Account Executives – Do you know how valuable are you to your employer?
Specialist Recruitment and Talent Management Consultancy, IDEX Consulting, have recently released a series of Salary Guides and reports into the Account Executive sector within Commercial Insurance.
This discovered that the way that Commercial Insurance Account Executives are being rewarded is changing.
Rather than a base salary with the potential to earn a bonus, more progressive brokers are looking at the big picture and devising a structure that takes into account a number of aspects including:
- Book of business and growth levels
- Retention of the book
- Risk profile
- Average client value
- And more
Managing Director, David Carr commented “As the demand for Account Executives in the UK’s General Insurance industry increases, we’re seeing more AEs question just how competitive their package is, and whether they can cut a better deal elsewhere. As work and revenue increases, so too does the demand for Account Executives (AEs), who are responsible for finding new business, nurturing the sales pipeline and maintaining good working relationships with all clients, prospects and their referral network. However, as the skills gap in the general insurance industry proliferates and both digitalisation and InsurTech continues to disrupt this sector, AEs must find new ways to maintain client relationships at a distance. Additionally, the introduction of technology is inevitably changing the future of the general insurance industry.”
IDEX have released a website that enables you to find out your TRUE value, which can be found HERE