Eastbridge releases updated report examining carrier commissions and compensation practices in the voluntary market

AVON, CONNECTICUT, USA (June 9, 2020)

Competition for brokers is intense and having an attractive compensation program is vital for carriers to continue gaining market share in the voluntary/worksite market. Excellence in administration, service and product are also very important carrier competencies, but if a broker is not making enough money, sales are going to suffer.

The 2020 Voluntary Carrier Commissions and Compensation Practices Spotlight™ Report provides the latest information on this important topic. Specifically, the report looks at:

• Commissions (e.g.: number of commission schedules, high/low levels, schedules by product, takeover commissions)
• Commission differences by type of enrollment
• Vesting requirements
• Advance practices
• Bonus and other compensation paid
• Payment procedures and reporting
• Compensation changes and future trends

With this data, carriers can examine their current commission and compensation practices as well as emerging future trends to determine if they need to make changes or adjustments to remain competitive.

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