Broker-only insurer MMA has launched variable commission rates for brokers transacting new business for MMA’s Master Tradesman product.
From July brokers can select the amount of commission they will receive when placing new business for the Master Tradesman product using MMA’s Broker Online system. The change to variable commission rates follows discussions between MMA and its broker partners.
Peter Knowles, head of UK development at MMA commented: “Our brokers are experts in their markets; they know their clients and their competition. Offering variable commission levels gives our brokers greater control over how they run their businesses and allows them greater flexibility with their clients.
“MMA runs regular broker roadshows which enable us to get out and meet our brokers and gain feedback. The introduction of variable commission rates has been a point of discussion for some time and we wanted to respond to this feedback.” Variable commission rates are available initially for MMA’s Master Tradesman product which if successful will be rolled out across all additional products in the near future.