2014 Best Practices Study

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

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%

$107,156 $217,036 $923,336 $1,677,304

$77,165

Profitability

New Commissions Produced Annually

$177,653 $612,723 $1,204,505

Employee Overview Producer Info

Total Commissions in Producer’s Book

$10,604 $30,116

$8,511

Average Commissions per Account

Service Staff Info

$18,891

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. 14.5%

Mgmt/Personnel/ Agency Admin. 13.3%

Soliciting New Business 26.7%

Soliciting New Business 30.4%

Personal Training/

Personal Training/

Education/ Prof. Dev. 7.3%

Education/ Prof. Dev. 10.5%

Servicing Existing Accounts 48.4%

Servicing Existing Accounts 49.0%

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 $57,081 per year in new personal lines commissions with an average commission per account of $415 . (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 $5,000,000 and $10,000,000

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