Millennials are technology savvy. The legacy systems are slow and uninteresting, insurance companies, have launched major initiatives to accelerate the digitization of information for themselves as well as their agents. Carriers are seeing the benefits of improved user and customer experience in business growth, improved information landscape, and in the ability to use data to deliver insight into the business.
VUE Software optimizes producer management with real-time integration to the PDB, providing timely and accurate access to new producer demographics, licenses, and appointment information that is always up to date and available through one-click access and synchronization.
A few odds and ends that revolved around commissions and compensation management is how much insurance companies pay in commissions to producers. Across the board, commissions in insurance have a historic average rate of 10%. That’s for life and annuities, property and casualty, and health.