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PRODUCER INFORMATION
A.
New Producer Hiring
Where New Producers Were Found
Future Hiring Plans
AGENCIES WITH REVENUES BETWEEN $5,000,000 AND $10,000,000
116
EXECUTIVE
PERSPECTIVES
PROFILE
REVENUES/
EXPENSES
FINANCIAL
STABILITY
EMPLOYEE
OVERVIEW
PRODUCER
INFO
SERVICE
STAFF
INFO
TECHNOLOGY
INSURANCE
CARRIERS
APPENDIX
"We got over our love
affair with acquisitions
and began focusing on
young producers. We
wasted a lot of time
and money doing bad
deals with tired pro-
ducers. We do much
better in attracting and
developing young kids
who still have some
gas in their tanks."
Average
+25%
Profit
+25%
Growth
% of Agencies that Hired
a New Producer During
Last Fiscal Year
67.7% 37.5% 62.5%
Number of New
Producers Hired
2.1
2.3
1.4
Average Annual
Compensation Per New
Producer
$58,593
*
$65,250
“Successful” New
Producers
76.3%
of producers hired over the
last 5 years have met their
production goals.
Another
insurance broker
47.7%
An insurance
carrier
19.0%
Directly from college
or graduate school
8.0%
Outside of Industry*
25.3%
*Other industries mentioned most often include Financial, Stock Brokerage, Manufacturing,
Medical/Pharmaceuticals, and Office Equipment/Furniture.
Average
+25%
Profit
+25%
Growth
% of Agencies that Plan to Hire a New
Producer During Current Fiscal Year
87.1% 87.5% 87.5%
Number of New Producers to be Hired
2.3
1.6
1.9
*Insufficient Data