The Design And Application Of Insurance Agent's Compensation System

As the earliest open,most open and fastest growing industry in China's financial industry,the insurance industry has developed rapidly in recent years and has achieved certain results.The number of business entities in the insurance industry has also increased from several to hundreds,and the scale of premiums has also exceeded the trillion mark.As an important part of the insurance industry,the agents has to face a series of changes in China's insurance industry,such as the business mode has changed from extensive to refined,the sales mode has changed from traditional to specialized,and the sales focus has shifted from products to customers,so how to encourage their devotion is more important.At present,the overall quality of the insurance agent team is not high,the difficulty of increasing high-quality employees,the low retention rate,and the short-term behavior of agents are serious.The main reason is that the insurance agent's compensation system is unreasonable.In the context of major changes in the market environment and customer needs,it is particularly important to reform and improve the insurance agent's compensation system to continue to maintain a healthy and stable insurance industry.On the basis of literature review and theoretical combing,this paper introduces the evolution and development of insurance agent system,expounds the related concepts of insurance agents,and introduces the composition,basic types and basic theories of salary system.Taking XHRS insurance agent as an example,combined with questionnaire survey and field visit,this paper analyzes the status and existing problems and causes of insurance agent compensation system,which is mainly reflected in the ratio of salary incentive and the lack of spiritual incentives;The performance appraisal standard changes frequently,the employee satisfaction is not good;Team cohesion is not enough,agent lack of security;large lack of humanized care,lack of basic social security.Combining the current status of XHRS insurance agent compensation system,optimize its existing insurance agent compensation system,the company should follow the six principles of the salary system design,in accordance with the basic ideas of insurance agent compensation design,optimize the design of the insurance agent's post salary,performance salary,welfare income.At the same time,the insurance agent's new salary system is discussed in different regions,insurance types,positions,and the implementation of the system,and the insurance agent's salary system is further optimized and developed.