of $9.34 billion, a 6.7% increase over 2022.
"Washington National's $53.5
million in sales last year was driven by incredibly strong
growth in 2023, capping three straight years of double-digit
increases significantly above industry averages," said Nick Rockwell, president of Eastbridge.
"We are honored to be recognized for the growth of our voluntary
benefits insurance sales in 2023, a year when we also increased our
agent force, expanded our geographic footprint and released
refreshed accident and critical illness insurance products that
drove agent and client engagement," said Karen DeToro, president, Worksite Division at
CNO Financial Group. "This award recognizes our continued
commitment to growing our worksite business, serving our clients,
and building a premier career destination for agents. We are proud
of the value and trusted guidance our agents and family of brands,
including Washington National and Optavise, bring to the employers
and employees we work with across the country."
All carriers participating in the "U.S. Voluntary/Worksite Sales
Report" 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
rates of 6.7% in 2023, 5.4% in 2022 and 11.35% in 2021. 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.
Participating carriers receive a free copy of the survey
findings, including company-specific results. Carriers not
currently participating that would like to be included in next
year's survey can contact Eastbridge at info@eastbridge.com or
(803) 782-0560.
About Eastbridge Consulting Group
Eastbridge
Consulting Group, Inc. is a marketing advisory firm serving
companies focused on the voluntary/worksite benefits
market in the United States
and Canada. Follow Eastbridge on LinkedIn
at
https://www.linkedin.com/company/eastbridge-consulting-group.
About Washington National Insurance
Company
Washington National Insurance Company, a
subsidiary of CNO Financial Group, Inc., has helped
Americans since 1911 to protect themselves and their families from
the financial hardship that often comes with critical illness,
accidents or loss of life. The company's supplemental health and
life insurance products are designed to help give policyholders and
their loved ones' peace of mind. Policyholders can depend on
Washington National to be a strong, caring partner in helping to
provide financial security for them and their families. To
learn more,
visit WashingtonNational.com.
CONTACT: Ginger Bates
EMAIL: gbates@eastbridge.com
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SOURCE Eastbridge Consulting Group