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2019 Best Practices Study


 

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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

  • Introduction & Overview
  • NEW in 2019:  Foundations: "Laying the Groundwork" including compensation information for service staff
  • 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

Do you want to know what the best agencies are doing to achieve superior results? Use the benchmarks to create your agency's performance dashboard.

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

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