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2007 Best Practices Study | Agencies with Revenues Between $2,500,000 and $5,000,000 | Producer Info
Agencies with Revenues Between $2,500,000 and $5,000,000
Appendix
Insurance
Carriers
Technology
Service
Staff Info
Producer
Info
Employee
Overview
Financial
Stability
Revenues/
Expenses
Executive
Perspectives
Profile
Producer Information
Where New Producers Were Found
Outside
of Industry
16.7%
Directly From
College or
Graduate
School
11.1%
An
Insurance
Carrier
27.8%
Another
Insurance
Broker
44.4%
New Producer Hiring
Average
+25% Profit
+25% Growth
% of Agencies that Hired New Producers Last Year
60.0%
*
50.0%
# of New Producers Hired Last Year
1.3
*
1.8
Average Annualized Wages per Producer Hired
$55,179
*
$43,750
Future Hiring Plans
Average
+25% Profit
+25% Growth
% of Agencies That Plan to Hire a New Producer
During Current Fiscal Year
66.7%
37.5%
50.0%
Number of Producers to be Hired
1.5
1.3
1.3
“Successful” New
Producers
57.9%
of producers hired over the
last 5 years have met their
production goals
“We hire smart people. They
have to be willing to learn.
They have to be prepared to
handle large accounts and to
solve our clients’ problems. We
do not allow any of them to
coast.”
*Insufficient Data
“Outside of Industry” includes other sales (technology, golf,
pharmaceuticals, food, uniforms), IT consulting, hospitality, fund-raising,
banking, manufacturing, telecommunications, environmental, non-profit,
and trucking