Takeovers and the Voluntary Market

Cost: $3000; published 2023

As the voluntary/worksite market matures, takeovers continue to challenge and shape carriers’ business acquisition and retention strategies. Carriers report more than half (52%) of their 2022 new business annualized premium was from takeovers, according to Eastbridge’s U.S. Voluntary/Worksite Sales Report, a percentage that has remained fairly steady for the last five years.

The Takeovers and the Voluntary Market Spotlight™ Report provides comparative data on takeover business, as well as takeover trends and practices of voluntary/worksite carriers. Some of the topics covered in the study include:

  • Changes in takeover business volume in the last three years
  • Anticipated takeover volume in the next three to five years
  • Takeover business approach and preferences
  • Detailed takeover practices by carrier
  • Takeover percentages by product and case size
  • Differences in takeover levels by case size and commission type
  • Typical case duration before takeover
  • Carrier strategies for reducing takeovers
  • Future trends and concerns about takeover business

View Table of Contents

1. Executive Summary

A. Study Objectives

B. Methodology

C. Key Findings

2. Takeover Trends & Carrier Approach

A. Recent Takeover Business Volume

B. Future Takeover Business Volume

C. Takeover Business Approach

1. Company Attitude towards Takeovers

2. Case-Type Preference

3. Takeover Practices by Carrier

A. Matching Benefits on Takeovers

B. Matching Rates for Takeovers

C. Special Underwriting Requirements

D. Guaranteed Issue Offer and Buy-up Opportunities

E. Claims Experience for Takeovers

F. Verification of Prior Coverage for Takeovers

G. Waiver of Pre-Existing

H. Reduction/Modification of Takeover Commissions

I. Loss Ratio Differences

J. Persistency/Retention Differences

K. Other Takeover Rules or Practices

4. Takeover Results and Concerns

A. Overall Voluntary Takeover Percentage

B. Percent of Takeovers by Product

C. Percent of Takeovers by Case Size

D. Differences in Takeover Levels by Case Size

E. Takeover vs. “Virgin” Sales by Product for 2022

F. Typical Duration for Group Before Takeover

G. Takeover Rates by Commission Type

H. Strategy for Reduction of Takeovers

I. Future Concerns about Takeovers

5. Respondent Demographics

A. Voluntary Platform

B. Voluntary/Worksite 2022 NBAP



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