It's about building a book of business: incentives of insurance salespersons

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<rdf:Description>
<dc:creator>Berry-Stölzle, Thomas R.</dc:creator>
<dc:creator>EckIes, David L.</dc:creator>
<dc:date>2019-10-01</dc:date>
<dc:description xml:lang="es">Sumario: Most property-liability insurance contracts are short-term contracts which can be renewed at expiration. With an average policy renewal rate of 89%, selling a policy not only generales immediate revenue but also results in expected future revenue for an agency. Outside employment options give salespersons negotiating power to claim a fraction of their increased production. This link between current performance and future compensation creates implícit incentives. Our empirical analysis documents a strong positive relationship between the fraction of renewals and salespersons' output, and between output and salespersons' compensation. These results hoid regardless of whether salespersons receive a fixed salary, a combination of salary and commission, or compensation entirely based on conimission. Overali, these findings support the view that property-liability insurance salespersons have strong incentives to build a book of business, and that these indirect sales incentives allow insurance agencies to offer compensation schemes with a fixed salary component.</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/169422.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Ventas de seguros</dc:subject>
<dc:subject xml:lang="es">Seguro de daños patrimoniales</dc:subject>
<dc:subject xml:lang="es">Modelos de negocio</dc:subject>
<dc:subject xml:lang="es">Empresas de seguros</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">It's about building a book of business: incentives of insurance salespersons</dc:title>
<dc:relation xml:lang="es">En: Geneva papers on risk and insurance : issues and practice. - Geneva : The Geneva Association, 1976- = ISSN 1018-5895. - 01/10/2019 Volumen 44 Número 4 - octubre 2019 , p. 702-731</dc:relation>
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