what is a fair way to pay my insurance account representative staff who do service and sales?my commision 9%?
4:23 am in Insurance sales by The Broker
I currently get approx 9% commision on auto/home sales auto averages 600 every six months. Home about 1000 per year. The staff needs to handle service calls as well but I want them to pivot to another product on that call. I am properly staffed with 3 agents. they tend do just sell auto & home insurance and not the life & health minimal requirements I have set which is 4-5 per month total. they take the base salary of $11.50 . Should I bonus them on the auto & home even though they are missing the other opportunitys I have mentioned. they are basically just taking orders as the phone is ringing off the hook. I want to be fair and keep and retain my loyal team. any suggestions? I would like to get them to pivot to other products and meet the minimum requirements for life & health.
randyrandola said on February 5, 2012
Sounds like you have multiple issues.
1 – the phone is ringing off the hook. Do they have the time to do what you would like?
2 – reduce (or remove) the bonus on the auto & home. Increase the bonus on the life & health.
3 – training. How to pivot, questions to be asked, etc etc.
4 – ask them what is stopping them from doing what you ask – or how would they acomplish such a thing.
Simplistic without knowing a lot more about you and your business.
LifeInsuranceAgent said on February 5, 2012
Partner with an expert in other fields. I have arrangements with P&C agents, annuity agents, etc.. where I strictly handle the life insurance for their clients and refer my life clients to them for P&C.
We do splits on cases. It has been tremdous revenue boost for all parties.