2013 Best Practices Study
Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000
Revenue by Specialty/Niche
Key Benchmarks Mgmt. Perspectives Profile Revenues Expenses Profitability Employee Overview Producer Info Service Staff Info Technology Insurance Carriers Appendix
Average
+25% Profit
+25% Growth
% of Agencies having an Industry and/or Product Specialty/Niche Total INDUSTRY Specialty/Niche Revenues as % of Agency Net Revenue Total PRODUCT Specialty/Niche Revenues as % of Agency Net Revenue
72.7%
87.5%
87.5%
26.0%
27.8%
24.3%
14.3%
7.3%
16.7%
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 INDUSTRY Specialties Real Estate
$1,986,721 $3,557,258 $1,901,442 $1,157,365 $1,393,444
30.3% 24.2% 24.2% 21.2% 18.2%
Construction Manufacturing
Non-Profits Healthcare
Other industry specialties included A&E, agriculture, banking, business services, credit unions, education, energy, entertainment, estate services, franchise programs, government, hardware/lumber/building materials, hospitality, jewelers, legal firms, schools (private, charter and independent), public school districts, public entities, municipalities, snack & food delivery, specialty products, staffing, technology, telecommunications, towing and recovery, transportation, and wholesalers.
Average Revenue per Specialty
% of Agencies Having Specialty
Top 5 PRODUCT Specialties Workers Compensation
$900,057 $1,029,724 $821,825 $656,728
51.5% 39.4% 36.4% 21.2%
Commercial Property
Professional & Management Liability
Surety/Bonds
N/A
*
*
*Insufficient Data
Other product specialties included captives,environmental, political risk, group medical/life, commercial package, financial property, umbrella, fees, BOP, crime, boiler & machinery, farm & agriculture, Milliman, Planit, loss control, TPA, data analytics and related consulting for wellness, general liability, commercial package, commercial auto, and HRIS / Eservices.
2013 Best Practices Study
Agencies with Revenues Between $10,000,000 and $25,000,000
138
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