Confidence in the future of the voluntary employee benefits industry has rebounded in the industry, especially among brokers, according to a new survey.
The latest results of Eastbridge Consulting Group’s Voluntary Industry Confidence Index survey show the overall index increased to 92.9 by midyear, up from 88.8 at the end of 2008.
“In the latest survey findings, we see that brokers are more positive than they were 6 months ago–and more positive than our carrier respondents,” says Bonnie Brazzell, vice president of Eastbridge, Avon, Conn.
In the year-end survey for 2008, 66% of brokers expected an increase, 26% expected a decrease, and 9% expected that sales would stay about the same in the year ahead.
“Today, 81% of brokers believe there will be increases over the next 12 months, with one-third claiming that sales will ‘increase a lot,’” says Brazzell. “On the carrier side just 68% expect sales to increase.”
Only 7% of carriers believed that sales will fall in the next 12 months, vs. 19% of carriers.