Eastbridge releases report examining voluntary rep compensation trends in the voluntary/worksite market

AVON, CONNECTICUT, USA (September 22, 2020)

In the voluntary/worksite market, distribution is a main area of competitive advantage, as sales results often correlate with the depth and breadth of a carrier’s distribution channel. In addition, because companies compete for many of the same brokers/distributors, having knowledgeable and loyal sales reps to interact with brokers is vital to success in the industry. To create sustained sales growth, carriers need to keep their sales reps happy, which requires continually reviewing and developing attractive compensation opportunities and support services. 

This Spotlight™ Report, Voluntary Rep Compensation , takes a closer look at how today’s carriers are currently compensating and supporting their sales reps and compares responses to previous surveys where applicable for trending purposes. Some of the topics covered include:

• Distribution models for voluntary products
• Base salaries and variable compensation
• Total compensation for “average” and “top” reps
• Expected production levels
• Size of market and region handled
• Number of sales reps and reporting structure
• Types of sales rep support
• Profiles of rep models - voluntary-only and multi-line

With this information, voluntary/worksite carriers can compare their own rep compensation strategy to that of other companies active in the market and assess their competitiveness in this key area.

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