Best Practices agencies continue excellent organic growth and profitability, according to the 2024 update of the Best Practices Study by the Big “I" and Reagan Consulting, now available on IIABA website. The Best Practices Study analyzes takeaways from nominated Best Practices firms throughout the nation that have been recognized for outstanding management and financial achievement in categories such as income and expense distribution; revenue and profitability growth; sales and service staff compensation and productivity; technology expenses; and property & casualty and life-health carrier representation.
We are excited to share the 2024 Best Practices Study and hope agencies will find it an invaluable resource in leading their agency toward its fullest potential. The study is available through the IIABA website: www.independentagent.com/best-practices.
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.
IIAV congratulates the following Best Practice Agencies:
Independent Insurance Agents of Virginia