2005 Best Practices Study
AGENCIES WITH REVENUES BETWEEN $10,000,000 AND $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
93.1% 87.5% 100.0%
Number of New Producers Hired
2.8
3.4
3.1
REVENUES/ EXPENSES
Average Annual Compensation Per New Producer
$74,126 $65,329 $69,263
FINANCIAL STABILITY
Where New Producers Were Found
Outside of Industry* 25.8%
Directly from college or graduate school 13.6%
EMPLOYEE OVERVIEW
Another insurance broker 39.6%
PRODUCER INFO
An insurance carrier 17.4%
SERVICE STAFF INFO
*Other industries mentioned most often include Accounting/Finance, Banking, Construction, Medical/Healthcare, and Retail Sales.
TECHNOLOGY
INSURANCE CARRIERS
90
Made with FlippingBook