| First conducted in 1993 and updated annually to reflect new challenges and pressures facing the industry, the Best Practices survey is conducted by Reagan Consulting and the Big "I" as a joint initiative and analyzes the performance of the nation's leading agencies to uncover the methods, procedures, techniques, strategies, and business practices they use to achieve superior results. The Best Practices Study also establishes benchmarks against which agency performance can be measured and offers guidelines on how to use the study as a tool to help improve operations and maximize potential. The tools are a great resource for agency managers or principals who are interested in reviewing their operations to enhance agency performance and profitability. The Latest: Best Practices Agency Nomination Cycle Ends With the support of our carrier partners and state association efforts, over 2,300 agencies have been nominated to participate in the 2022 Best Practices research cycle. This is an increase from the previous cycle with about 1,500 nominations, and we hope to engage new agencies in the process which is a valuable learning experience that can lead to better agency management and identification of growth opportunities.
All nominated agencies have been notified of their invitation to participate and become a Best Practices Agency. Nominees were also informed of the 2022 Study Enhancements which include a modernization of the process for collecting and analyzing the data and a more dynamic and interactive interface for users and supporters. All previous Best Practices Agency participants will have their information pre-populated and ready for update and their opportunity to requalify and retain status.
Please note these communications do not indicate the source of the nomination, so if you would like to let your nominees know that it was your organization supporting them through the process, now is a good time to do so. This is an outreach opportunity to highlight your awareness of their industry excellence and highlight your partnership.
Stay tuned as this process continues throughout 2022 with the new Best Practices Agency announcements and new comprehensive study release. The Best Practices Symposium will take place in conjunction with the Big “I” Winter Meeting in Savannah, Georgia on January 18-20, 2023, and is open exclusively to Best Practices Agency staff and study sponsors. We ask all study sponsors to mark their calendars and additional information will be shared by Reagan Consulting. Resource Refresher The short and impactful Best Practices for Agency Operations webinar recordings are available online. These free webinars are designed to provide short bits of information that can help any agency achieve Best Practices Agency status and are also a great way to learn more about the value of the information on a carrier level. The latest topics include an InsurTech update, a session on Updating Your Perpetuation Plan, and 2021 Best Practices Study Update Highlights. Have you seen the Best Practices video that demonstrates the Best Practices improvement process in 75 seconds? Watch here and we encourage you to copy, share or embed the link and use the resource on your platforms and communication channels. Work continues on Best Practices talking points to demonstrate the program’s value along with a webinar session to help field staff easily discuss the resources and benefits during agency conversations. The Council for Best Practices is charged with providing leadership and tools for continuous quality improvement in agency-company operations and relationships in order to exceed customer expectations, enhance agency value and strengthen agency-company market share. To learn how your company can participate on the Council for Best Practices or for other Best Practices questions, contact Jennifer Becker, Director of Education Programs.
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