Getting testy about sales screening tests

Article Abstract:

Life insurance firms continue to be skeptical about the reliability of personality tests administered to prospective agents. Their skepticism stems from the consistently low retention rate in the industry, falling below 20%, since 1993. Among the tests used by life insurers to screen agents are Limra's Career Profile, Banks & Weitzul's Behavior Profile Salesperson Selection System, the Comprehensive Personality Profile and the Caliper Profile. Insurers are advised to determine those personality profiles which are most effective and to find their match among buyers' needs.

Employee Recruitment, Methods, Evaluation, Personality tests

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Company college program receives high marks

Article Abstract:

Northwestern Mutual addresses the problem of recruiting life insurance agents in part by operating a college agents program. The program, created in 1967, is atypical in that it does not focus on the number of policies student agents sell. Northwestern's intent is to acquaint students who show potential with the company. About a third of students participating in the program choose a career with the company, but most of the other participants become knowledgeable and vocal owners of Northwestern policies.

Management, Internship programs, Insurance agents

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1995 ordinary life insurance sales results

Article Abstract:

A survey of life insurance companies reveals that overall sales decreased in 1995, although some companies such as Northwestern Mutual Life Insurance Co. reported gains of about 4% in whole life policies and first-year premiums. Sales of term insurance, the biggest sector, amounted to $463 billion. Statistics given include the 75 largest life insurance companies' sales of interest-sensitive whole life, individual term, traditional whole life, universal life, and variable life/VUL.

Variable Life & Equity Insur, Statistics, Variable life insurance

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