99 / 191
2010 Best
Practices Study
Agencies
with Revenues
Between
$5,000,000 and
$10,000,000
99
Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Staff Service Info
Technology
Insurance Carriers
Appendix
Revenue by Specialty/Niche
* “All Others” includes Schools, Churches, Fire Departments, Non-Profits, Auto Dealers, Grocery Stores, Recording Studios,
Architects/Engineers, Public Entities, Fast Foods, Defense Contractors
Average
+25% Profit
+25% Growth
% of Agencies having an Industry and/or
Product Specialty/Niche
55.6%
66.7%
50.0%
Total INDUSTRY Specialty/Niche Revenues as % of
Agency Net Revenue
27.3%
19.5%
25.5%
Total PRODUCT Specialty/Niche Revenues as % of
Agency Net Revenue
12.9%
14.1%
12.5%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 INDUSTRY Specialties
Energy
$1,154,964
2.3%
Health Care
$1,064,567
3.0%
Hospitality
$994,828
2.3%
Construction
$937,350
6.0%
Transportation
$635,846
3.8%
All Others*
$565,323
16.5%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 PRODUCT Specialties
Surety/Bonds
$510,352
1.5%
Professional & Management Liability
$487,908
3.8%
Captives
$312,426
0.8%
N/A
N/A
All Others*
$566,632
1.5%
* “All Others” includes Flood and Benefits
“Many disagree, but I think the day of the generalist insurance agent has largely
come and gone. Our young guys really buy into this and their successes validate
this. Our generalists simply face too much great competition.”