GROWTH-LOADED PRODUCER COMPENSATION by Al Diamond Use this plan to give your producers an incentive to target growth, while protecting the agency from financial losses. Ev...

PRODUCER COMPENSATION: A PRIMER by Al Diamond One of the most common questions that we get each week is 'How much should we pay producers?' The range that weve encountere...

Most insurance agencies would like to be driven by a regular flow of new business from their producer force. However, most agencies find that their producers (owners or not) spend most of their time caring for existing customers, with production relegated to a secondary position. They only have time to prospect and sell when they can break away from service tasks.

However, the producers feel that they should be making more money, whether for non-sales tasks they perform for the agency, for servicing existing customers, or from sales to new customers. Unfortunately, if an agency isn’t growing through the efforts of its producers, it has little additional income available to further compensate these key employees.