Just wondering if anyone would be willing to share their compensation plan for either Personal Lines or Commercial Lines CSRs who solicit new business. I'm not talking about those who call in, but them going out and asking for business from friends, neighbors, etc... Stuff they solicit.
Wondering if you do commission or flat dollar?
One time or ongoing?
Anything else that you'd be willing to share.
Thanks in advance.
Good morning.
From past experience, I've been paid 40% 1st year and 20% on renewal business. Paid quarterly
A different agency paid 50% new business and 25% renewal; but they were much larger and my base salary was lower than the above agency. Paid monthly.
I liked the quarterly payments better because with monthly, if someone cancels you get a charge back. Quarterly works itself out.
Current agency - it is in discussion. But if we cross-sell, $20 home, $15 auto, $10 all other lines. We keep a spreadsheet and hand it in each month.
Hope this helps a bit.
Yes, it does help. There seem to be many ways of doing it. Thanks, Dawn!
Just to add in ... I've seen this done so many different ways it's not even funny. There obviously is no one single answer but I will say this - the simpler you can make it to understand and track, the better. I've seen some crazy complex systems setup because it seemed to be the most 'fair' but in the end, if it's unmanageable, it won't work out.
We pay 20% 1st year and nothing after that. No one in our office gets renewal commission on Personal lines past the first year.