Benchmarking your agency
Managing an agency is a 24-7 job. As a business owner, it is essential to take a step back on a regular basis, monitor the agency's performance, and benchmark that performance with other agencies of similar size and profile. To help member agencies see where they stand, various publications are available. One of the best resources is the Best Practices Study published by IIABA and Reagan Consulting annually.
Other industry publications that can provide data include: The Producer Profile, The CSR Profile and The Growth and Performance Standards by the National Alliance Research Academy, and in some case MarshBerry's Counterpoint.
Best Practices Agencies
Agencies can also submit their data to determine whether they qualify for a Best Practice Agency. In Pennsylvania and Delaware, the following agencies have acquired that distinction:
- Bellevue Insurance Services, Wilmington
- Engle-Hambright & Davies (EHD), Lancaster
- Gannon Associates, Towanda
- Gunn-Mowery, Camp Hill
- Miller’s Insurance Agency, Downingtown
- Paul Sprowls Agency, Uniontown
- Rossbacher Insurance Group, Corry
- William A Graham Company d/b/a The Graham Company, Philadelphia