2024 Best Practices Study

Producer Metrics

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Agency Commission Structure:

New Rate: Commercial P&C

43.6% 38.9% 39.5% 36.7% 42.5% 50.0% 32.0% 30.7% 24.7% 40.0% 27.5% 16.7%

45.7% 44.8% 43.6% 45.9% 44.4% 50.4% 34.3% 35.4% 31.3% 37.0% 37.7% 29.6%

41.4% 40.8% 39.9% 42.8% 44.8% 51.7% 30.8% 31.3% 29.6% 33.4% 34.7% 31.8%

42.3% 42.2% 40.6% 45.2% 44.7% 47.6% 31.3% 31.9% 25.9% 33.5% 32.9% 28.7%

42.0% 40.0% 41.0% 39.7% 40.5% 45.9% 30.0% 30.3% 28.4% 30.5% 29.9% 27.5% $3,460 $3,161 $3,629 $3,592 $3,592 $2,917

38.8% 37.3% 37.8% 38.5% 38.0% 42.5% 29.7% 32.0% 24.8% 29.7% 29.6% 29.3% $5,610 $4,054 $2,989 $5,290 $5,133 $5,346

Bonds/Surety Personal P&C Group Medical

Other Group L/H/F Individual L/H/F Renewal Rate: Commercial P&C

Bonds/Surety Personal P&C Group Medical

Other Group L/H/F Individual L/H/F

Minimum Threshold (minimum account size on which commissions are paid) :

Commercial P&C Bonds/Surety Personal P&C Group Medical Other Group L/H/F Individual L/H/F

$1,453

$2,125

$1,825 $1,251 $1,000 $1,001

$1,816 $1,327

$23

N/A

$203

$550

$625

$4

N/A N/A N/A

$2,778 $2,643

$505 $520

$509 $626

$500

Additional Benefits Paid (% of agencies providing this benefit to producers):

Travel and Entertainment

36.8% 42.1% 15.8%

48.3% 55.2% 31.0%

83.3% 88.9% 36.1%

82.4% 80.4% 33.3%

79.2% 93.8% 50.0%

70.8% 83.3% 58.3%

Health Benefits

Automobile

Validated Producer Metrics

WAPA: Weighted Average Producer Age

51.4

51.1

50.7

50.5

50.4

50.4

50.3

49.4

49.4

49.4

49.1

49.1

48.5

48.4

48.3

48.2

48.1

46.2

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

2022 BPS 2023 BPS 2024 BPS

Cross Category Comparison

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