The following article was derived from a presentation at the Independent Insurance Agents & Brokers of America's National Legislative Conference and Convention, held in April in Washington, D.C.)
Last year, while speaking to a group of insurance company employees about “best practices” data, I had a “Eureka!” moment. Realizing that the information also is a gold mine for agency owners and mangers, I set out to create a treasure map to help others find the mother lode and mine its data.
For the statistics, I turned to the Independent Insurance Agents & Brokers of America's The Best Practices of the Leading Independent Insurance Agencies in the United States. The report, first released in 1993 and often called simply “Best Practices,” is updated annually and widely recognized as a reliable source of financial and operational benchmarks for independent insurance agencies.
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