2006 Best Practices Study

AGENCIES WITH REVENUES BETWEEN $2,500,000 AND $5,000,000

PRODUCER INFORMATION

2006

A.

New Producer Hiring

+25% Profit

+25% Growth

Average

% of Agencies that Hired a New Producer During Last Fiscal Year

PROFILE

54.8% 37.5% 50.0%

Number of New Producers Hired

1.4

1.0

1.5

REVENUES/ EXPENSES

Average Annual Compensation Per New Producer

$56,688 $48,000 $73,050

FINANCIAL STABILITY

Where New Producers Were Found

Another insurance broker 54.9%

Directly from college or graduate school 0.0%

EMPLOYEE OVERVIEW

Outside of Industry* 24.5%

PRODUCER INFO

An insurance carrier 20.6%

SERVICE STAFF INFO

*Other industries mentioned most often include Medical/Pharmaceutical, Payroll Services, Advertising, Construction/Engineering, Banking/Financial Services, and Legal

TECHNOLOGY

INSURANCE CARRIERS

2006 Best Practices Study

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