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

). 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.

by the Independent Insurance Agents & Brokers of America