Brokerage Financial Inc. has decided its traditional incentive program can use a little tweaking.
An Omaha-based national insuranceorganization that specializes in annuity, life, and long-term care products, Brokerage Financial has in the past offered great incentive trips to places like Hawaii, Ireland, and the Caribbean. But, according to company President and CEO Joleen Misek, producers would qualify for the trips early and with the incentive earned, stop writing business for the company.
The solution the company came up with is the Shared Success Program. It maintains traditional incentive trips, but also incorporates a debit-style rewards card that allows producers to use award points or “shares” for non-travel awards.
“With the new program, when producers have done enough business to qualify for the incentive trip, they can continue to ring up success shares,” Misek explains. All of it is recorded on the card that can be used at participating outlets for non-travel awards. This adds flexibility to the company’s incentive program and increases the number of agents who qualify for the incentive trips and merchandise.
“What we were trying to do was to create an incentive program that attracts more producers and is more producer-friendly,” Misek says. “Instead of like it or lump it, now we say, ‘the choice is yours.’”
For more about the Shared Success Program look at the upcoming May/June issue of Insurance Conference Planner.