Eastbridge Consulting’s recently released report details commission and compensation practices of voluntary/worksite carriers

AVON, CONNECTICUT, USA (December 9, 2014)

In an ever-changing and competitive voluntary market, carriers must catch and keep their distribution channels’ attention in order to maintain a competitive advantage. Product, service and ratings are all key to this endeavor, but successful carriers never overlook the importance of having an attractive and competitive compensation program.

The 2014 Voluntary Carrier Commission and Compensation Practices Spotlight™ Report updates Eastbridge’s past studies on the same topic by examining the compensation practices and policies of top voluntary/worksite carriers. Some of the specific topics covered include:

  • Commission schedules, by product line and by company, for worksite business
  • Enrollment costs and impact on commissions paid for different enrollment types
  • Commission rates for takeover cases
  • Approach to handling vesting and Broker of Record letters
  • Advance practices including eligibility, timing and recapture procedures
  • Bonuses and other types of compensation offered
  • Payment procedures (i.e., types, minimum requirements, etc.)

With this data, carriers can determine key trends as well as examine their own commission and compensation practices to see if any changes or adjustments are needed to stay on the “radar screen” of those all-important distributors.

The cost of the report is $3,500. To purchase, call (860) 676-9633 or email info@eastbridge.com.

Report Summary

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.


 

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