Major broker OAMPS Insurance Brokers has launched an initiative to reward brokers who consistently grow their portfolios.

The MyBook scheme will see brokers employed within the Wesfarmers-owned company earn up to 10% of their book value over any five-year period – in addition to their usual salary and bonuses – if they grow the portfolio by 10% each year and meet some additional requirements.

To help brokers achieve MyBook eligibility OAMPS is introducing a support program featuring new tools, improved information at portfolio level and coaching.

Wesfarmers Insurance MD Rob Scott says the initiative rewards the delivery of quality client service. “MyBook is about sharing the wealth and benefits of growth with all high-performing brokers, not just a select few who are shareholders,” he said.

“Our broking operations… have achieved strong growth in recent years and we see MyBook as a unique proposition in the market to help support our future expansion.”