The key is to line up incentives with goals, and to make sure your rewards in turn match your company culture and workforce preferences. (Fotolia) The key is to line up incentives with goals, and to make sure your rewards in turn match your company culture and workforce preferences. (Fotolia)

Studies have shown that our brains prefer to take the easy path. We’re naturally engineered to save ourselves effort. And we’re also naturally wired to do things that make us feel good in the short-term versus the long-term. This is why so many of us spend too much time on social media or video games: They’re built to take advantage of our need for instant gratification, which can turn minutes into hours!

How does that relate to incentives for insurance brokers? It means that even though each broker wants to make sure their clients’ needs are met, some products require more time and effort to explain than others. Insurance brokers also have a choice of which companies or policies they recommend.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.