Search
 

Profitability is an Inside Job

Calculate the costs of processing to increase growth, and learn the hidden impact of processing on your bottom line

By Dan Epstein | Updated on January 31, 2013
If you are seeking to build the profitability of your agency or brokerage, you may already be missing your biggest opportunity for 2013. It isn’t an issue of sales or strategy or training, or renewals or taxes or systems. Rather, it comes of a long-held industry culture of looking outward for growth. 

Most management teams underestimate the profits and growth that can come from within their own operations. For those who see the potential, there’s a competitive advantage and profit aplenty to harvest.

For many agency principals, increasing organic growth and profitability requires hiring more producers, deepening relationships with insurers and pumping up sales performance. Where organic growth is anemic, there’s always the option of acquiring a book of business or other agencies. Though these activities all have an important time and place, they are often pursued to the neglect of far less costly and far more efficient means of delivering profitable growth. 

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.