2005 Best Practices Study

AGENCIES WITH REVENUES BETWEEN $2,500,000 AND $5,000,000

PRODUCER INFORMATION

2005

A.

New Producer Hiring

+25% Profit

+25% Growth

Average

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

PROFILE

45.2% 37.5% 62.5%

Number of New Producers Hired

1.7

2.3

1.8

REVENUES/ EXPENSES

Average Annual Compensation Per New Producer

$46,243 $31,333 $36,200

FINANCIAL STABILITY

Where New Producers Were Found

Outside of Industry* 31.8%

Directly from college or graduate school 8.9%

EMPLOYEE OVERVIEW

Another insurance broker 31.1%

PRODUCER INFO

An insurance carrier 28.2%

SERVICE STAFF INFO

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

TECHNOLOGY

INSURANCE CARRIERS

58