NATIONAL ALLIANCE STUDY RELEASED:

Austin, Texas-based National Alliance Research Academy has published the third edition of their producer compensation study, Producer Profile: Compensation, Production, and Responsibilities. This study surveyed over 400 property and casualty producers from independent insurance agencies to determine how producers are performing with respect to compensation, sales production, duties, qualifications, education and training. It is a guide for agency owners and sales managers to see how their agency producer compensation plans compare to others regarding annual compensation, commission rates, benefits and covered expenses. Owners can compare their producers’ sales production to the study’s averages, and learn about average account size, new business production, growth rates and hit ratios. The study also discusses producers’ qualifications, training needs and various responsibilities. The Producer Profile can be used as a tool for producers to compare themselves to their peer group, and see how others are compensated, what commission rates are paid, the amount of sales achieved, the time actually spent on sales, difficulties experienced and opportunities for professional development. New to this edition are: a book section and CD containing sample producer contracts or agreements and sample job descriptions. Agencies can use these samples as templates for constructing new agreements or fine tuning existing ones. To order the updated study, call (800) 633-2165, or visit The Academy’s Web site, www.TheNationalAlliance.com.

Topics Training Development