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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.”