42 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$1,250,000 and
$2,500,000
42
Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Revenue by Specialty/Niche
*Insufficient Data
Other industry specialties included new and used auto dealers, self-storage facilities, scrap dealers, medical malpractice,
high-end personal lines, education, technology, franchises, rental associations and home builders associations.
Average
+25% Profit
+25% Growth
% of Agencies having an Industry and/or
Product Specialty/Niche
55.9%
50.0%
75.0%
Total INDUSTRY Specialty/Niche Revenues
as % of Agency Net Revenue
18.2%
11.8%
20.1%
Total PRODUCT Specialty/Niche Revenues
as % of Agency Net Revenue
13.1%
3.8%
17.7%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 INDUSTRY Specialties
Construction
$475,781
23.5%
Real Estate
$222,983
14.7%
Energy
$323,910
11.8%
Agriculture
$225,046
11.8%
N/A
*
*
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 PRODUCT Specialties
Commercial Property
$134,752
35.3%
Workers Compensation
$192,727
29.4%
Professional & Management Liability
$77,425
23.5%
Surety/Bonds
$163,501
23.5%
Environmental
$14,418
8.8%
Other product specialties included garage and dealers, DPO, EPLI, crime, inland marine, umbrella, health, dental,
voluntary, general liability, auto, floater, equipment, earthquake, flood, accident, wind, BOP, personal package, crop/hail
pollution, liquor, and builders risk.