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owners
Articles tagged with owners
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AGENCY PRODUCTIVITY LEVELS CONTINUE TO IMPROVE by Carol Hammes Despite the ongoing soft market in Commercial lines, the average insurance agency continues to show improvement in productivity lev...
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AGENCY VALUE: NO SIMPLE ANSWERS by Al Diamond How much is your agency worth? That depends on a number of factors. Whats my agency worth? Were asked tha...
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AS GOES AGENCY GROWTH, SO GOES VALUE by Chris Burand Growth is a key factor in an agency's value. Chris Burand explains why poor or erratic growth is a risky investme...
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ASPECTS OF PERPETUATION MANAGEMENT by Catherine Oak and Bill Schoeffler Most agency owners do not have a structured plan to perpetuate their lifetime's work-the firm. It wo...
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BLUNDERERS BANK BIG BUCKS, TOO by Chris Burand Whats this? Adopt 'Worst Practices' to increase earnings? Say it aint so! Yet this document by Chris Burand is full of exa...
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BUSINESS COMBINATIONS: SURVIVING/THRIVING WITH A MERGER by Carol Hammes These guidelines will help you meet the challenges of merging your agency. Most industr...
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CAN'T WE ALL JUST GET ALONG? by Al Diamond Conflict Resolution in Insurance Agencies You tell your clients and your carriers that your agency staff is not just professional and expert in the...
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A soft insurance market is often used as an excuse for ignoring certain issues. Why bother figuring out whether to retain risk or transfer it to...
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CHANGE IS A CERTAINTY by Al Diamond Attempting to maintain the same old business practices in a changing environment is as futile as trying to sit stationary in a rising tide. As ind...
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Ten years ago it took $5 million in total agency revenues and about $30 million in Property/Casualty premiums to land on the top 100 agency list. Now an agency needs to have in excess of $10 million in revenues and $60 million in premiums to make the cut. Ten years ago the average independent agency in the country had $250,000 in total revenues with six to seven people. Today the average is close to $600,000 in revenues, also with six to seven people. To use a phrase from Bob Dylan, "the times, they are a changing."