2005 Best Practices Study

AGENCIES WITH REVENUES BETWEEN $5,000,000 AND $10,000,000

PRODUCER INFORMATION

2005

A.

New Producer Hiring

+25% Profit

+25% Growth

Average

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

PROFILE

81.8% 77.8% 88.9%

Number of New Producers Hired

2.4

2.1

4.0

REVENUES/ EXPENSES

Average Annual Compensation Per New Producer

$69,050 $77,286 $72,651

FINANCIAL STABILITY

Where New Producers Were Found

Outside of Industry* 26.8%

Directly from college or graduate school 4.2%

EMPLOYEE OVERVIEW

Another insurance broker 40.0%

PRODUCER INFO

An insurance carrier 28.9%

SERVICE STAFF INFO

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

TECHNOLOGY

INSURANCE CARRIERS

74