What is a Best Practices Agency?
A Best Practices Agency is one of an elite group of 195 independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America’s (Big “I”) Best Practices Study Group
Each year the Big “I” and Reagan Consulting, an Atlanta-based management consulting firm, join forces to study the country’s leading agencies in six revenue categories. The agencies comprising the study groups are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. The selected “Best Practices” agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year.
Participation in the Best Practices Study has become a prestigious recognition of the superior accomplishments of the top insurance agencies within the independent insurance agency system.
Founded in 1896, IIABA is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.
Reagan Consulting is a financial and management consulting firm specializing in services to the insurance distribution system. Clients include the leading brokers, agents and bank-insurance programs in the United States. They provide thought leadership to the banking and insurance industries through perennial research, seminars, and other industry forums.