Since 1993, Reagan Consulting and the Big “I" have partnered to produce the Best Practices Study, a comprehensive examination of the top-performing agencies across the country. The study compiles benchmarking data on the key metrics of agency performance and value, including revenue growth and profitability, financial stability, expense management, and sales and operations productivity.
Data is provided for each of six revenue categories, ranging from under $1.25 million to over $25 million, and the aggregate results of the highest-performing firms are included in the study. These agencies earn the prestigious status of “Best Practices Agency" and receive the industry recognition and exclusive benefits that accompany it.
2019 marks the beginning of a new three-year Best Practices Study cycle, which means we are now accepting nominations for agencies in each revenue category. Agencies vying for a nomination and invitation are considered on a series of qualities that define Best Practices: a history of consistent growth and profitability, strong professional management, sound financial practices, customer service excellence, and positive carrier relationships.
Think your agency has what it takes to become a Best Practices Agency? The time to act is now! A select group of independent agencies have already been nominated for the 2019 Best Practices Study by Big “I" state associations and supporting vendor and company partners, but it's not too late to be considered.
To put yourself in the running, simply fill out the self-application form or let your local Big “I" state association staff know you're interested. Learn more about the process, how you can prepare to participate and all the benefits of doing so on the Become a Best Practices Agency webpage.
Note that even if you don't qualify as a Best Practices Agency, all study participants receive Reagan Consulting's Agency Performance Analysis report—a $495 value. This report contains actionable data and statistics that agency principals can use to compare their agency against Best Practices agencies in their revenue category.
For more information on the Best Practices program and to get your copy of the 2018 Best Practices Study Update, visit Best Practices online or email Best Practices staff.