3 ways to improve the insurance agent experience paid SAP
In the world of insurance, it can be a dog eat dog world. More and more insurance carriers are moving from a captive agent model, where sales representatives are on the company payroll, to independent agents who are often paid by commissions only.
In order to do this, companies need visibility and control of the entire agent lifecycle. They need to be able to manage all the components surrounding their agents.If your agents aren’t selling, you aren’t making money. However, especially in the financial service industry, there tends to be some red tape and compliance components that must be resolved before the agent is green-lit to sell.
In addition, each agent is managing a book of business for insurance carriers, and living and evolving client relationship lists that can be very detailed. The longer a customer’s relationship with your business, the more complex the book of business becomes. Insurance carriers may not only pay an agent for new business, but also have a negotiated percentage that needs to be paid to the agent’s regional manager and district manager for every new deal or renewal. With the complexity comes a loss of visibility as to why agents are being paid a certain amount, so discrepancies in payments occur.
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