Pruhealth slams "unsustainable" commission levels and unveils new model
PruHealth has adopted what it believes to be a more sustainable and transparent commission model.
The company confirmed that all new SME business is now written on a 10:10 commission basis, with 10% initial commission and 10% at each renewal. It added that the move was designed to reward long-term partnerships with brokers.
Dave Priestly, sales director at PruHealth criticised the current market's focus on low new business premiums and high initial commissions, labelling it unsustainable.
He warned that the industry needed to adapt in order to decrease churn and over-commoditising the group
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