2015 Best Practices Study

Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000

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 $47,592 $92,266 $195,475 $393,689

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

$63,112

New Commissions Produced Annually

$112,719 $477,597 $874,400

Total Commissions in Producer’s Book

$3,476 $7,785

$2,720 $7,567

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. 8.0%

Mgmt/Personnel/ Agency Admin. 26.3%

Soliciting New Business 43.0%

Soliciting New Business 25.9%

Personal Training/

Personal Training/

Education/ Prof. Dev. 9.2%

Education/ Prof. Dev. 9.0%

Servicing Existing Accounts 40.0%

Servicing Existing Accounts 38.6%

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 $28,512 per year in new personal lines commissions with an average commission per account of $901 . (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 $1,250,000 and $2,500,000

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Note: See page 163 for an explanation of column headings