2016 BPS Study

Brokerage Industry Perspectives How Best Practices agencies are leading the way

Conclusion

Since 1993, the Best Practices Study has provided a benchmarking analysis of the industry’s top performers. The Study’s  purpose has never been simply the identification of benchmarks, however. The real value of the Study has been the  identification of the business practices and methods that propel the top firms to the performance levels they achieve.   These are challenging times for our industry. The slow growth environment, record consolidation, aging workforce and  threats from technology upstarts will all make insurance brokerage a tougher industry in which to thrive over the next  decade. At the same time, there are plenty of reasons to be optimistic about the future of the insurance broker.   If BPS firms have shown us anything over the past 23 years, they have shown they can adapt and lead the way to a  brighter future, regardless of the challenges they face. Our bet is that the Best Practices  firms will continue to thrive, and  will lead the way for others to prosper in the coming decade.

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