NAMIC and Aon are teaming up to bring NAMIC members the Compensation Survey & Module, which is a significant enhancement to its predecessor - the annual Property/Casualty Compensation Survey. The survey is transforming into the insurance module as part of the larger Radford Mclagan Compensation Database. NAMIC member participants will be able to access more data than ever and customized reports and data cuts on demand. This benchmarking product serves as a key resource in helping insurance companies ensure their compensation packages align with current market conditions and performance.
Points of Contact
Paige Zick
How to Participate
Participation is required in order to purchase access to the results and all data must be submitted by April 25, 2025.
Key Dates
- February 17 | Data Collection Begins
- March 3 | Kickoff Webinar (available on demand)
- April 25 | Data Collection Ends
- September | Results Delivered to Participants
- TBD | Results Webinar (available on-demand)
Pricing
NAMIC members receive a significant discount on insurance industry compensation benchmarking data and can enjoy even more savings by purchasing the bundled options. Below is 2024 report pricing:
| Survey Job Module | Type | NAMIC Savings | Price | Peer Group Capability |
|---|---|---|---|---|
| Bundled - Insurance + Exec & Infrastructure Module (Insurance Industry Market Data Only) | NAMIC Members (more than $50M DWP) | 40% | $6,000 | $2,000 |
| NAMIC Members (less than $50M DWP) | 65% | $3,500 | $2,000 | |
| Non-Members | -- | $10K-20K | -- | |
| Insurance Module (Insurance Industry Market Data Only) | NAMIC Members (more than $50M DWP) | 38% | $3,750 | $2,000 |
| NAMIC Members (less than $50M DWP) | 62% | $2,300 | $2,000 | |
| Non-Members | -- | $6K-$10K | -- |
Note: Participation is required to purchase survey results.
*Savings calculated off the lowest list price
Survey and Radford McLagan Database Features
- Hundreds of entry–level through executive roles (mutual vs. stock)
- For details on roles included or a job description of each, please contact Shelley Freitag at Aon directly: shelley.freitag@aon.com
- Core elements of cash and equity compensation
- Year-over-year trend analysis
Results 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;
- Long-term/deferred awards; and
- Total compensation.
Additional Services with AON's Compensation Advisory Practice
Aon's Compensation Advisory practice serves NAMIC members through projects related to executive, board, and employee compensation, pay equity, and pay transparency.
Other Questions?
For specific questions relating to pricing, participation, or insurance data included in the Radford Mclagan Compensation Database, please contact Shelley Freitag at Aon directly: shelley.freitag@aon.com.
About Aon
Human Capital Analytics | Aon provides tailored talent, rewards, and performance expertise to financial services firms across the globe. The Radford McLagan Compensation Database is the most comprehensive, in-depth source of rewards data covering multiple industries including all sectors of Insurance. We offer supplemental advisory and other Aon offerings to assist NAMIC members.
