5 Smart Ways Life Insurance Distribution Organizations Can Still Use Incentive Travel
April 2, 2019 by Mark Herbert
Life insurance moves through a sales channel. It travels from the insurance company through brokerage agencies, who rely on independent and corporate agents to sell the policy, to the end consumer. When designing a strategic incentive program, the objective is to identify at what point in the sales channel incentive rewards can be applied to generate the greatest ROI.
In life insurance sales, incentives for the end consumer are limited to rebates and wellness-related metrics. Legally and ethically, you cannot use incentives to influence their decision.
So, looking at this model, ask yourself, “Who, ultimately, has the most influence on whether or not the end consumer purchases a life insurance policy?”
If you guessed the individual agents, you guessed correctly.
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