70 / 168
2015 Best
Practices Study
Agencies
with Revenues
Between
$2,500,000 and
$5,000,000
70
Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000
Key Benchmarks
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Note: See page 163 for an explanation of column headings
Most Successful Producer Productivity
Commercial P&C
Group L&H
New Commissions Produced Annually
Average
$77,827
$62,875
Top 25%
$132,948
$166,758
Total Commissions in Producer’s Book
Average
$672,900
$322,691
Top 25%
$1,038,708
$676,017
Average Commissions per Account
Average
$6,449
$4,276
Top 25%
$16,115
$11,803
Most Successful Producer Productivity
How Most Successful Producers Spent Time
Most Successful
Commercial P&C Producer
Most Successful
Group L&H Producer
Personal
Training/
Education/
Prof. Dev.
6.9%
Soliciting New Business
27.8%
Mgmt/Personnel/
Agency Admin.
20.6%
Servicing
Existing Accounts
44.7%
Personal
Training/
Education/
Prof. Dev.
6.8%
Soliciting New Business
25.9%
Mgmt/Personnel/
Agency Admin.
16.6%
Servicing
Existing Accounts
50.6%
Personal Lines Producers, whose main responsibility is to solicit and write new personal lines
accounts and who are not responsible for the day-to-day servicing of the business, can be very
productive. On average the most successful Personal Lines Producer in this revenue category
generated
$65,689
per year in new personal lines commissions with an average commission
per account of
$401
. (Typically, the total commissions in the producer’s book are not tracked
since they are not paid renewal commission. Most often, the producers receive a base salary plus
new business commissions.)