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