What is a Reasonable Personal Lines Production Quota

[Bertolinoins]

What is a reasonable monthly quota for a experienced full time personal lines producer with no customer service respondsability? I am thinking 20 policies a month or $20,000 in premium.

We are a independent agency with virtually every competitive market, FSC and AMS360.

 

[Underwriter2Agent]

I think with no costumer service related work it should be $25,000 or 25 policies monthly. If they are required to do most of the service work I would say 15,000-18,000 or 15 policies would be reasonable.

 

[Josh]

I think that really depends on a bunch of things, not the least of which is the marketing plan and support. You expect folks to just pull this from scratch? What type of a comp plan are yougiving them?

 

[FL P&C Broker]

I would think the region you are in would make a difference. $25k/month would be low here. Where as $25k/month in Ohio or wherever could be sufficient. I would expect somebody to do $40k to $50k after they are out of the training period.

 

[nyc2phi]

doesn't it also depend on what you are compensating them for the quota to make sense?

At my captive company they base us off of an average. So to keep my job I have to maintain an average X amount of policies per week or month. If I surpass that goal and hit a higher X amount I qualify for a bonus or higher commission as an incentive. Every 6 months I get evaluated to see where I am at. You could implement something like this.

 

[BIG RED IS BACK]

whatever makes YOU happy..........

 

[HealthGuy]

no big red whatever makes YOU happy because you are a P and C jedi man, nobody is wiser than you YODA

 

[VolAgent]

Just my two cents...

Pick a quota that is attainable, and one that will produce at least a median income. Obviously if renewals are part of the income, then maybe just barely liveable for the first year or two, but it should be at a median income after a year or two once renewals start coming in. Finally, it should be profitable for you.

If the quota doesn't produce enough income to live on at the intended comp level, then you need to either raise the quota or see if the payout should be raised. But ultimately keep tweaking the quota and comp until you reach a balance that is attainable, produces a decent income for the producer and is profitable for your agency.

 

[BIG RED IS BACK]

no big red whatever makes YOU happy because you are a P and C jedi man, nobody is wiser than you YODA

I am never happy, except when i am sitting on the beach in BORA BORA

 

[CaptiveGuy]

I would say $15k - $25k in premium a month with policy count not really an issue unless you charge a broker fee per policy or get a bonus based on policies sold rather than premium.

It's much better for a producer to sell 10 policies with $50k of premium than 30 renters policies at $3000 premium for the month.