Best Practices Study Puts Spotlight On Top Agencies

Seven top independent agencies were singled out for recognition as the "Top Performing Agency" for each of the seven revenue categories in the "2005 Best Practices Study," released last week by the Independent Insurance Agents & Brokers of America and Reagan Consulting.

The "Top Performers" included:

o Carroll Insurance, Maumee, Ohio.

o Treutel Insurance Agency, Bay St. Louis, Miss.

o Akers & Arney Insurance Associates, Branson, Mo.

o Spain Agency, Mahopac, N.Y.

o Austin & Compnay, Albany, N.Y.

o SKCG Group Inc., White Plains, N.Y.

o R.C. Knox and Company, Hartford, Conn.

Factors ranked for performance included client retention and services, employee productivity, financial results, and overall management achievement.

Nine insurance companies, one bank and one industry vendor provide financial support for the research and development of the study--Applied Systems, Central Insurance Companies, Chubb, Citizens & Hanover Insurance, InsurBanc, Main Street America Group, MetLife, Ohio Casualty, Safeco, St. Paul Travelers, and Zurich North America.

"Best Practices" agencies are selected every three years through a comprehensive nomination and qualification process, and must submit detailed financial and operational data for review each year to retain their status.

Although more than 900 independent agencies and brokers of varying sizes across the country were nominated to take part in last year's selection process, only 195 agencies--the top 30 in each of six revenue groups, and 15 in a seventh category for mega-sized agencies--qualified for inclusion in the study.

The agencies were nominated by either an IIABA-affiliated state association or an insurance company, and qualified based on their customer service, growth, stability and financial management.

For further information, contact Madelyn Flannagan of IIABA at 800-221-7917 (madelyn.flannagan@iiaba.net) or Shirley Lukens of Reagan Consulting at 404-233-5545.

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Best Practices Study Puts Spotlight On Top Agencies

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