LIMRA has created the industry’s most comprehensive database. This resource provides an unparalleled capability to clearly define the business environment, and allows for precise measuring, monitoring, analysis, and modeling. Our benchmarking approach combines results of proprietary research conducted specifically for your company with results of the nonproprietary research available from LIMRA's industry research database.
Our research methodologies include focus groups and phone interviews as well as paper and e-mail questionnaires.
Some recent benchmarking examples:
Compensation on insurance products sold to the upscale market by the independent distribution channel
Results highlights:
- Distribution hierarchy
- Product identification and target premiums
- Specific compensation practices (asset trails, chargeback policies, banding by age, marketing allowances/support, conventions, deferred compensation)
- Success and failure metrics
- Design alternatives
- Compensation payout rates
Broker/dealer compensation
Results highlights:
- Payout practices
- Proprietary vs. nonproprietary products
- Payout schedules
- Vesting practices
- Nontrade fees
Career general agency (GA) distribution practices
Results highlights:
- Elements of field management compensation
- GA company practices (employment status, clerical staff expenses, relation with agent contract, commissions from terminated agents, vesting provisions, buyout provisions, lease agreements, security benefits, deferred compensation plans)
- GA compensation plan summaries
- Trending data — GA vs. managerial
- Narrative on theoretical differences between GA and managerial distribution systems
