RiskPoint Insurance Advisors continues for the 6th year to be part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Best Practices Study Group.
The selected Best Practices agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year. This is the third year of the current three-year study cycle, where over 1000 independent agencies throughout the U.S. were nominated to take part in the annual study in 2019, but only 262 agencies qualified for the honor. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.
The Best Practices Study was initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual Study of leading independent insurance agencies, which is conducted by the Big “I” and Reagan Consulting of Atlanta, GA, documents the business practices of these “best” agencies and urges others to adopt similar practices.
For nearly 30 years, the Big “I” has developed a family of products and webinars designed to help cultivate a Best Practices agency culture. The offerings include materials such as the Agency Comparison Workbook, Guide to Producer Contracts, the Customer Service Experience Handbook, Sales Potential Quick Check, Interactive Agency Self-Diagnostic Tool, and Best Practices Joint Planning Tool Quick Step. Many of the publications include guidelines, worksheets, and case studies to help agents apply the information contained in each report and move beyond theory into practice.
In addition to these materials, hundreds of workshops and seminars have been conducted at various producer association functions, company sponsored agency meetings and national automation users group conventions.
The Big “I” and Reagan Consulting jointly maintain the Best Practices Gateway website (www.reaganconsulting.com/research/best-practices) that provides previews of the annual Best Practices Studies and various Best Practices tools. The Gateway, as well as the annual Study, is made possible in part through the financial sponsorship of various insurance companies and industry organizations.
The 2021 Best Practices Study sponsors include: Amerisure, Applied, Allstate/Encompass/NatGen Premier/National General Insurance, Central Insurance, Chubb, EMC Insurance, The Hanover Insurance Group, The Hartford, Imperial PFS, InsurBanc, Liberty Mutual/Safeco Insurance, Foremost, Nationwide, Progressive, Travelers, Vertafore and Westfield.
RiskPoint Insurance Advisors was founded in 2009 and offers a wide range of insurance products including employee benefit programs.
For more information on the Best Practices Study, contact Jennifer Becker at the Big “I”, 1-800-221-7917.
Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a variety of insurance companies.