2016 BPS Study
Cross Category Comparison Detailed Data for All Revenue Categories
SALES VELOCITY
AGENCIES WITH REVENUES OF:
<$1.25M $1.25‐$2.5M $2.5‐$5M $5‐$10M $10‐$25M >$25M
Sales Velocity: Average Top Quartile
13.2% 20.3%
15.4% 25.9%
14.0% 24.7%
15.5% 25.3%
15.0% 23.6%
15.3% 23.0%
Age Banding of Sales Velocity: Up to age 35
3.8% 3.0% 3.1% 3.3%
1.7% 3.3% 6.9% 3.4%
2.7% 4.5% 3.9% 2.9%
3.2% 4.8% 4.6% 2.8%
3.3% 4.0% 4.7% 2.9%
2.6% 3.6% 5.8% 3.3%
Age 36‐45 Age 46‐55
Over age 55
Sales Velocity
25.9%
25.3%
24.7%
23.6%
23.0%
20.3%
15.5%
15.4%
15.3%
15.0%
14.0%
13.2%
< $1.25M $1.25M‐$2.5M $2.5M‐$5.0M $5.0M‐$10.0M $10.0M‐$25.0M > $25.0M
Average Top Quartile
Sales Velocity is an excellent measure of an agency’s success in writing new business. It is calculated by dividing new commission and fee income written by prior year commission and fee income. The Age Banding of Sales Velocity takes it a step further by showing Sales Velocity contributions by different producer age groupings (35 and under, 36‐45, 46‐55, over 55).
Age Banding of Sales Velocity
20%
15%
2.8%
3.3%
3.4%
2.9%
2.9%
3.0% 3.1% 3.3%
4.6%
10%
4.7%
3.9%
5.8%
6.9%
4.8%
4.0%
5%
4.5%
2.6% 3.6%
1.7% 3.3%
3.8%
3.3%
3.2%
2.7%
0%
<$1.25M $1.25‐$2.5M $2.5‐$5M
$5‐$10M $10‐$25M
>$25M
Up to age 35 Age 36‐45 Age 46‐55 Over age 55
60
Made with FlippingBook - Online catalogs