Market Practice Studies for Insurance Companies

Best in class human capital strategies are not just about the level of pay. Our human capital market practice studies provide additional perspective to design winning talent and rewards strategies.

Annuity Wholesaler Pay Practices

This study provides competitive market information on current trends impacting the annuity intermediary sales function and how firms plan to address structural shifts in the annuity industry and includes:

• Information on organizational design and staffing levels and ratios.
• Short- and long-term incentive plan design trends for regional sales managers, external wholesalers, captive wholesalers, internal sales, and key account managers.

Board of Directors Compensation

Board of Director Compensation Practices Study for property & casualty insurance companies provides insight into levels of compensation paid to non-executive directors, as well as board structure among other carriers. Other highlights and insights include, annual board retainers, committee meeting/member fees, and aggregate board spend. There is no fee to participate. 

Diversity Study

The Diversity Study focuses on workforce diversity within the insurance industry. This survey is designed to provide insurance industry specific data on gender, race, and ethnicity across various functions of insurance organizations, including insurers, reinsurers, and brokers. The survey is conducted in partnership with The Jacobson Group. There is no cost to participate and results are complimentary.

Executive Pay Practices

In partnership with the National Association of Mutual Insurance Companies (NAMIC) and The Jacobson Group, we conduct the Executive Pay Practices Study. This in-depth study covers base compensation, incentive compensation, retirement benefits, and perquisites for executives at property-casualty insurance companies.

HR Practices and Employee Benefits

The war for talent in the property-casualty insurance industry continues to apply pressure on carriers to transform their operations and to develop their human capital strategy around an aging workforce. Given these challenges, human resources departments have been tasked with providing benefit options designed to attract and retain the best talent while managing to control costs. In partnership with the Property Casualty Insurers Association of America (PCI), we conduct the HR Practices and Employee Benefits Study to better understand current challenges and practices among HR departments at property-casualty insurance carriers in the United States.

Labor Market Outlook

The Labor Market Outlook Study is a semi-annual survey investigating hiring trends within the insurance industry we conduct in partnership with The Jacobson Group. Study highlights include:

• Analysis of current labor trends and future staffing expectations.
• Segmentation of companies by industry, size and outlook to determine factors affecting staffing expectations.
• Independent perspective on market trends and considerations for strategy and staffing plans.

Contact us now to participate in one of these studies. To view all reports available for purchase or immediate download, click here.

Understanding industry practices empowers our clients to optimize their expenses and productivity.

Expense Management and Budgeting Trends

Budgeting and expense management continues to be a key issue as insurance carriers wrestle with strategic plans, technology investments, and resource allocation. To understand the business practices carriers are applying to their budgeting and expense management processes, we conduct a survey of property-casualty and life carriers.

Business Environment Study

Annually, we conduct a survey of  insurance carrier leaders to gauge their outlook for the industry and better understand how they are adapting to current economic conditions. Separate surveys are conducted for the life-health and property-casualty segments and results are distributed to participants at no cost. The 2018 Business Environment Study is now open. Contact us to particpate.

Insurance Billing Practices Survey

One of the most frequent interactions between an insurance carrier and its policyholders involves the invoicing and collection of premium. The ease of this process can significantly affect a carrier’s customer service reputation. We conduct a survey of help property-casualty insurance companies to better understand how other insurers are implementing their billing practices and the full extent of their capabilities. 

Sales Distribution and Digital Strategy Survey

Distribution strategy among property-casualty insurance carriers has evolved over the last several years as the lines between distribution channels continue to blur. Additionally, the impact of a digital marketplace continues to push carriers to innovate in product offerings and processes as customers demand more personalized service and just-in-time access to information. To gauge the state of the industry’s investment in digital strategy and its impact, we conduct a survey of property-casualty sales and marketing leaders.

Productivity Studies

We conduct productivity surveys to benchmark average workloads, the impact of system capabilities on productivity, and other key efficiency business practices for personal lines underwriters, commercial lines underwriters, and claims adjusters. The surveys are designed to take into consideration the differences in job role and organizational structure.

Contact us now to participate in one of these studies. To view all reports available for purchase or immediate download, click here.

The insurance market continues to shift rapidly, so it is critical to ensure you have the insights you need, when and how you need it. Our teams are available to partner with you to conduct customized strategies studies to support your business objectives.

We gather and analyze market data based on custom designed peer groups. Our global presence allows us to uncover country-specific, regional, and global trends that gives you the context that you need. We will partner closely with you to interpret the results and apply to your firm's strategy.

Interested in sponsoring a study? Contact us now.