2024 Best Practices
Study Update.
Six Revenue Categories, Study Highlights, Executive Summaries & Key Benchmarks,
Cross Category Comparison, and Over 3,000 Data Points.
2024 Best Practices Study Update.
The annual Best Practices Study (BPS) originated in 1993 as an initiative by the Independent Insurance Agents & Brokers of America (or Big “I”) to help its members build and maintain the value of their most important assets, their agencies. By studying the leading agencies and brokers in the country, the information provides member agents with meaningful performance benchmarks and business strategies that can be adopted or adapted for use in improving agency performance, thus enhancing agency value. Over 31 years later this work continues in partnership with Reagan Consulting providing important financial and operational benchmarks and the Study is recognized as one of the most thoughtful, effective and valuable resources made available to the industry.
2024 report delivered via email.
2022, 2023, 2024 reports delivered via email.
Compare your results to Best Practices Agencies.
Includes.
Introduction, Overview & Summary
Sections Explained
Analysis of Agencies. Key Metrics by Agency Revenue Category
Between $1.25M and $2.5M in revenue
Between $2.5M and $5.0M in revenue
Between $5.0M and $10.0M in revenue
Between $10.0M and $25.0M in revenue
Over $25.0M in revenue
Cross Category Comparison
Revenue Overview
Acquisitions
Account Stratification
Revenue Growth
Revenue Growth by Line of Business
Sales Velocity
Pro Forma Expenses
Profitability
Rule of 20
Technology
Productivity
Staffing
Average Book Serviced
Average New Commissions
New Producer Hiring & More
Glossary
Learn how your agency can be part of the process.
A new group of Best Practices agencies will be approved in the Summer of 2025 and will retain their status for a 3-year cycle.
