2014 Best Practices Study

Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000

Key Benchmarks

Most Successful Producer Productivity

Profile

Revenues

Most Successful Producer Productivity

Commercial P&C

Group L&H $35,266 $87,090 $310,728 $700,460

Expenses

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

$90,605

Profitability

New Commissions Produced Annually

$160,303 $655,680 $1,051,779

Employee Overview Producer Info

Total Commissions in Producer’s Book

$5,711

$5,405

Average Commissions per Account

Service Staff Info

$14,282

$12,506

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. 11.4%

Mgmt/Personnel/ Agency Admin. 18.2%

Soliciting New Business 26.2%

Soliciting New Business 28.6%

Personal Training/

Personal Training/

Education/ Prof. Dev. 8.3%

Education/ Prof. Dev. 6.4%

Servicing Existing Accounts 56.0%

Servicing Existing Accounts 44.9%

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 $55,543 per year in new personal lines commissions with an average commission per account of $405 . (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 $2,500,000 and $5,000,000

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