Sales Force Management Practices and Revenue Performance in Selected Nigerian Insurance Companies

This study investigates the relationship between sales force management practices and revenue performance in selected Nigerian insurance companies, with a focus on firms operating in Rivers State, South South Nigeria. The Nigerian insurance industry has consistently underperformed relative to its potential, with low penetration rates attributed partly to inadequate sales force management and motivation. Effective sales force management encompasses recruitment, training, performance incentivisation, and supervision, all of which collectively determine the productivity of insurance agents in converting prospects to policyholders. The research adopts a descriptive survey design with data collected from 160 sales managers and 220 insurance agents across five firms through structured questionnaires and interviews. Multiple regression analysis assesses the contributions of individual sales force management dimensions to revenue generation. The study also examines whether agent motivation moderates the effect of management quality on sales performance. Preliminary findings indicate that performance-based incentive structures and ongoing product training have the strongest positive effects on revenue outcomes, while inadequate supervision is associated with high agent turnover and revenue leakage. Recommendations are directed at insurance executives, human resource and sales managers, and the National Insurance Commission (NAICOM) on designing sales force management frameworks that improve productivity and support industry-wide revenue growth. Keywords: sales force management, revenue performance, insurance industry, Rivers State, agent motivation