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