Since 1993, the Big “I" and Reagan Consulting have partnered to produce the Best Practices Study—a comprehensive examination of the top-performing agencies across the country.
The study compiles benchmarking data on the key metrics of agency performance and value, including revenue growth and profitability, financial stability, expense management, and sales and operations productivity.
Data is provided for each of six revenue categories, which range from under $1.25 million to over $25 million. Nominations for agencies in each of these categories are accepted at the beginning of each three-year study cycle. The aggregate results of the highest performing firms are included in the study and these agencies earn the prestigious status of “Best Practices Agency," as well as industry recognition and exclusive benefits that accompany it.
Best Practices is pleased to provide the following updates:
- With the close of the most recent three-year Best Practices cycle, the 2018 research is available for purchase. This September, a new group of Best Practices agencies will be announced. Meanwhile, the 2019 Best Practices report will be made available with the latest financial and benchmarking information. Details will be posted on the Best Practices page and shared directly with all Council for Best Practices representatives.
- The 2019 Best Practices for Agency Operations webinar series is now taking registration. The 15-minute sessions offer bite-size information on Best Practices related topics. This year, the series offers education on producer recruiting, perpetuation planning, highlights from the 2019 study and a bonus session about planning for potential HR issues. These sessions are informative for both internal staff and appointed agents. All are welcome to register for the live session or watch on-demand replays.
- All Best Practices sponsor company partners (those who provide support to Reagan Consulting for study research) should mark their calendars to attend the exclusive Best Practices Symposium which will take place Jan. 15-17, 2020, in New Orleans. This event takes place every three years and is the best place to network with Best Practices agencies and benefit from the education provided. The event invitations will be sent from Reagan Consulting and questions can be directed to Michelle Appelbaum or Tom Doran. The Council for Best Practices meeting will take place on Jan. 14, 2020, and is open to all representatives.
The Council for Best Practices is charged with providing leadership and tools for continuous improvement in independent agency-company operations and relationships to exceed customer expectations, enhance agency value and strengthen agency-company market share.
Direct questions, such as how your company can participate in the Council for Best Practices, to Jennifer Becker, Director of Education Programs.