Group Insurance Sales Staff Performance Management Research

As an essential part of benefit packages offered by employers, group insurancehas become increasingly important for companies to consider. For those insurancecompanies that offers group insurance, although the potential market is huge, at thesame time there are also challenges, especially in regards to product packagemarketing and management. One of the main challenges is the performancemanagement for individual insurance agents. This paper will examine managementstrategies by providing case study analysis, and propose more efficient and effectivestrategies for insurance agents performance management.Based on theories of strategic planning, sales management and performanceevaluation, as well as precedences and experiences from oversea insurance providers,this paper will provide a summary and step by step analysis on A company’s currentmanagement strategy. The paper will present the three main challenges in this fieldof study: ineffective integration of company goals and performance evaluation;outside sales not being rewarded properly, and deviation between company sales planand individual performance analysis. This paper will also propose solutions byintegrating company goals and individual goals, effectively promoting individualsales agents based on company sales plan, and ensuring accurate performanceevaluation based on company sales goals.By reconstructing the entire performance evaluation and management plan for Acompany, older systems based on life insurance sales performance evaluation will bereplaced. The revised management system will strengthen the connection betweencompany goals and individual sales goals, thus providing an example for domesticinsurance companies to study evaluate.