Xinhua Insurance Shandong Branch Marketing Staff Incentive Mechanism Research

In the process of the insurance industry’s rapid development, insurance salesmen played avery important role. Insurance salesmen are fundamental for the survival and a source ofdevelopment of insurance companies. With the rapid development of China’s insurance industry,insurance salesmen team continue to grow. Insurance salesmen’s management issues, especiallyhow to conduct an effective incentive to give full play to their initiative to bring efficientdevelopment has gradually become the focus of attention.The management of China’s life insurance sales market is gradually improving, the variousof life insurance companies through the different levels of human expansion policy to expandtheir business scale. However, due to the lack of insurance salesmen systems, professionalmanagement and and a matching incentive support, the emergence of a serious drain onpersonnel and non-standard carrying out insurance business creating a great waste of resourcesand negative impacts to the development of the life insurance industry.This article starts from the theory with practice and selects the Shandong Branch ofNewchinalife Insurance company to expand exploration and research on the incentives ofinsurance salesmen. Analyzing from commissions, allowances, bonuses, promotion, training andwelfare mechanisms, it points out that the problems of incentives is to reward incentivemechanism set less reasonable, the absence of long-term incentive mechanism, less scientific ofincentive evaluation system, the reputation incentive mechanism weakening and the trainingincentives must be further improved. The main causes of these problems is that the legal statusfactors of insurance salesmen existing plight, insurance salesmen’s own factors, less perfect ofinsurance marketing team management, and external environmental factors, etc. Performanceappraisal indicators take into account service quality, a combination of short-term incentive andlong-term incentives, regulatory constraints, incentive matching principle, increase the rate ofdangerous condition, the loss ratio, the new single the first two months Lapse rates and otherobjective assessment targets and take into account of insurancethe member in charge ofmarketing performance indicators set in order to improve the performance appraisal mechanismof insurance salesmen, commission assessment, training, motivation, internal control shouldfurther improve the proposals.Although this article is to study the incentives of a life insurance branch insurance salesmen,but has a certain practical reference for life insurance companies in the same industry, in particular, the standard management of emerging life insurance company or life insurancecompany is preparing for marketers and effective incentivevalue.