The value of most businesses is predicated upon that business’ ability to “control” its clients and accounts. For insurance agencies, the business’ value assumes that the agency “owns” the accounts. The definition of who “owns” the accounts is a very …
Compensation for an agency is always the largest expense category. For the typical agency, total compensation (producer and employee compensation plus benefits and taxes) ranges from 50 percent to 75 percent of total revenue. If the compensation is too high, …
Compensation for any agency is always the largest expense category. For the typical agency, total compensation (producer and employee compensation plus benefits and taxes) ranges from 50 percent to 75 percent of total revenue. If the compensation is too high, …
As insurance professionals, agency owners understand that everyone faces risks and that one way of limiting losses when a loss occurs is to have insurance. Likewise, when an individual owns a business, there needs to be some contingency plan put …
Today there is constant attention by those asking agency owners to think about selling or merging with them, so the owner can pursue his or her hopes, dreams and yes … retirement. We know because our clients keep telling us …
Agency value and price-what sellers can expect to put in their pocket Today there is constant attention by those asking agency owners to think about selling or merging with them, so the owner can pursue his or her hopes, dreams …
This coming 2006 New Year seems like it will be the start of a year of big changes for the industry. It is not that the industry will be pulled out by its roots and shaken. Rather, many of the …
Agencies that establish an effective centralized marketing department as part of an overall strategic plan will experience a significant competitive edge over their competitors who do not have such a department. This is because a centralized marketing department streamlines operations, …
Agencies that establish an effective centralized marketing department as part of an overall strategic plan will experience a significant competitive edge over their competitors who do not have such a department. This is because a centralized marketing department streamlines operations, …
For most firms, the insurance consumer will not see any major value difference between agencies. Because products, price and service are roughly the same, sales people are forced to sell on rapport, relationships and sales skills. Most consumers buy on …
