2013 Best Practices Study

Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000

Revenue by Specialty/Niche

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

Average

+25% Profit

+25% Growth

% of Agencies having an Industry and/or Product Specialty/Niche Total INDUSTRY Specialty/Niche Revenues as % of Agency Net Revenue Total PRODUCT Specialty/Niche Revenues as % of Agency Net Revenue

55.9%

50.0%

75.0%

18.2%

11.8%

20.1%

13.1%

3.8%

17.7%

Average Revenue per Specialty

% of Agencies Having Specialty

Top 5 INDUSTRY Specialties Construction

$475,781 $222,983 $323,910 $225,046

23.5% 14.7% 11.8% 11.8%

Real Estate

Energy

Agriculture

N/A

*

*

*Insufficient Data Other industry specialties included new and used auto dealers, self-storage facilities, scrap dealers, medical malpractice, high-end personal lines, education, technology, franchises, rental associations and home builders associations.

Average Revenue per Specialty

% of Agencies Having Specialty

Top 5 PRODUCT Specialties Commercial Property

$134,752 $192,727 $77,425 $163,501 $14,418

35.3% 29.4% 23.5% 23.5%

Workers Compensation

Professional & Management Liability

Surety/Bonds Environmental

8.8% Other product specialties included garage and dealers, DPO, EPLI, crime, inland marine, umbrella, health, dental, voluntary, general liability, auto, floater, equipment, earthquake, flood, accident, wind, BOP, personal package, crop/hail pollution, liquor, and builders risk.

2013 Best Practices Study

Agencies with Revenues Between $1,250,000 and $2,500,000

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