2013 Best Practices Study

Analysis of Agencies with Revenues Under $1,250,000

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

Most Successful Producer Productivity

Most Successful Producer Productivity

Commercial P&C

Group L&H

Average Top 25% Average Top 25% Average Top 25%

$38,038 $69,153 $327,469 $609,333

$29,547

New Commissions Produced Annually

*

$47,180

Total Commissions in Producer’s Book

*

$4,912

$1,802 $4,800

Average Commissions per Account

$15,918

*Insufficient Data

How Most Successful Producers Spent Time

Most Successful P&C Producer

Most Successful L&H Producer

Mgmt/Personnel/ Agency Admin. 22.9%

Mgmt/Personnel/ Agency Admin. 22.7%

Soliciting New Business 26.0%

Soliciting New Business 41.7%

Personal Training/

Personal Training/

Education/ Prof. Dev. 4.0%

Education/ Prof. Dev. 6.3%

Servicing Existing Accounts 44.8%

Servicing Existing Accounts 31.7%

Personal Lines Producers, someone whose main responsibility is to solicit and write new personal lines accounts and is not responsible for the day-to-day servicing of the business, can be very productive. On average the most successful Personal Lines producer in this revenue category generated $51,519 per year in new personal lines commissions with an average commission per account of $690 . (Typically, the total commissions in the producer’s book are not tracked since they are not paid renewal commission. Most often, the producers receive a base salary plus new business commissions.)

2013 Best Practices Study

Agencies with Revenues Under $1,250,000

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