2022/2023 Health Insurance Sales Force Compensation Insights Report

Sales Compensation Plan Design in a Volatile Economy

Developing effective sales incentive plans is one of the most complex compensation design challenges for any company. Using credible survey market data is a critical starting point for designing an effective plan.

The 2022 BDO Health Insurance Industry Sales Force Compensation Survey provides an in-depth look at compensation levels, plan designs and incentive practices for industry-specific sales roles. It is used by health insurance companies to assess market pay and compensation practices for their sales force.

This summary report highlights key findings from the full survey report, which address important compensation issues such as appropriately incentivizing the sales force to drive business results while minimizing turnover of high caliber sales professionals, specifically:

• What are the key drivers of pay levels for various sales positions — types of sales roles, product(s) sold, market segment(s)?
• What factors impact the decision regarding the amount of pay that should be at risk?
• What type of sales incentive plan(s) should be used? Are companies using sales bonuses, commissions or a combination of both?
• What is the prevalence of utilizing long-term incentives to incentivize sales positions?