The 2020 Best Practices Study Update is available and provides benchmarking figures and an analysis of the latest financial and operating results of the study's participating agencies.
Organized by revenue size from less than $1.25 million to more than $25 million, the report is easy to use and contains meaningful information for every agency, regardless of size or mix of business. It's important to note that the results contained in the 2020 Study reflect agencies' 2019 performance and therefore do not take into account the events of 2020.
As the industry looks ahead, the Best Practices Agencies continue to lead the charge when it comes to effectively navigating change and the 2020 Update offers a special feature white paper with examples of how agencies can learn from Best Practices agencies by rethinking their financial foundations, personnel, customers, and the future to embrace the challenges of a post-COVID-19 world. By utilizing the metrics in the report as helpful reference points, agencies can begin to adapt, innovate and thrive in 2020's uncertain environment.
First published in 1993, the Best Practices annual report documents leading independent insurance agencies' business practices, providing the industry with an unparalleled benchmarking tool and resource.
Visit the Best Practices page to order your copy of the report, view infographics that help explain key metrics and benefit from short explanatory on-demand webinars that bring concepts to life.
Questions can be sent to Best Practices staff.