Agency Valuation&Perpetuation

​By: Colby AllenGoing through the process of buying an agency can require a high amount of effort in a stable market, so trying to make an offer now can change how you perform due diligence. Many agencies are trying to manage threats to their operations such as client retention, staff retention, and even carrier retention.Although these risks are a normal part of evaluating the agency many agency owners are struggling to manage one, if not multiple, of these important factors of their business. This article will dive into each of these risk factors in more detail while also providing some questions you should consider when…

By: Colby AllenAs an insurance agency owner, managing risks within your book of business is crucial for ensuring long-term success and profitability. With so many places facing hard markets, it's essential to adopt strategies that safeguard your top and bottom lines while providing excellent service to your clients. In this article, we will explore three key areas that can help you effectively manage risks and actualize your agency's potential.Aligning with Multiple Partner Carriers Can Help De-Risk Your Top and Bottom LinesOne of the most effective ways to manage risks within your book of business is by aligning with multiple partner carriers. When it comes to…

 By: Carey WallaceThere are several key benchmarks that independent insurance agencies use to measure their success. They include retention rate, sales velocity, profitability, and revenue per employee – just to name a few.In many cases, the historic metrics for each of these benchmarks are being redefined by agencies that are thinking differently about how the work within each role inside an agency is accomplished. Those that are able to rethink “the way we have always done it" at the task level are finding ways to drive efficiency, unlock capacity, and drive up the profitability inside their agency.The core metric that measures efficiency is revenue per employee,…