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May 05
Stats, Facts and Tips to Help Your Agency Grow

A wealth of potentially profitable ideas awaits readers of the 2015 Best Practices Study Update. The latest release includes data from the actual reported results of the 213 Best Practices participating agencies.

 

You can search and sort these results in numerous ways, beginning with the data specifically applicable to your agency revenue size, with six categories ranging from “under $1.25 million” to “over $25 million.”

 

Once you’re there, dig deeper to compare according to:

  • Revenue: by source, niche, account concentration or size, and acquisition information
  • Expenses: compensation, selling, operating, administrative and change over the past year
  • Profitability: ratios for profit and loss, as well as financial stability
  • Producer information: number (commercial, personal, life-health), commissions, compensation, time management and source of hire
  • Technology: staffing, expense and vendor or type of system
  • Carriers: number represented, commission and revenues, and use of service centers

You can also uncover other topics of interest to your future planning, such as agency corporate structure, employees by number and responsibility, population density of home location and average number of locations.

 

Learn more about Best Practices online, and be sure to check out the free webinar series Best Practices for Agency Operations, which will continue on June 15 with a 15-minute session on mergers & acquisitions.

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