Get Ready for the 2024 Survey
NAMIC and Aon are teaming up again to significantly enhance the annual Property/Casualty Compensation Survey. The survey is transforming into a module as part of the larger Radford McLagan Compensation Database. NAMIC member participants will be able to access more data than ever before and access customized reports and data cuts on demand. This compensation survey and module serves as a key resource in helping insurance companies ensure their compensation packages are aligned with current market conditions and performance. Data collection takes place from March-April 2024. Join experts from AON as they kick things off with a webinar discussing data collection, data reporting, and several new changes to the survey's online platform.
Points of Contact
Brian Snyder
How to Participate
Participation is required in order to purchase survey module results and all data must be submitted by April 26, 2024. For information on how to participate, please contact Shelley Freitag at McLagan directly: shelley.freitag@aon.com.
Key Dates
- February 26 | Survey Module Data Collection Begins
- March 14 | 2 p.m. Kickoff Webinar
- April 26 | Survey Module Closes
- September | Results Delivered to Participants
- October | Results Webinar
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 | $10-20K | |||
| 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 | $6-$10K |
Note: Participation is required to purchase survey results.
*Savings calculated off the lowest list price
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. Please contact Paige Zick to learn more and be directed to the best resources within Aon for further information and a quote.
Survey Module 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 McLagan directly: shelley.freitag@aon.com
- Core elements of cash and equity compensation
- Year-over-year trend analysis.
Survey module 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
- Total compensation
Survey Module Features
For specific questions relating to the survey module, please contact Shelley Freitag at McLagan directly: shelley.freitag@aon.com.
For general survey questions or questions on how to receive NAMIC member pricing, please contact NAMIC at membership@namic.org or call (317) 875–5250.
About AON's Mclagan
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.