How to Sponsor Great Meetings While Managing Costs
Even in the face of rising costs, conferences are critical factors in motivating, developing, educating, and retaining successful sales professionals, in addition to stimulating higher levels of sales and productivity.
LIMRA’s Conference Cost Calculator is a modeling service that allows you to test different scenarios and evaluate changing qualifications that motivate producers — while containing costs. You can download producer-level data, including:
- Year-to-date (YTD) commissions
- Gross dealer concessions
- Renewal commissions or premiums by product
Using sales projections and historical data, the tool illustrates who qualifies for the company’s incentive conference and what would happen if changes were made. The tool automatically changes any month’s YTD sales and persistency dates to December YTD data, and compares the projected results of your company’s current qualification requirements to proposed changes.
LIMRA’s Conference Cost Calculator allows you to change over 300 variables for five recognition levels and compare current qualification requirements to proposed changes. In addition, it allows your company to test what would happen if it drastically changed how producers qualify based on concerns about compliance and regulatory restrictions.
LIMRA’s Conference Cost Calculator gives you a variety of choices in modifying qualification levels — resulting in profitable sales, satisfied producers, and manageable costs.