2010 Best Practices Study
Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000
Mgmt. Perspectives
New Producers
Profile
Revenues
Average
+25% Profit
+25% Growth
New Producer Hiring % of Agencies that Hired New Producers Last Year
Expenses
32.6%
*
45.5%
Profitability
# of New Producers Hired Last Year
1.2
*
1.0
Employee Overview
Average Annualized Wages per Producer Hired
$43,825
*
$44,000
*Insufficient Data
Producer Info
Staff Service Info
Where New Producers Were Found
Technology
Outside of Industry (includes all study group responses) Other Sales ( advertising, agriculture, automobiles, franchises, manufacturing, office furniture/equipment, payroll/HR services, pharmaceuticals, real estate, telecommunications, temporary staffing ) Construction Education Financial Services ( accounting firm, banking, Healthcare Hospitality Information Technology Law Enforcement Lobbyist Management Consulting Military Non-Profits mortgage company, financial planning ) Delivery Services
Insurance Carriers
Appendix
“Successful” New Producers:
72.9% of producers hired over the last 5 years have met their production goals
2010 Best Practices Study
“Our plan is to find local people that know the business we want to insure, and train them in insurance.”
Agencies with Revenues Between $1,250,000 and $2,500,000
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