The results are in! We are pleased to announce that more than 130 companies participated in the 2017 Property/Casualty Compensation Survey.
NAMIC partnered with Ward Group, a part of Aon Hewitt, to conduct the Property/Casualty Compensation Survey. Ward Group, a business unit of Aon plc, is the leading provider of benchmarking services for property/casualty insurance companies.
The ability to understand your competitive pay market is key to ensuring that your company’s pay is aligned with performance. With the Ward Group’s survey, participants can leverage pay data covering more than 1,500 roles ranging from executive positions down to entry-level support roles, with data broken out by geographic region, company size, and company type (mutual versus non-mutual).
Results can be combined with the company's operational and financial benchmarks to help companies assess their pay levels; understand compensation relative to performance; and develop competitive compensation plans. Participants can also compare their compensation practices against customized benchmark groups, including top industry performers.
Survey coverage includes competitive benchmark compensation data for property/casualty insurance positions as well as infrastructure positions that support the insurance business. Pay data elements include:
Prior year and current year base salary
Target and actual annual cash incentive
Target and actual total cash
|NAMIC Members (Premium greater than $50M)||$1,575|
|NAMIC Members (Premium up to $50M)||$850|
|Non-NAMIC Member Participation Fee:||$1,900|
|Survey Non-Participant committing to 2018 survey (NAMIC Members Only)|
|NAMIC Members, Premium greater than $50M||$2,400 now*, additional $750 in 2018|
|NAMIC Members, Premium up to $50M||$1,275 now*, additional $425 in 2018|
|Survey Non-Participant NOT committing to 2018 survey (NAMIC Members Only)|
For general survey questions, please contact NAMIC at email@example.com or call (317) 875-5250.
Check out the 411 Webinar (approximately 45 min.) from September 13, to learn more about the survey results and the trends currently impacting insurance industry compensation: