Become a Best Practices Agency
Since 1993 the Best Practices Study has examined top performing agencies across the country. For these agencies, inclusion provides the prestigious status of "Best Practices Agency" and opens the doors to many benefits. Thank you to the company partners whose funding helps support the annual research and the Best Practices Gateway. Note: The information provided is based on the previous cycle timeframe but remains helpful explaining the process.
- Once every three years the Big "I" requests agency nominations from state associations and company partners. A new group of Best Practices Agencies was appointed in summer of 2022. They will retain their status for three years. We will begin accepting agency nominations in 2024 however you can indicate your interest in advance here.
The steps include:
- Agency nominations accepted from carrier partners, state association and via self-nomination forms that include references.
- Nominated agencies are invited to participate.
- Agencies that choose to participate submit detailed financial and operational information which is scored and ranked objectively. Responses to management and industry-related questions also requested with data.The nominated agencies must submit their data by a shared deadline.
- The top agencies in the six revenue categories are included, notified and deemed "Best Practices Agencies." Participants will be selected and notified by Reagan Consulting.
- The Best Practices Agency names will be announced to the industry in September of the cycle year. Congratulations to our 2022 Agencies.
- The Study results are released annually and the current cycle includes the 2022, 2023 and 2024 reports. The next cycle will include 2025, 2025, 2027.
- To retain status, each agency must submit year-end results annually. There is no other commitment.
- Know where you stand. Download and complete the "Comparison Spreadsheet." This workbook will allow you to compare your most recently completed year end results with the results obtained by the Best Practices Agencies and you can calculate performance gaps between the two. All information in the worksheet is found in the annual study.
- Review the free on-demand webinars and understand more about Best Practices.
- Purchase the current study for the narrative and detail on how Best Practices Agencies achieved their results and then benchmark.
- Find your local Big "I" state association and let them know you'd like to be nominated to participate.
- All agencies that are nominated and submit their agency data receive an Agency Performance Analysis from Reagan Consulting valued at $495 even if they do not make the Best Practices Agency status.
- Network with the best in the industry with an exclusive Invitation to the Best Practices Symposium.
- Receive invitations to exclusive education sessions.
- Benefit from national exposure through ads in trade publications.
- Receive a wall plaque and color copy of the media ad indicating your agency with "Best Practices Agency" status
- Utilize the provided media kit to announce status to clients, carriers, community, including a "Best Practices Agency" logo
The purpose of Best Practices research is to compile the operating statistics of the country's leading agents and brokers and includes industry benchmarks related to operational information on growth, profitability, productivity and financial stability.