Travel reward competition in life insurance industry — a case study of S Life Insurance Company

• Main Authors: YUN-HSI PU, 卜運喜
• Other Authors: Day-Yang Liu
• Format: Others
• Language: zh-TW
• Published: 2006
• Online Access: http://ndltd.ncl.edu.tw/handle/71531643600755713022

碩士 === 國立臺灣科技大學 === 企業管理系 === 95 === The purpose of this study is to explore the relationships between travel rewards competition, business achievement, and organization management. The objectives of the study are: 1) To discuss the relationship of travel reward competition and the formation of salesperson’s basic training; 2) To study if travel reward competition can stimulate the improvement of basic training, the increase of new contracts and recruits, and the decrease of the alteration of salespersons; 3) To investigate how to design a travel reward competition plan which suits salespersons’ needs better; 4) To explore how to combine professional training into travel reward competition; 5) To investigate if travel reward competition influences company’s operation; and 6) To review the design and implement history of travel reward competition, and to address improvement plan and suggestions as reference resources for insurance practice. The research method of the study was case study. The object of the study was S Life Insurance Company. The comparisons were made between S life and the other four life insurance companies in Taiwan which were Cathay Life, Taiwan Life, Farglory Life, and MassMutual Mercuries Life. Interviews and documentation review were used for in-depth exploration and comparisons between the object and the others. The results of the study are: 1) Travel reward competition is a strategy used in life insurance industry to strengthen organization, to boost popular morale, to multiply business achievement, and to create the values of diversity; 2) In the object company, during the competition periods, the revenues of insurance premium in each sales department were higher than usual, and there were positive influences on business goal achievement and salespersons’ income; 3) There was no positive relationship between travel reward competition and the number of new contracts; 4) There were positive relationships between travel reward competition and organizational management such as: to train for excellent salespersons, to recruit, to reduce resignation percentage, to increase salespersons’ stability, to stabilize and promote organization development, to establish a warm working environment, to hold the organization together, and to stimulate salespersons’ potential; 5) In the object, of all salespersons, 33% had positive feedback on travel reward competition while 38.6% gave negative feedback; of the salespersons who were qualified for the travel reward, 70% were satisfied with the travel reward, and 80% were willing to continue to compete for qualification. The qualified salespersons had positive feedback on qualification criteria, the time of the trips, and trip arrangement. The criteria of qualification should be considered as a win-win situation in which premium revenue, salespersons’ commission, and the distance of travel destination should be balanced; and 6) Budget should be generous for designing high quality celebration activities to accomplish the goals of travel reward competition.