2004 Best Practices Study

AGENCIES WITH REVENUES BETWEEN $1,250,000 AND $2,500,000

Net Revenue Growth

EXECUTIVE PERSPECTIVES

40%

Average

+25% Profit

20%

PROFILE

+25% Growth

0%

% Total Revenue

REVENUES/ EXPENSES

-20%

Commercial P&C

Personal P&C

Group L&H

P&C Service Fees

Individual L&H

Total Commissions & Fees

FINANCIAL STABILITY

F.

Future Revenue Growth Strategies

Study participants were asked to indicate their three most important strategies for enhancing or achieving future revenue growth.

EMPLOYEE OVERVIEW

% of Total Responses* 1 2 3

Access to Better Carriers

0.0% 0.0% 6.5%

PRODUCER INFO

Advertising/Promotions

0.0% 12.9% 12.9%

Agency/Book of Business Acquisitions

9.7%

19.4% 9.7%

SERVICE STAFF INFO

Cross-Selling/Total Account Development

16.1% 19.4% 25.8%

Producer Recruitment/Development

35.5% 12.9% 9.7%

New Business Initiatives - Prog Dev/Niche Marketing

9.7% 9.7% 9.7%

New Business Initiatives - Referrals/Centers of Influence

22.6% 19.4% 16.1%

TECHNOLOGY

New Business Initiatives - Strategic Alliances

3.2% 9.7% 9.7%

Other

3.2% 0.0% 0.0%

INSURANCE CARRIERS

*With:

1 = Critically Important 2 = Very Important 3 = Important

APPENDIX

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