2005 Best Practices Study
AGENCIES WITH REVENUES UNDER $500,000
INSURANCE CARRIERS
2005
A.
Number of P&C Carriers Represented
+25% Profit
+25% Growth
Average
Personal Lines National
3.3
2.6
3.2
PROFILE
Regional
3.5
3.4
2.8
Commercial Lines National
3.0
1.6
1.6
REVENUES/ EXPENSES
Regional
2.8
2.2
1.6
B.
Number of Group Employee Benefits Carriers Represented
+25% Profit
+25% Growth
Average
FINANCIAL STABILITY
Average Total GEB Carriers
4.5
6.4
7.7
Average Number by Product GL&H
2.1
3.0
3.0
LTD
1.5
1.3
2.0
EMPLOYEE OVERVIEW
Dental
1.1
1.0
1.0
Retirement
3.2
4.0
1.7
C.
Commission Income Derived from Top Carriers
+25% Profit
+25% Growth
PRODUCER INFO
Average
% of Net Revenue from Top P&C Carrier
38.7% 31.9% 24.8%
% of Net Revenue from Top 3 P&C Carriers
63.7% 60.9% 58.9%
SERVICE STAFF INFO
% of Net Revenue from Top GL&H Carrier
3.8% 3.2% 7.2%
% of Net Revenue from Top 3 GL&H Carriers
5.4% 5.8% 7.5%
TECHNOLOGY
D.
Carrier Service Center Use
+25% Profit
+25% Growth
Average
% of Agency’s Personal Lines Commissions Placed in Service Centers % of Agency’s Commercial Lines Commissions Placed in Service Centers
INSURANCE CARRIERS
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