Skip Ribbon Commands
Skip to main content
S1-Post-Only

2020 Best Practices Study Update

BP-2020-Header_1297x259.jpg.jpg

The 2020 Best Practices Study Update can be used as a standalone for the special focus report, financial and benchmarking information. If this is your first time with Best Practices, the special focus information "Foundations: Laying the Groundwork" provided in the 2019 Best Practices Study may be helpful to create a full picture of how Best Practices can benefit an agency, but it is not required.

The annual Best Practices Study (BPS) originated in 1993 as an initiative by the Independent Insurance Agents & Brokers of America (or Big I) to help its members build and maintain the value of their most important assets, their agencies. By studying the leading agencies and brokers in the country, the association hoped to provide member agents with meaningful performance benchmarks and business strategies that could be adopted or adapted for use in improving agency performance, thus enhancing agency value. The Big I retained the principals of Reagan Consulting to create and perform the first Best Practices Study. Annual updates are conducted to provide important financial and operational benchmarks and the Study is recognized as one of the most thoughtful, effective and valuable resources ever made available to the industry.

What's Included
  • Int2020-BPS-Cover.jpgroduction & Overview
  • 2020 SPECIAL FOCUS: Re:Think: Embracing the Challenges of a Post-COVID World 
    • Financial Foundations
    • Personnel
    • Customers
    • The Future
  • Executive Summary and Analysis of Agencies
    • Under $1.25M in revenue
    • Between $1.25M and $2.5M in revenue
    • Between $2.5M and $5.0M in revenue
    • Between $5.0M and $10.0M in revenue
    • Between $10.0M and $25.0M in revenue
    • Over $25.0M in revenue
  • Cross Category Comparision
    • Agency Specialization & Speciality Revenues %
    • Staffing Information
    • Revenue Growth
    • Sales Velocity
    • Expenses
    • Profitability
    • Rule of 20
  • Glossary of Terms Used
The 2020 Best Practices Study Update can be used as a standalone for the special focus report, financial and benchmarking information. If this is your first time with Best Practices, the special focus information "Foundations: Laying the Groundwork" provided in the 2019 Best Practices Study may be helpful to create a full picture of how Best Practices can benefit an agency, but it is not required.



image 
​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556
email: info@iiaba.net

Follow Us!

Empowering Trusted Choice®
Independent Insurance Agents.​