2020 Best Practices Study

32.0%

23.4%

22.0%

20.6%

20.3%

20.2%

19.6%

18.8%

17.9%

15.9%

14.8%

13.8%

15.5%

13.2%

13.2%

13.2%

13.2%

13.6%

< $1.25M

$1.25M-$2.5M $2.5M-$5.0M $5.0M-$10.0M $10.0M-$25.0M

> $25.0M

2019 BPS Average 2020 BPS Average 2020 BPS Top Quartile

Sales Velocity is an excellent measure of an ag ency’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).

20%

18%

16%

6.0%

14%

3.3%

2.7%

12%

2.8%

3.3%

3.3%

2.5%

10%

5.2%

4.1%

2.2%

3.9%

8%

3.4%

5.1%

6%

4.4%

3.1%

2.4%

4.6%

4.4%

4%

4.4%

2%

4.1%

3.8%

3.3%

2.4%

2.0%

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

 59