Producer Compensation Plans

What should you pay your producers?

 

The answer? Less than the revenues they generate--including their share of the agency’s fixed and variable expenses.

 

Paying them a greater amount costs the agency more than it makes on every sale and according to the Academy of Producers Studies, most producers are overpaid. 

Every agency has different cost structures, goals, and ways of doing business. Therefore, each agency requires a unique compensation program.

 

A custom compensation system will decrease expenses, increase compensation, and magnify profits.

 

To help agencies achieve these goals, we specialize in developing custom producer compensation plans that improve profits and productivity, while enabling good producers to increase their take-home pay. We also help producers:

  • Target the correct account size

  • Find more time to sell

  • Reduce the time required to make a sale

  • Achieve minimum hit ratios

  • Make more money (while the agency makes more too!)

 

Help your agency down the road to greater productivity and profits.

Let Burand & Associates help you develop a custom producer compensation plan.

215 S. Victoria St., Suite E

Pueblo, CO 81003

p: 719.485.3868

Burand & Associates, LLC is an advocate of agencies which constructively manage and improve their contingency contracts by learning how to negotiate and use their contingency contracts more effectively. We maintain that agents can achieve considerably better results without ever taking actions that are detrimental or disadvantageous to the insureds. We have never and would not ever recommend an agent or agency implement a policy or otherwise advocate increasing its contingency income ahead of the insureds' interests.

A complete understanding of the subjects covered on this Web site may require broader and additional knowledge beyond the information presented. None of the materials on this site should be construed as offering legal advice, and the specific advice of legal counsel is recommended before acting on any matter discussed on this site. Regulated individuals/entities should also ensure that they comply with all applicable laws, rules, and regulations.

© 2004 - 2019 Burand & Associates, LLC