Improving the personnel selection procedures and retention rates for life insurance field underwriters.

Abstract

This investigation was initiated to discover an objective method of assessing and evaluating prospective life insurance field underwriters. A personnel selection instrument was designed (Field Underwriter Appraisal Wheel) to facilitate measurement of critical traits characteristic of successful field underwriters. It was hypothesized that if Appraisal Profile scores achieved by successful field underwriters were significantly greater that scores attributed to unsuccessful field underwriters and the general population utilization of Field Underwriter Appraisal Wheel instrumentation could be used effectively in future selection procedures in the lite insurance industry. The three major components measured by the instrument were soliciting courage, Markets, and patterns of success. Appraisal Profile scores achieved by twenty-five successful field underwriters were statistically compared to scores for unsuccessful field underwriters and twenty-tive members from the general population. Total Appraisal Profile meaD scores for successful field underwriters were significantly different from mean scores for unsuccessful field underwriters to .001 level of confidence. Mean Appraisal Profile for successful field underwriters were also significantly differs mean Appraisal Profile scores for the general population to .001 level of confidence. There was DO significant difference between the meaD scores for unsuccessful field underwriters and the general Comparing the range of distribution for the three groups studied successful field underwriters achieved the highest mean score, the highest-high-score and the highest-low-score of the three groups. The original hypotheses that there are significant differences between the retention rates for life insurance field underwriters who possess greater amounts of soliciting courage, markets, and patterns of success than those individuals who possess these traits to a lesser degree were accepted.