2013 Best Practices Study

Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000

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

64.4%

45.5%

72.7%

23.9%

16.1%

28.0%

9.1%

1.2%

12.4%

Average Revenue per Specialty

% of Agencies Having Specialty

Top 5 INDUSTRY Specialties Construction

$835,648 $316,789 $277,464 $645,359 $979,896

31.1% 22.2% 20.0% 20.0% 15.6%

Non-Profits Healthcare

Manufacturing

Energy

Other industry specialties included real estate, hospitality, voluntary benefits, marine industry, financial institutions, habitational (condominium & homeowners associations), bed & breakfast inns, religious institutions, main street business, distributing, schools, technology, automotive, restaurants, municipalities, food and beverage, retail, lumber & wood products, and fireworks/pyrotechnics.

Average Revenue per Specialty

% of Agencies Having Specialty

Top 5 PRODUCT Specialties Workers Compensation

$301,879 $104,585 $214,219 $360,977

35.6% 22.2% 22.2% 22.2%

Professional & Management Liability

Surety/Bonds

Commercial Property

N/A

*

*

*Insufficient Data

Other product specialties included specialty marine products, group/individual life and health, repo and mortgage protection, umbrella, package, commercial auto, excess liability, D&O and general liability,

2013 Best Practices Study

Agencies with Revenues Between $2,500,000 and $5,000,000

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