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PRODUCER INFORMATION
A.
New Producer Hiring
Where New Producers Were Found
Future Hiring Plans
AGENCIES WITH REVENUES BETWEEN $500,000 AND $1,250,000
44
EXECUTIVE
PERSPECTIVES
PROFILE
REVENUES/
EXPENSES
FINANCIAL
STABILITY
EMPLOYEE
OVERVIEW
PRODUCER
INFO
SERVICE
STAFF
INFO
TECHNOLOGY
INSURANCE
CARRIERS
APPENDIX
"The cost is almost
unaffordable for a small
agency. We have suc-
cessfully done this twice
only to have the large bro-
kers 'buy' the sales person
away from us once
trained." This statement
reflects one of the most
serious problems faced by
agencies of this size, one
that drives many agencies
of this size to merge or sell
to a third party.
Average
+25%
Profit
+25%
Growth
% of Agencies that Hired
a New Producer During
Last Fiscal Year
26.7% 37.5% 50.0%
Number of New
Producers Hired
1.3
1.0
1.5
Average Annual
Compensation Per New
Producer
$30,180 $18,000 $31,655
“Successful” New
Producers
83.2%
of producers hired over the
last 5 years have met their
production goals.
Another
insurance broker
50.0%
An insurance
carrier
0.0%
Directly from
college or
graduate school
25.0%
Outside of Industry*
25.0%
*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
46.7% 50.0% 62.5%
Number of New Producers to be Hired
1.1
1.0
1.2