2013 Best Practices Study

Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000

Key Benchmarks Mgmt. Perspectives Profile Revenues Expenses Profitability Employee Overview Producer Info Service Staff Info Technology Insurance Carriers Appendix

New Producers

Average

+25% Profit

+25% Growth

New Producer Hiring % of Agencies that Hired New Producers Last Year

58.1%

40.0%

50.0%

# of New Producers Hired Last Year

1.7

1.0

1.7

Average Annualized Wages per Producer Hired % of Producers Hired Over Last 5 Years That Met Their Production Goals

$50,219

$37,333

$46,275

54.7%

43.2%

57.3%

Where New Producers Were Found

Outside of Industry (includes all study group responses)

Other Sales ( auto parts, chemical, furniture, radio advertising, medical / pharmaceutical , real estate, retail) Agriculture, Banking, Casinos, Coaching, College Graduates, Construction, Education, Energy, Engineering, Vehicle/ Equipment Rental, Financial Services, Food Services, Golfing and Professional Sports, Government, Healthcare, Hospitality, Human Resources, Information Technology, Legal, Management Consulting, Manufacturing, Non- Profits, Printing, Public Relations, Real Estate, Recruiting, Self-Employed, Shipping, Social Work, Telecommunications, Transportation, Waste Removal

UNDER age 30 from WITHIN the insurance industry OVER age 30 from WITHIN the insurance industry UNDER age 30 from OUTSIDE the insurance industry OVER age 30 from OUTSIDE the insurance industry

Average

+25% Profit

+25% Growth

11.9% 40.5% 14.3% 33.3%

0.0% 50.0% 25.0% 25.0%

0.0% 55.6% 22.2% 22.2%

2013 Best Practices Study

Agencies with Revenues Between $5,000,000 and $10,000,000

“If we can find the right mentor, which is not always easy, we find that we do much, much better in securing a producer for the long haul.”

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