2005 Best Practices Study

AGENCIES WITH REVENUES OVER $25,000,000

PRODUCER INFORMATION

2005

A.

New Producer Hiring

+25% Profit

+25% Growth

Average

% of Agencies that Hired a New Producer During Last Fiscal Year

PROFILE

93.3% 100.0% 100.0%

Number of New Producers Hired

5.8

4.5

4.3

REVENUES/ EXPENSES

Average Annual Compensation Per New Producer

$80,646 $78,750 $86,165

FINANCIAL STABILITY

Where New Producers Were Found

Outside of Industry* 18.2%

Directly from college or graduate school 16.1%

EMPLOYEE OVERVIEW

Another insurance broker 45.8%

PRODUCER INFO

An insurance carrier 19.9%

SERVICE STAFF INFO

*Other industries mentioned most often include Accounting/Finance, Banking, Construction, Medical/Healthcare, and Retail Sales.

TECHNOLOGY

INSURANCE CARRIERS

106