TITLE

Critical Success Factors in Captive, Multi-Line Insurance Agency Sales

AUTHOR(S)
Keck, Kay L.; Leigh, Thomas W.; Lollar, James G.
PUB. DATE
January 1995
SOURCE
Journal of Personal Selling & Sales Management;Winter95, Vol. 15 Issue 1, p17
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This empirical study applies the critical success factor approach to the captive, multi-line insurance agency sales context. Depth interviews were used to identify 35 success items associated with successful captive, multi-line insurance agency practices. The mean importance ratings of these success items provide insight concerning agents' perceptions of the captive, multi-line agency success formula. Comparison of these ratings across sales performance categories provides an analysis of the critical success factors. The results suggest that extrinsic rewards, motivation to achieve peer recognition, office delegation, willingness to spend money to run the business effectively, and goal-oriented management are critical success factors. Practical implications are drawn for parent insurance carrier and their captive agencies. Suggestions for future research are discussed.
ACCESSION #
9503082338

 

Related Articles

  • Impact Players Make Agencies Winners. Stipe, Kevin // National Underwriter / Property & Casualty Risk & Benefits Manag;2/2/2004, Vol. 108 Issue 4, p8 

    Discusses the aspects of successful marketing for insurance agents using the qualities of a football game as an allusion. Importance of customer service as an agency's defense; Characteristics of great offensive teams; Standard performance for commercial property-casualty producers.

  • Grow Sales for New Producers. Fields, Ken // Property & Casualty 360;Feb2015, Vol. 119 Issue 2, p44 

    The article offers tips for improving record and meeting goals of those who are starting in the insurance business. It suggests to put in long hours and make a significant investment, become a student of the business, and drive sales with prospecting. It discusses the importance of time...

  • THE SALES SOLUTION. Bauman, Rick // Canadian Underwriter;Jan2005, Vol. 72 Issue 1, p57 

    Focuses on the concept of solutions oriented selling. Overview of the system which allows insurance agents to use their entrepreneurial skills within a structured sales environment; Percentage of insurance companies that have a formal sales management system; Role of solutions oriented selling...

  • How Sales Can Soar. Whitney, Sally // Best's Review;Mar2007, Vol. 107 Issue 11, p6 

    The article introduces the report which features insurance agents in the U.S., who have recently made major accomplishments in selling life insurance, that was published within the issue. The report discusses the agents' strategies for success in sales. Meanwhile, vice president Bill Girone of...

  • PERSONALITY TRAITS AND SALES PERFORMANCE: EXPLORING DIFFERENTIAL EFFECTS OF NEED FOR COGNITION AND SELF-MONITORING. Deeter-Schmelz, Dawn R.; Sojka, Jane Z. // Journal of Marketing Theory & Practice;Spring2007, Vol. 15 Issue 2, p145 

    Identification of personality traits effective in predicting sales success has become increasingly critical. Two theoretically grounded traits-need for cognition and self-monitoring�were investigated as possibIe predictors of sales performance. Analysis of data collected from 956...

  • The Dos and Don'ts of Selling Cl Insurance. Anderson, Wilma G. // Advisor Today;Nov2007, Vol. 102 Issue 11, p68 

    The article discusses the ways by which insurance agents can sell critical illness insurance. According to the author, agents should know their prospects and should not forget about asking key questions that could help with the insurance sale as well as key in some unique features of the policy....

  • Watching Over You. Macchia Sr., David A. // Financial Planning;Jun2006, Vol. 36 Issue 6, p168 

    Focuses on the need for broker-dealers (B-D) to supervise all sales of fixed insurance products by their representatives. Failure of many B-D to understand the scope of their responsibilities to their representatives; Issue on the structure of the contracts between registered representatives...

  • MDRT Stars Share Secrets to Sales Success.  // Minnesota Insurance;May2013, Vol. 31 Issue 5, p6 

    The article focuses on the aspects which contribute to the insurance sales success of the Top of The Table (TOT) producers Dennis Zahrbock of Business and Estate Advisors, Dale Martin of Merill Lynch and Brian Wolf of Wolf Tax & Financial Group. Martin works mostly as a life insurance specialist...

  • Hard Market E&S Lesson: Make A Clean Submission. Ruquet, Mark E. // National Underwriter / Property & Casualty Risk & Benefits Manag;2/2/2004, Vol. 108 Issue 4, p11 

    Focuses on the problem of why independent insurance agents and brokers fail to get results on submissions to wholesalers. Mistakes retail agents make in dealing with the nonstandard market; Failure of retail agents to recognize the importance of a neat, legible and complete submission with the...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics