Is China’s industry ready for the insurance agents influx?

China Health Insurance agents

Some wonder if such a large amount of hiring is heightening the risk of mis-selling problems. As the number of insurers takes off in China – particularly as the country has opened its doors to providers from other countries – has been taking off and this has caused the need for insurance agents to skyrocket. The glut of hiring that has been occurring in the country is fantastic for people who want to work in the insurance industry. That said, there are some experts in the industry who are forecasting…

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Allstate makes changes to its controversial agent commissions plan

Allstate has announced that it will be revising its compensation plans for independent insurance agents. The company will be revising its commission strategy and pay system for agents, with the changes to take affect beginning in 2013. The new changes will be enforced throughout 2013, but the insurer has not yet revealed plans on what will happen thereafter. Allstate’s changes aim to reduce compensation for most agents, save for captive agents that work solely with the company. The insurer plans to cut commissions by 1%, bringing independent agents’ base commission…

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