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Forging a Career in Insurance Sales — The Complete Guide

Hubspot Sales

Insurance sales is a highly lucrative industry. Paul Moss, Founder of HeyDriver and a 14+ years insurance veteran, says, “There is a lot of cheddar to feed the mouths of insurance professionals.” With a diploma, you can start working as an insurance salesperson. Table of Contents What is insurance sales?

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Non-Commissioned Salespeople: An Odd Perspective!

MEDDIC

Ken Olsen, the inventor of the non-commissioned salespeople, was an American engineer who co-founded Digital Equipment Corporation (DEC) in 1957. Interviewer: Could we talk about another interesting aspect of Digital—your decision to use non-commissioned salespeople? Let’s temporarily have a commission plan for it.”

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The Nature and Necessity of Uncapped Commission

Hubspot Sales

Some businesses impose a cap on commission — a strict limit on what you're allowed to earn. Here, we'll learn about the benefits of uncapped commission, some insight into why some companies might not be interested in it, and the pitfalls of including the term in job listings. A cap on commission might mean a cap on effort.

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How? ?Insurance? ?Incentive? ?Commissions? ?Management? ?Software? ?Helps? ?Agents

Canidium

Insurance carriers are always trying to reduce costs and streamline their business processes, from on-boarding producers through compensation. However, they usually have silos of legacy business applications with multiple databases that increase operating costs.

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Empowering Agents, Streamlining Compliance: SAP APM for the Insurance Industry

Canidium

The insurance industry is constantly changing, and insurers encounter various challenges related to agent and agency compliance, industry regulations, and managing external channel commissions.

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Which sales commission structure results in the best performance?

Close.io

There is no magic formula for commission planning. Flat rate commissions. The simplest commission structure, commonly found in property, retail, and insurance. For example, if a sales rep sells a product at $1,000 and the flat rate commission per sale is 5%, they get an extra $50 in their paycheck.

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Why Insurance Companies Should opt for Industry-Specific Solutions

Canidium

While generic Incentive Compensation Management solutions offer commissions and bonus calculation along with other features, insurance industry-specific solutions are a perfect match for carriers to manage their unique business needs.