2002 Best Practices Study

equivalents dedicated to the management and ongoing support of an agency’s information technology solutions and the compensation associated with those employees. We have also included expanded information on typical acquisition transitions. Details include the multiple of revenues paid, the currency used, and how the deal was structured. Need More Best Practices Information? The 2002 Best Practices Study is available in two formats – hard copy and electronically. The hard copy can be purchased via the IIABA distribution center (800-261-4422). The electronic version can be accessed via the websites of IIABA and Reagan Consulting (www.independentagent.com & www.reaganconsulting.com). From these sites, users can enter the Best Practices Gateway home page to view an HTML version of the study, download a Best Practices comparison spreadsheet to compare their year-end results with the study’s results, and access the complete family of Best Practices resources. As in previous years, the update provides an analysis of agencies by revenue size, by region and by population density of the city in which they primarily operate. Also included is an analysis of agencies that indicated that Personal Lines is an important source of revenue. Other Best Practices Studies and Tools In addition to providing benchmarks and documenting the business practices of leading agencies, the IIABA and Reagan Consulting periodically address specific business practices or focus on issues of critical importance to independent agencies. Such studies include The Best Practices of Leading Sales Organizations and The Best Practices for Perpetuation and Management Succession . Some of the tools designed to help agencies measure and improve their performance include the Agency Self-Diagnostic Tool and the Joint Agency Company Planner . These Best Practices studies and tools, which are part of a complete line of Best Practices products and services, can be ordered through the IIABA Distribution Center at 800-261-4422 or call the IIABA Education Department at 1-800-221-7917 for more information.

Copyright © 2002 by the Independent Insurance Agents & Brokers of America and Reagan Consulting, Inc. All rights reserved.

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