Research On Improvement Of Agent Incentive System Of GC Life Insurance Company

Nowadays,the insurance agent teams in China have many problems,such as information asymmetry among life insurance companies,agents and policy holders,the moral risk and adverse selection of the insurance agents,Biased short-term performance's compensation system,which lead to a lot of drawbacks.For example,employee turnover is common,agents can't fell togetherness,the demand of achievement is difficult to get,there are too many levels in sales team,serious waste of marketing expenses happens,the reputation of the insurance company is damaging,the organization keeps low efficiency,etc.The agent teams of GC Life Insurance Company(abbreviation as GC Life)also have similar problems but not exactly.In order to solve the problems,such as low-levels of education of GC life agents,unreasonable staff structure,low enthusiasm of salespersons at the ground level,low general production capacity,low proportion of reaching the standard,and attaching more importance to material encouragement and non-monetary remuneration,this study starts with the system based on commission agency theory,hierarchy of needs theory,E RG theory,compensation design theory,and analyses the disadvantages of the company's recruitment system,management system of allowances,insufficient presence of non-material incentives system by longitudinal comparison of enterprise's historical data and lateral comparison with the industry benchmark companies,so that it could help the GC Life optimize Agent Management System and afford adjustment programs about recruitment,competent terms of allowances,the honor system and related security.Through the above research and case analysis,it helps GC Life to understand the current status of the company's agent teams,affording references to the adjustment of the existing system,and assists the company to instruct the agent teams entering development track both in terms of quantity and quality aspects in the next stage.Meanwhile,it also provides references for the companies with similar problems.