THEParty on Us incentive introduced by JS Insurance Management in April has failed to attract the level of extra business hoped for, the company has admitted.
Managing director Steve King said the response from independent agents has been fair, but was nowhere near what was expected.
He said it was too early to release figures, but expected a better response when the incentive is increased to 50p for every person sold an Essential policy. The usual payment is an extra 5p.
“We had hoped that many more agents would have signed up to take part in the incentive, which has been designed to support them and encourage them to win back sales from the direct-sell sector,” added King.
“We will lose money by paying out 50p, but it will be worthwhile if it encourages more agents to sign up to sell the policy.
“That will be good for us – and very good for them as July is a good month for sales of Essential Travel.”
The bonus money builds up throughout the year on a passport, issued free to all agencies, and will be paid out in December in the form of Whitbread vouchers so agents can have a special Christmas or millennium party or divide the total among themselves.
In addition, the agency that has sold the most Essential policies by the time the scheme ends in December will have its passport earnings doubled.
To qualify for the 50p bonus, which is in addition to the usual commission they earn on the net-rated scheme, agents must register to sell the Essential Travel policy until the end of the year.
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