Best Practices for Growing an Independent Insurance Agency

This presentation discusses some best practices for growing (and managing) an independent insurance agency based on our interaction with agencies around the country as a valuation and merger and acquisition advisor. If you have any questions, or would like a copy of the slides, please call our office at (321) 255-1309.

The presentation covers four areas:

1. Managing an insurance agency’s finances — Dealing with cash management, budgeting and maximizing profitability.
2. Keeping the business that you have — Dealing with retention, customer service and staffing.
3. Growing your agency organically — Dealing with marketing plans, marketing strategies and niche marketing (specialization).
4. Acquiring another agency — Dealing with the benefits, challenges and risk of acquiring agencies or books of business.

No single section is meant to be all-inclusive but simply touch on the areas and provide ideas to put to practice in your own business. The moderator for the presentation is Michael Mensch, a partner with Agency Brokerage Consultants