2013 Best Practices Study

Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000

Key Benchmarks Mgmt. Perspectives Profile Revenues Expenses Profitability Employee Overview Producer Info Service Staff Info Technology Insurance Carriers Appendix

Most Successful Producer Productivity

Most Successful Producer Productivity

Commercial P&C

Group L&H

Average Top 25% Average Top 25% Average Top 25%

$103,695 $184,668 $906,364 $1,637,556

$98,372

New Commissions Produced Annually

$219,289 $625,429 $1,278,180

Total Commissions in Producer’s Book

$10,736 $30,208

$8,848

Average Commissions per Account

$19,673

How Most Successful Producers Spent Time

Most Successful P&C Producer

Most Successful L&H Producer

Mgmt/Personnel/ Agency Admin. 10.5%

Mgmt/Personnel/ Agency Admin. 9.2%

Soliciting New Business 36.7%

Soliciting New Business 36.9%

Personal Training/

Personal Training/

Education/ Prof. Dev. 7.3%

Education/ Prof. Dev. 9.2%

Servicing Existing Accounts 45.5%

Servicing Existing Accounts 44.8%

Personal Lines Producers, someone whose main responsibility is to solicit and write new personal lines accounts and is not responsible for the day-to-day servicing of the business, can be very productive. On average the most successful Personal Lines producer in this revenue category generated $71,124 per year in new personal lines commissions with an average commission per account of $612 . (Typically, the total commissions in the producer’s book are not tracked since they are not paid renewal commission. Most often, the producers receive a base salary plus new business commissions.)

2013 Best Practices Study

Agencies with Revenues Between $5,000,000 and $10,000,000

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