Critical success factors in captive, multi-line insurance agency sales

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 agent's 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 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. (Reprinted by permission of the publisher.)

Insurance agents, brokers, & service, Insurance Agents & Services, Agencies, Brokerages, and Other Insurance Related Activities, Analysis, Management, Insurance industry, Captive insurance companies

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Sales management performance evaluation: a residual income perspective

Article Abstract:

Residual income analysis is proposed as a capital budgeting based performance measure for sales executives that overcomes the limitations of return on assets managed. In particular, residual income analysis is consistent with a shareholder wealth maximization objective, incorporates both sales growth and return on investment objectives, and can be used readily and practically as a basis for sales executives' compensation. An illustration of its use is also discussed. (Reprinted by permission of the publisher.)

Research, Methods, Human resource management, Executives, Sales management, Sales personnel, Salespeople, Evaluation

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