Product Update
Every agency has a list of things it wishes producers would do more consistently. Cross-sell existing accounts. Prospect even when the renewal book is comfortable. Push a carrier over the contingent threshold before year end.
Rally is how you get them to do it. Starting today, agency and MGA leaders can set up a spiff in AccountAim, point it at the behavior they want, and watch the results come in.
Why producers get stuck
Producers aren’t lazy. They’re responding to the comp plan you gave them, and most comp plans don’t reward all of these ideal behaviors well enough.
Take the producer with a big renewal book. Renewals pay every year with little effort, so prospecting starts to feel like a bad trade. Or the producer who built a career in a market that buys lower-commission products. They’re good at it, the clients like them, and there’s no reason in the plan to go anywhere else.
None of this shows up as a problem on a monthly report. It shows up as accounts with one policy that should have three, quality customer segments nobody is calling on, and a contingent bonus you miss by a few hundred thousand in premium.
Rewriting the comp plan is slow and political. A spiff is faster. You pick one behavior, put money behind it for a few weeks, and give producers a reason to try something different. If it works, you run it again.
How it works
AccountAim Rally helps you identify a profit opportunity and rally your team around closing it.
Every spiff in Rally has three parts: a target, a reward, and a time window. Producers know what to write, when the window closes, and what they earn on top of their split.
1. The Target: what behavior do you want to drive?
These are the most common:
- Account rounding: Pay for each policy cross-sold to an existing account, and build fuller accounts that are more likely to renew.
- New business: Reward new business from producers who are sitting on large renewal books.
- Contingent thresholds: When a carrier volume threshold is close, fund the push that gets you there.
But AccountAim Rally is flexible. Identify any sales behavior you want to drive, set the target, and unleash your producers. Customers have used Rally for outbound call volume, AMS data cleanliness, and response SLAs.
If you need to change a behavior, you can incentivize it with Rally.
2. The Reward: what can producers earn?
Set rewards that excite your producers. This might be a bonus for every action completed or policy sold.
Or you might choose to make it a contest, where only the winner gets paid out. You should see the excitement this generates by period end…
3. The Time Window: what period is this active for?
Setting a time window drives urgency and helps you hit your goals quickly. Trying to get back on track for your Q4 board forecast? Set the Rally to end before Christmas and watch the numbers tick up.
Check it out
Rally connects to your existing systems and tracks each spiff against its target in real time. When the window closes, you see the ROI so you can fine-tune your spiffs to maximize profits.
Want to test out a spiff? Book a demo today.