https://completemarkets.com/Article/article-post/2371/Merge-Or-Acquire-With-Caution/
... much because of poor due diligence and don't get the expected value. You may buy a book of business because it contains a lot of underdeveloped accounts you plan to leverage. But maybe there's a good reason those accounts are languishing-and if they can't be maximized, the buyer probably overpaid for the book. PITFALL NO. 6: POOR INTEGRATION Agents by nature enjoy playing the game more than polishing the trophy. This instinct serves them well in sales, but it can be detrimental when it comes to buying or merging with another agency. Whether it's simply a book of business or an entire agency staff, integrating a newly acquired entity with an existing one takes effective management. Differences in such things as organizational cultures, operations, procedures, and computer systems can lead to friction and possible meltdowns. ... WA 98185, (206) 545-5932, fax (206) 545-5651, E-mail [email protected] . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...
https://completemarkets.com/Article/article-post/579/The-Elephant-Hunter/
...lder hunters would just take the trophies (and the glory). So he decided to go...
https://completemarkets.com/Article/article-post/984/PRODUCER-RELATIONS/
... motivational program must be individualized for each producer but it is also important to tie the fortunes of the salespeople to each other and to the success of the agency. This is where the sales contests come into play. Have a number of different programs going at once, some that are monthly, some quarterly, and at least one that is an annual contest. Rewards can range from a traveling trophy, a weekend in a nearby city, the right to go on an insurance company bonus trip, a 4 or 7 day cruise or ski trip, a monetary bonus. Criteria for winning' can be the producer (or team) with: the largest percentage of growth; the highest commission dollar increase; the highest number of new accounts written; the best hit ratio of written/ ... had hoped for. This article was reprinted with permission from Carol Hammes, editor of the Middleton Letter. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...
https://completemarkets.com/Article/article-post/1465/PRODUCER-COMPENSATION/
... figured what the annual, monthly, and weekly production in Personal and Commercial Lines should be for this producer to reach his goal. A WORD ON PERKS AND INCENTIVES In a recent survey called People, Performance, and Pay, ' the American Compensation Association found that 56% of 657 companies used non-cash incentives to motivate their salespeople. The majority said they used non-cash rewards for: l. their trophy value' - since employees are much more likely to show off a new car, a TV set, or photos from a trip than a large cash amount - and.. 2. their staying power-since the winner will look at the prize for some time to come and remember how and from whom it was earned. In addition to producers' compensation packages, there may be time when additional ... is to define attainable goals and determine a method of compensation that rewards your staff for meeting those goals. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability ...