2013 Best Practices Study

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

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%

$74,850

$53,878

New Commissions Produced Annually

$129,409 $521,252 $906,928

$129,382 $249,205

Total Commissions in Producer’s Book

*

$3,493 $7,717

$3,657 $9,582

Average Commissions per Account

*Insufficient Data

How Most Successful Producers Spent Time

Most Successful P&C Producer

Most Successful L&H Producer

Mgmt/Personnel/ Agency Admin. 20.2%

Mgmt/Personnel/ Agency Admin. 11.0%

Soliciting New Business 33.0%

Soliciting New Business 49.2%

Personal Training/

Personal Training/

Education/ Prof. Dev. 7.6%

Education/ Prof. Dev. 8.3%

Servicing Existing Accounts 32.2%

Servicing Existing Accounts 38.5%

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 $32,251 per year in new personal lines commissions with an average commission per account of $293 . (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 $1,250,000 and $2,500,000

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