2005 Best Practices Study

AGENCIES WITH REVENUES BETWEEN $1,250,000 AND $2,500,000

PRODUCER INFORMATION

2005

A.

New Producer Hiring

+25% Profit

+25% Growth

Average

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

PROFILE

32.3%

*

37.5%

Number of New Producers Hired

1.2

*

1.3

REVENUES/ EXPENSES

Average Annual Compensation Per New Producer

$38,889

*

$35,000

FINANCIAL STABILITY

*Insufficient Data

Where New Producers Were Found

Outside of Industry* 40.0%

Directly from college or graduate school 0.0%

EMPLOYEE OVERVIEW

Another insurance broker 30.0%

PRODUCER INFO

An insurance carrier 30.0%

SERVICE STAFF INFO

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

TECHNOLOGY

INSURANCE CARRIERS

42