One of the keys to success for an insurance agency is tracking producers’ performance and how much each new account costs to land. Whether you’re growing or in an operational rut, tracking sales metrics can help you understand if you are spending money in the right places to support your agency’s growth and that you…
When most commercial insurance brokerages are in early growth stage, they are focused on putting together a solid team of producers to grow their book of business at a fast, yet manageable pace. Many agencies continue on this path of maximizing their writings, but that can lead to customer neglect and missed opportunities to…
If your insurance agency is not taking full advantage of LinkedIn to make connections and market your insurance brokerage, you are missing out on a great opportunity to grow your book of business. LinkedIn, as you likely already know, is the social media equivalent of Facebook for the business world and is a great tool…
For insurance agency owners considering a sale or looking to expand through acquisition, understanding the importance of post-merger integration is essential. While closing the deal is a major milestone, the integration of systems, staff, cultures and operations will determine whether the merger or acquisition is an unbridled success or falls short of expectations. Integration is…
In a challenging and evolving hard insurance marketplace, one metric stands out as a true indicator of sustainable growth: sales velocity. While many consider organic growth the bellwether for agency performance, sales velocity goes deeper, revealing how effectively an agency is bringing in new business regardless of market cycles. For brokerage owners, mastering this metric…
The insurance industry has always demanded resilience, but today’s hard market is testing independent agencies like never before. Skyrocketing premiums, tighter underwriting and relentless sales pressures are creating a high-stress environment — and it’s taking a toll on agency staff, according to a new report. One of the biggest challenges independent insurance agencies face is…
As 2025 gets off to a rocky start with volatility in the business climate, insurance brokerages have to be nimble and forward-thinking to be successful and continue growing. The pandemic had already forced most companies, including insurance agencies, to re-evaluate how they do business, and if the last few years have taught us anything, it’s…
Insurance agencies move significant amounts of funds through their accounts, particularly when they keep premium deposits in trust accounts before transferring them to insurers. Like any business that has significant cash flow, it’s vitally important for insurance brokerages to have their operations buttoned up tightly to protect against financial fraud. This is especially so due…
Rising costs, commission reductions and economic pressures can make it challenging for insurance agencies to maintain profitability. However, keeping profits the same from year to year can be a losing strategy due to inflation, meaning that agencies must also focus on growing their book of business. The key is to cut costs strategically without disrupting…
One of the keys to ensuring the longevity of your insurance agency is having your finances in order and ensuring that you are generating a profit. That’s easier said than done as often the commission checks roll in sporadically during the year, or all at once after peak renewal seasons. Besides the obvious issue of…