138 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$10,000,000 and
$25,000,000
138
Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Revenue by Specialty/Niche
Other industry specialties included A&E, agriculture, banking, business services, credit unions, education, energy,
entertainment, estate services, franchise programs, government, hardware/lumber/building materials, hospitality,
jewelers, legal firms, schools (private, charter and independent), public school districts, public entities, municipalities,
snack & food delivery, specialty products, staffing, technology, telecommunications, towing and recovery,
transportation, and wholesalers.
Average
+25% Profit
+25% Growth
% of Agencies having an Industry and/or
Product Specialty/Niche
72.7%
87.5%
87.5%
Total INDUSTRY Specialty/Niche Revenues
as % of Agency Net Revenue
26.0%
27.8%
24.3%
Total PRODUCT Specialty/Niche Revenues
as % of Agency Net Revenue
14.3%
7.3%
16.7%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 INDUSTRY Specialties
Real Estate
$1,986,721
30.3%
Construction
$3,557,258
24.2%
Manufacturing
$1,901,442
24.2%
Non-Profits
$1,157,365
21.2%
Healthcare
$1,393,444
18.2%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 PRODUCT Specialties
Workers Compensation
$900,057
51.5%
Commercial Property
$1,029,724
39.4%
Professional & Management Liability
$821,825
36.4%
Surety/Bonds
$656,728
21.2%
N/A
*
*
*Insufficient Data
Other product specialties included captives,environmental, political risk, group medical/life, commercial package,
financial property, umbrella, fees, BOP, crime, boiler & machinery, farm & agriculture, Milliman, Planit, loss control, TPA,
data analytics and related consulting for wellness, general liability, commercial package, commercial auto, and HRIS /
Eservices.