Please describe the basic structure of the internal MGA sales campaign:
based on FYC for all companies products for a calendar year
production based campaigns
Very few would be number of cases but they have happened.
Based on overall production. 2.5 days in very nice hotel with 8 hours of meetings.
They are all different, some are most sales by an advisor in various
Points for every sold FYC
We run a mini campaign and a annual campaign every year. Mimi campaign normally run from June to September and the annual campaign run from Jan-Dec of that year. These campaigns are based on cases as well as FYC.
Campaign 1 : among young advisors, the highest FYC wins 500 $ + the others get a chance to win in a draw – they have a higher amount of coupons according to their FYC (additionnal 500 $ price)Campaign 2 : Over a two-year period, FYC are calculated and the 12 highest ranker get a trip. All insurers and products are calculated equally. But some product line (investment, insurance, group insurance) are given different credits according to the profitability for the MGA.
Usually it rewards the agents when they meet a certain target so it’s a campaign for each to compete with themselves, instead of with other agents.
Total FYC from all carriers and all products.
top production advisors
Electronic application campaign – prize (gift cards) awarded when app count threshold met during contest period ; Elite conference (every 2 years) – based on overall production during 24 month period, international trip including training and education
Quarterly Contests Rewarding New Sales
Based on Net SFYC or cases
sales credits by product line; growth; top performers; etc.
all companies are treated equal and campaigns are based on product.
They are usually focused on writings.
Quarterly Contests Rewarding New Sales
Its overall production revenue, if you hit certain targets you may qualify for a trip, gift card or recognition.
Quarterly Contests Rewarding New Sales