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renewal commissions
Articles tagged with renewal commissions
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OPTIMAL LONG-TERM PRODUCER INCENTIVES by Larry Morrison and Gary Jacobson The optimal program for producers involves training and support, short-term compensation and in...
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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...
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PRODUCER EQUITY POSITIONS by Al Diamond Never offer equity in a producer's created book of business. Well, 'never' may be too absolute. Let me put it this way. Never offer equity only ...
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PRODUCER EQUITY: GOOD IDEA OR BAD? by Al Diamond Never offer equity only in a producers book of business if the goal is to reward a producer for success or to cement the re...
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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.
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SPREADING LIFE WEALTH AMONG EMPLOYEES by George Nordhaus Dave Warren of Dodge, Warren and Peters, Torrance, California has a whole new insight into how to get many people in the age...
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THE BENEFITS OF HAVING A LIFE BOOK A CASE HISTORY This is a true story. A P/C agency owner sold his agency to a buyer who was not interested in, nor equipped to handle, the Life business. (Too b...
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THE CONSULTANT CONTRACT by Paige Proctor So you decided to hire a consultant. You received the proposal and liked what it said. You then checked the references and decided to move the propos...
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THE ROLE OF LIFE IN A MERGER Recently, we discussed the role and potential of Life/Health production in agency clusters. Related but different factors are involved in the buying, selling...
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VALUING INSURANCE AGENCIES by Al Diamond One Time, One and One-Half Times, Two Times. Multiple of Commissions, Multiple of Revenues, Multiple of Earnings. In this document, Al Diamond t...