Voluntary Rep Compensation Study, 2010
In the voluntary market, distribution is—and will continue to be—the scarce commodity. Companies in the market often compete for the same distributors. Perhaps that’s why those companies with consistently high growth typically have a “field force” whose job it is to promote voluntary sales among producers/brokers.
The purpose of this study, Voluntary Rep Compensation Study, 2010, is to take a closer look at how today’s carriers are paying their sales reps. Specifically, it examines the compensation practices of 28 carriers including:
- Current distribution model
- Base salary/fixed compensation averages
- Variable compensation payouts
- Other types of compensation paid (e.g.: travel reimbursement, health benefits, retirement benefits, etc.)
- Expected voluntary production levels
- Number and structure of reps promoting voluntary
- Support available to voluntary reps
Where possible, the data is also analyzed by rep type (voluntary-only vs. multi-lines) to show any compensation differences between the two.
With this information, companies can compare their own distribution strategy to that of other companies and take steps to improve their competitiveness.
Order Info: The report is available for purchase for $1,000. To purchase a copy, you can email Eastbridge at info@eastbridge.com or call (860) 676-9633.
Table of Contents
1. Executive Summary
A. Key Study Findings
B. Study Background and Objectives
C. Methodology
2. Analysis of Findings
A. Distribution Model
B. Base Salary/Fixed Compensation
1. Variations by Type of Rep
C. Variable Compensation
D. Total Compensation
E. Variations by Type of Rep
F. Other Types of Compensation
G. Expected Production Levels
1. Variations by Type of Rep
2. Penalties for Not Meeting Expectations
H. Size of Region Handled
I. Mix of Business for Multi-line Reps
J. Sales Reps Number and Structure
K. Sales Rep Support
L. Total Voluntary Sales of Respondent Companies
M. Profiles of Two Rep Models
1. Company Employees Promoting Voluntary-Only Model
2. Company Employees Promoting Voluntary and Other Lines Model
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