2015 Best Practices Study

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

Key Benchmarks Profile

Most Successful Producer Productivity

Revenues Expenses Profitability Employee Overview Producer Info Service Staff Info Technology Insurance Carriers Appendix

Most Successful Producer Productivity

Commercial P&C

Group L&H $181,086 $353,766 $1,000,574 $1,861,915

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

$173,677 $311,382 $1,513,679 $2,350,478

New Commissions Produced Annually

Total Commissions in Producer’s Book

$15,639 $39,232

$17,466 $37,496

Average Commissions per Account

How Most Successful Producers Spent Time

Most Successful Commercial P&C Producer

Most Successful Group L&H Producer

Mgmt/Personnel/ Agency Admin. 16.2%

Mgmt/Personnel/ Agency Admin. 14.6%

Soliciting New Business 32.3%

Soliciting New Business 29.5%

Personal Training/

Personal Training/

Education/ Prof. Dev. 7.6%

Education/ Prof. Dev. 8.0%

Servicing Existing Accounts 43.5%

Servicing Existing Accounts 48.3%

Personal Lines Producers, whose main responsibility is to solicit and write new personal lines accounts and who are 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 $57,250 per year in new personal lines commissions with an average commission per account of $1,124 . (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.)

2015 Best Practices Study

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

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Note: See page 163 for an explanation of column headings