Partners Life axes volume-based incentives

From October 1, the insurer will no longer offer a volume criteria for bonus commission.

Current bonus levels will be underpinned for six months.

Partners Life is working on an alternative set of criteria for bonus commissions, which may include factors such as persistency and policy activity. That is yet to be finalised.

Managing director Naomi Ballanytne said the insurer had offered a volume-based commission since it launched but it was clear that the regulator did not view as appropriate any sales incentives that were tied to volumes sold.