Agency growth continues, but problems remain

Article Abstract:

A survey by Academy of Producer Insurance Studies Inc. in the first half of 1996 found that independent insurance agencies are continuing to increase their sales, commissions and pre-tax profits over 1994 levels. The survey also found that 10% of responding agencies had bought or merged with another agency and that only 15.5% are using the Internet. The survey reported that pre-tax profit rose to 6.8% from the 1994 level of 6.13%. Average commissions and compensation also increased.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

Survey shows key role CSRs play in agencies

Article Abstract:

Customer service representatives (CSR) are a significant force insurance agencies' profitability and retention rates. According to a survey by the Academy of Producer Insurance Studies, CSRs have an average employment in an agency of eight years. CSRs feel that contact with customers is the most rewarding part of their job, while they feel the need to learn better time management and stress management skills.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code:

Location top ingredient in a good business mix

Article Abstract:

Independent insurance agency owners, in order to maximize their profits, must maintain an optimal mix of commercial and personal insurance sales. The results of an Academy of Producer Insurance Studies survey indicate that an agency's product mix is determined less by its decisions than by its location and the economic environment in which it operates. Related findings are also discussed.

User Contributions:

Comment about this article or add new information about this topic:

Comment:  (50-4000 characters)

Name:

E-mail:

Security Code: