awards & recognition · 2020. 2. 20. · to receive the award and recognition, an agent must be...

AWARDS & RECOGNITION2020 PROGRAM

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COMPANY AWARDS & RECOGNITION PROGRAM

INDIVIDUAL AWARDS

Mountain West’s President’s Club.................................. 6

Top Agents...................................................................... 7

Rookie of the Year........................................................... 7

New P&C Elite Producer................................................. 8

New Agent Line Leaders................................................ 8

101 Club.......................................................................... 9

250K Club....................................................................... 9

Commercial Business Award......................................... 10

Profitability Award........................................................... 10

Best Loss Ratio.............................................................. 11

Navigator Award............................................................. 11

Sophomore Award.......................................................... 12

Agency of the Year.......................................................... 13

CLUBS

App-A-Week................................................................... 14

RECOGNITION

Scoreboard.................................................................... 15

Top Producers of the Week............................................ 15

AGENT INCENTIVE PROGRAMS

Health Insurance............................................................. 16

Deferred Compensation................................................. 17

Agents’ Advisory Council............................................... 17

Preferred Agent Program................................................ 18

Recruiting Bonus............................................................ 19

Mountain West Farm Bureau Mutual Insurance Company/360 Insurance Company reserves the right to determine final credit for its incentive and recognition programs and make changes, substitutions, or deletions for these programs. To receive the award and recognition, an agent must be under contract with the company at the time the awards are formally presented. Agents who have canceled prior to the awards presentation or trip forfeit all rights to any portion of the Awards and Recognition Programs to which they might otherwise have been entitled.

INDIVIDUAL AWARDS | 6 7 | INDIVIDUAL AWARDS

This prestigious award is presented to those agents who attain 100% of their annual goal for life, auto, and fire/liability. The property and casualty loss ratio (best 4 out of 5 years) must be 45% or less to qualify. Agents must be contracted for one full year to be eligible. Recognition is given at the Annual Agents’ Meeting Awards Banquet.

Qualifiers will receive the following:

1) Specially designed plaque2) $500 available for tuition, advertising or charity donation3) $100 for the county Farm Bureau

Recognition is made monthly in the Scoreboard for those agents who are on schedule for all three lines.

A U NI QU E AWARD FO R QUALIF YIN G AGE NTS

MOUNTAIN WEST’S PRESIDENT’S CLUB

This special award is presented to a rookie for outstanding achievement during the first full calendar year of production. Qualifying for P&C and Life awards and recognition programs are also taken into consideration. A plaque is presented to the winner at the Annual Agents’ Meeting.

These prestigious awards are presented to the company’s top agents who have outstanding achievement in multi-line sales. Qualifying for P&C, Life, and industry awards and recognition programs are also taken into consideration.

In addition, these individuals demonstrate great leadership abilities and attitude, as well as promotion of the company’s overall goals and objectives.

THIS AWARD RECO GNIZ ES TH E CO MPANY AGE NT O F TH E YE AR AN D TO P M O NTANA , W YO MIN G & CO LO R AD O AGE NTS

TH E WIN N E R RECE IVES AN AT TR AC TIVE WALL PL AQU E

TOP AGENTS

ROOKIE OF THE YEAR


TH E WIN N E R RECE IVES A PE RSO NALIZ E D PE D ES TAL CRYS TAL AWARD

QUALIF IE RS RECE IVE AN E N GR AVE D GIF T BOX

NEW P&C ELITE PRODUCER

NEW AGENT LINE LEADERS

The company recognizes the leading agent for year-end total new P&C production.

An engraved gift box is awarded to the agent with the highest new auto premium in the first 12 months, the agent with the highest new fire & liability premium in the first 12 months, and the agent with the highest life premium in the first 12 months.

Eligible Agents: currently under contract and have completed their first 12 months during the last calendar year.

Agents showing outstanding dedication through a large number of life insurance applications become members of this distinguished club.

Those agents with at least 101 paid life apps between January 1 and December 31 will receive $1,000. Recognition is given at the Annual Agents’ Meeting.

Credit for life applications will be given based on the rules provided each year by Farm Bureau Financial Services for their life incentive and recognition programs.

Monthly recognition is made in the Scoreboard for the top app writer for the month and for the year.

Agents who have outstanding property and casualty production in 2020 become members of the $200K Club.

To qualify, an agent must have at least $200,000 in new P&C premium and have a loss ratio of 45% or less (best 4 out of 5 years).

RECE IVE $1,000 FO R 101 PAID LIF E APPS

E ARN A B E AUTIF U L GL A SS TOWE R AWARD, WHI CH CAN B E AD D E D TO E ACH YE AR O F QUALIF I CATI O N

101 CLUB

200K CLUB


TH E WIN N E R RECE IVES A B E AUTIF U L TR AVE LIN G PL AQU E


PROFITABILITY AWARD

To recognize outstanding new commercial production, a traveling plaque will be awarded to the agent with the highest year-end new commercial business.

COMMERCIALBUSINESS AWARD

A traveling plaque will be awarded to the agent with the most profitable book of business for the last 5 years.

To qualify, an agent must have 3 consecutive full years of service and at least $500,000 of in force business at year end.


BEST LOSS RATIO

A traveling plaque will be awarded to the agent with the lowest loss ratio for the best 4 out of the last 5 years.

To qualify, an agent must have 3 consecutive full years of service and at least $500,000 of in force business at year end.

QUALIF IE RS RECE IVE A S PECIAL GLO B E AWARD

The Navigator Award recognizes new agents who remain on App-A-Week continuously in the first 4 months. New agents who qualify will be presented with a special award and recognized at the Annual Agents’ Meeting.

The Navigator Elite Award can be earned by new agents who remain on App-A-Week continuously in the first 4 months and issue 20 life apps in the first 4 months. A special award and a $250 bonus is presented to the new agent along with recognition at the Annual Agents’ Meeting.

NAVIGATOR &NAVIGATOR ELITE


TH E GO LD PL ACE WIN N E R RECE IVES A MARB LE CO LU M N , PLUS C A S H TO BOTH GO LD AN D S ILVE R WIN N E RS

SOPHOMORE AWARD

Agents completing their second calendar year in the business are eligible to earn the Sophomore Award. Agents who are “Brilliant on the Basics” have an opportunity to receive a cash incentive through the annual Sophomore Award contest. The contest runs for a calendar year, and points

are earned for life contest credit and new property & casualty business premium. The Gold and Silver awards are presented at the Annual Agents’ Meeting.

Contest Cash Incentive:Gold Place (1st) $1,000 | Silver Place (2nd) $500

Column Award: The Gold Place winner also receives a stately black marble column award.

Recognition Plaque: A photo plaque displayed at the home office in Laramie recognizes the achievements of Gold Place winners.

TH IS AWARD RECO GN IZ ES TH E TO P AGE N CY. TH E WIN N E R RECE IVES AN AT TR AC TIVE WALL PL AQU E

This award is presented for outstanding agency achievement. Performance is based on overall multi-line production of the agency, recruiting of new agents, retention of agents, leadership skills, attitude, and promoting the goals and objectives of the companies. An

attractive wall plaque is presented to the manager at the Annual Awards Banquet.

AGENCYOF THE YEAR

15 | RECOGNITIONCLUBS | 14

THIS AWARD RECO GNIZ ES TH OS E AGE NTS WH O EXCE L IN CO NS IS TE NT LIF E PRO D UC TI O N

APP-A-WEEK PROGRAM

App-A-Week is an incentive program that encourages agents to excel in the consistent production of life products. Agents who stay on App-A-Week for 52 continuous weeks will receive:

• $250• Automatic Level One qualification in the Federation Convention and

Annual Agents’ Meeting contests• A recognition photo on the App-A-Week page in Scoreboard• A share of that year’s App-A-Week bonus pool (contributions made

by Agency Managers, FBL and Mountain West Farm Bureau), which will be distributed at the Annual Agents’ Meeting

To qualify for these rewards, an agent must stay on App-A-Week for 52 continuous weeks and have at least 45 issued apps over the last 12 months.

New agents only need 35 issued apps in their first 12 months and 40 issued apps in their second 12 months to remain on App-A-Week.

There will also be special gifts for exceptional longevity on App-A-Week at the Annual Agents’ Meeting and Summer Meeting.

Credit for life applications will be given based on the rules provided each year by Farm Bureau Financial Services for their life incentive and recognition programs.

Rookie Agents in their first year are also eligible for the following awards if they remain on App-A-Week for the specified number of

12weeks

$100 $250

24weeks 36weeks 52weeks

$150$50

Leading agents for the current month and year-to-date production are recognized in the monthly Scoreboard.

Line Leaders

The top life, auto, and fire & liability producers are pictured along with their premium numbers. Recognition is given to those agents with the best month and the best month year to date.

The top five producers and the top five rookies are also recognized for the month and year-to-date production.

Agency of the Month

Monthly recognition is given in the Scoreboard to the agency with the highest average new P&C premium production per agent and the agency with the highest average life contest premium production per agent.

LE AD IN G AGE NTS ARE RECO GNIZ E D IN TH E M O NTH LY E D ITI O N O F SCO RE BOARD

TO P WE E KLY PRO D UCE RS ARE H I GH LI GHTE D IN TH E WE E KLY PRO D UC TI O N RE PO RTS

SCOREBOARD

TOP PRODUCERS

Each week, the top three producers in P&C premium and the top three producers in life premium are recognized. In addition, those agents who are the best in other categories of the weekly call-in reports will receive recognition.

AGENT INCENTIVES | 16 17 | AGENT INCENTIVES

For agents participating in the health plan, the company will share in the cost of the agent’s health premium payments in 2021 according to the following Performance Levels based on 2020 production*:

Performance Level 4 25%



New and rookie agents may qualify for a reduced production requirement. Please contact your agency manager for details.

*Credit for life contest premium will be given based on the rules provided each year according to the Mountain West Farm Bureau Insurance commission schedule.

QUALIF Y FO R A COS T S HARE O F H E ALTH PRE MI U M PAYME NTS

HEALTH INSURANCE

Mountain West Farm Bureau Mutual Insurance Company/360 Insurance Company reserves the right to determine final credit and make changes, substitutions or deletions for this program.

AN IN CE NTIVE PRO GR AM FO R TH E F UTU RE

DEFERRED COMPENSATION

The Agents’ Deferred Compensation Plan is a program whereby the company encourages its independent contractors to make and continue their careers.

Agents must have been under contract with the company for at least one consecutive year as of any December 15 to participate for the succeeding 12-month period and must qualify at Performance Level 4 or higher for the calendar year 2021 based on 2020 production.*

On April 15, the company will contribute an amount equal to 5% of the agent’s previous year’s commission earnings from the company (excludes commission earnings from affiliated companies) provided the agent is still under contract at the time.

*Credit for life contest premium will be given based on the rules provided each year according to the Mountain West Farm Bureau Insurance commission schedule.

Those agents who exhibit leadership skills and have balanced production will be asked to serve on this council along with the Company Agent of the Year, Top Montana Agent, Top Wyoming Agent, Top Colorado Agent, and Rookie of the Year. This council serves as an advisory committee to home office management.

AGE NTS WH O ARE S E LEC TE D S E RVE A S AN ADVISO RY CO MMIT TE E TO H O ME O F F I CE MANAGE ME NT

AGENTS’ ADVISORY COUNCIL

AGENT INCENTIVES | 18 19 | AGENT INCENTIVES

PRE F E RRE D AGE NTS RECE IVE A VARIET Y O F S PECIAL ALLOWAN CES

PREFERRED AGENT PROGRAM

To be nominated for the Preferred Agent Program, an agent must meet the following minimum requirements:

• 5-Year Loss Ratio ≤ 55% OR5-Year Loss Ratio (excluding Cat events) ≤ 50% OR Best 4 of 5 Loss Ratio ≤ 45%

• P&C Production ≥ $125,000 or 5% growth

• Years of Service ≥ 5

• Life Production ≥ $34,000

• Life Persistency ≥ 91%

• NAIFA Member

Preferred Agent Benefits: Preferred Agents receive a variety of special allowances from Underwriting when writing business. In addition, they receive contest and educational benefits from Sales & Marketing.

The company offers a recruiting bonus to help bring new agents into our business.

The following schedule is used to recognize your recruiting efforts:

LEVEL ICompletes all license exams and contract with the company.

$150

LEVEL IIEarns Mountain West/360 Navigator Award - four months.

$150

LEVEL IIIEarns Mountain West/360 Elite Navigator Award - four months

$150

LEVEL IVCompletes 52 weeks on App-A-Week by the end of their first contract year.

$150

LEVEL V Rookie of the Year. $500

Total Rewards $1,100

The recruiting bonus program does not apply to agency managers within their areas of responsibility.

RECE IVE CA S H FO R RECRU ITIN G

RECRUITING BONUS

Best of

SALES2020

www.mwfbi.com | www.360insuranceco.com

2020 AWARDS AND RECOGNITION PROGRAM

awards & recognition · 2020. 2. 20. · to receive the award and recognition, an agent must be...

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