88 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$2,500,000 and
$5,000,000
88
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
Where New Producers Were Found
UNDER
age 30 from
WITHIN
the insurance industry
OVER
age 30 from
WITHIN
the insurance industry
UNDER
age 30 from
OUTSIDE
the insurance industry
OVER
age 30 from
OUTSIDE
the insurance industry
+25% Profit
Average
+25% Growth
17.9%
35.9%
25.6%
20.5%
0.0%
30.0%
30.0%
40.0%
0.0%
33.3%
50.0%
16.7%
Outside of Industry
(includes all study group responses)
Other Sales
(
auto parts,
chemical, furniture, radio
advertising, medical /
pharmaceutical
,
real estate,
retail)
Agriculture, Banking,
Casinos, Coaching, College
Graduates, Construction,
Education, Energy,
Engineering, Vehicle/
Equipment Rental,
Financial Services, Food
Services, Golfing and
Professional Sports,
Government, Healthcare,
Hospitality, Human
Resources, Information
Technology, Legal,
Management Consulting,
Manufacturing, Non-
Profits, Printing, Public
Relations, Real Estate,
Recruiting, Self-Employed,
Shipping, Social Work,
Telecommunications,
Transportation, Waste
Removal
Average
+25% Profit
+25% Growth
New Producer Hiring
% of Agencies that Hired New Producers Last Year
57.8%
36.4%
63.6%
# of New Producers Hired Last Year
1.5
1.5
1.4
Average Annualized Wages per Producer Hired
$50,415
$73,333
$63,000
% of Producers Hired Over Last 5 Years That Met
Their Production Goals
57.7%
85.0%
49.0%
New Producers
“We use an intern program from the local university business school and
have had some success.”