2005 Best Practices Study
AGENCIES WITH REVENUES OVER $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
93.3% 100.0% 100.0%
Number of New Producers Hired
5.8
4.5
4.3
REVENUES/ EXPENSES
Average Annual Compensation Per New Producer
$80,646 $78,750 $86,165
FINANCIAL STABILITY
Where New Producers Were Found
Outside of Industry* 18.2%
Directly from college or graduate school 16.1%
EMPLOYEE OVERVIEW
Another insurance broker 45.8%
PRODUCER INFO
An insurance carrier 19.9%
SERVICE STAFF INFO
*Other industries mentioned most often include Accounting/Finance, Banking, Construction, Medical/Healthcare, and Retail Sales.
TECHNOLOGY
INSURANCE CARRIERS
106
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