06/29/2022 - Travelers Changes coming tied to Production and Commission
PGI Travelers Agents,
Travelers is moving towards a Booked New Business (BNB)/ PIF minimum threshold that is tied to commissions much like their #1 Competitor.
There are few details involved thus far however the attached provides all the details as they stand today.
What you absolutely need to know now is that your 2022 Booked New Business personal lines production with Travelers will determine your commission levels for 2023 tied to your code. The Agency Partnership Levels Attachment has a chart and suggests a minimum Booked New Business (BNB) threshold of 25. (Travelers will count all Personal lines BNB, Including Umbrellas, Dwelling Fire, and personal specialty lines as part of the Booked New Business benchmark, unlike their #1 competitor, who only counts Auto and Homes.
As we find out more we will make you aware, however, for now. Please make sure you get Travelers 25 pieces of BNB in 2022.
PS: If you are on the Travelers PPP2.0 code this will be something that you will need to be aware of as you graduate and progress.