74 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$2,500,000 and
$5,000,000
74
Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000
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 real estate, hospitality, voluntary benefits, marine industry, financial institutions,
habitational (condominium & homeowners associations), bed & breakfast inns, religious institutions, main street
business, distributing, schools, technology, automotive, restaurants, municipalities, food and beverage, retail, lumber &
wood products, and fireworks/pyrotechnics.
Average
+25% Profit
+25% Growth
% of Agencies having an Industry and/or
Product Specialty/Niche
64.4%
45.5%
72.7%
Total INDUSTRY Specialty/Niche Revenues
as % of Agency Net Revenue
23.9%
16.1%
28.0%
Total PRODUCT Specialty/Niche Revenues
as % of Agency Net Revenue
9.1%
1.2%
12.4%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 INDUSTRY Specialties
Construction
$835,648
31.1%
Non-Profits
$316,789
22.2%
Healthcare
$277,464
20.0%
Manufacturing
$645,359
20.0%
Energy
$979,896
15.6%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 PRODUCT Specialties
Workers Compensation
$301,879
35.6%
Professional & Management Liability
$104,585
22.2%
Surety/Bonds
$214,219
22.2%
Commercial Property
$360,977
22.2%
N/A
*
*
*Insufficient Data
Other product specialties included specialty marine products, group/individual life and health, repo and mortgage
protection, umbrella, package, commercial auto, excess liability, D&O and general liability,