ALEXANDRIA, Va., Feb. 24, 2011 —The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) and Reagan Consulting, an Atlanta-based management consulting firm, recently hosted a Best Practices Symposium event in Palm Springs and recognized the top agencies and supporting companies.
“The Big ‘I’ was honored to have more than 100 of the 224 independent agencies and brokers of varying sizes across the country that were selected as Best Practices agencies participate in this year’s symposium,” said Robert Rusbuldt, Big “I” president and CEO. “It speaks volumes of their commitment and leadership in the agency community that they took the time and effort to participate in the study and attend the symposium.”
Six “Top Performing” agencies were singled out for their operational excellence, financial results and overall management achievement in their respective revenue-size categories. To read more about the following “Top Performers” click HERE.
• Barney & Barney, LLC, San Diego, Calif.
• Bigham Kliewer Chapman & Watts, Killen, Texas
• Bridges Group Insurance, Norton, Kan.
• Engle Paxson & Hawthorne Insurance Services, Leesburg, Va.
• Tave Risk Management, Northbrook, Ill.
• York International Agency, Yonkers, N.Y.
“These agencies serve as models for agencies and brokerages who want to take their business to the next level and experience significant gains in sales, reputation and customer appreciation,” says Madelyn Flannagan, Big “I” vice president of agent development, research and education. ““We are extremely proud of these ‘Best Practices’ agencies and the professionalism and standard of quality that the industry strives to achieve.”
Every three years, the Big “I” and Reagan Consulting join forces to select “Best Practices” firms throughout the nation for outstanding management and financial achievement in six revenue categories (under $1,250,000; $1,250,000 to $2,500,000; $2,500,000 to $5,000,000; $5,000,000 to $10,000,000; $10,000,000 to $25,000,000; and over $25,000,000). Agencies are nominated by either a Big “I”-affiliated state association or an insurance company and qualified based on its operational excellence.
The Best Practices Study was initiated by the Big “I” in 1993 as the foundation for efforts to improve agency performance and create higher valued agencies. The survey and study of leading independent insurance agencies documents the business practices of these “best” agencies and urges others to adopt similar practices.
Twelve insurance companies and four industry vendors that provided financial support for the research and development of the study – Applied Systems, Addis Intellectual Capital, Central Insurance Cos., Chubb, EMC Insurance Companies, Encompass Insurance, Erie Insurance, Great American Insurance Group, The Hanover Insurance Group, Harleysville Insurance, Imperial Credit Corporation, InsurBanc, Kemper A Unitrin Business, Liberty Mutual, MetLife Auto & Home, and Zurich North America – were also recognized for their sponsorship.
Chubb received special recognition during the event for their continuous sponsorship of the annual Best Practices Study. The carrier was among the first to step forward to support the Best Practices initiative and was the first to sign on as a study sponsor. Although the study has maintained a loyal core of sponsors through the years, Chubb is the only member of the original group that has continued its sponsorship without interruption for nearly two decades.
Founded in 1896, IIABA is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.