2014 Best Practices Study

Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000

Key Benchmarks

Most Successful Producer Productivity

Profile

Revenues

Most Successful Producer Productivity

Commercial P&C

Group L&H

Expenses

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

$161,413 $271,376 $1,571,993 $2,492,641

$159,788 $316,076 $924,043 $1,825,342

Profitability

New Commissions Produced Annually

Employee Overview Producer Info

Total Commissions in Producer’s Book

$15,333 $35,791

$17,419 $40,116

Average Commissions per Account

Service Staff Info

Technology

Insurance Carriers

How Most Successful Producers Spent Time

Appendix

Most Successful Commercial P&C Producer

Most Successful L&H Producer

Mgmt/Personnel/ Agency Admin. 13.8%

Mgmt/Personnel/ Agency Admin. 14.1%

Soliciting New Business 36.6%

Soliciting New Business 32.5%

Personal Training/

Personal Training/

Education/ Prof. Dev. 7.8%

Education/ Prof. Dev. 9.5%

Servicing Existing Accounts 40.2%

Servicing Existing Accounts 45.7%

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 $62,505 per year in new personal lines commissions with an average commission per account of $1,084 . (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.)

2014 Best Practices Study

Agencies with Revenues Between $10,000,000 and $25,000,000

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