Best Practices for Growing an Insurance Agency | My Station

Best Practices for Growing an Insurance Agency

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www.agencybrokerage.com

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

Agency Brokerage Consultants is a merger and acquisition advisory firm to the insurance brokerage industry: www.agencybrokerage.com (company website with details on our services and transaction history) and www.agencybrokerage.net (company blog with articles on managing, valuing, buying and selling independent insurance agencies).