In a challenging and evolving hard insurance marketplace, one metric stands out as a true indicator of sustainable growth: sales velocity. While many consider organic growth the bellwether for agency performance, sales velocity goes deeper, revealing how effectively an agency is bringing in new business regardless of market cycles. For brokerage owners, mastering this metric…
The insurance industry has always demanded resilience, but today’s hard market is testing independent agencies like never before. Skyrocketing premiums, tighter underwriting and relentless sales pressures are creating a high-stress environment — and it’s taking a toll on agency staff, according to a new report. One of the biggest challenges independent insurance agencies face is…
As 2025 gets off to a rocky start with volatility in the business climate, insurance brokerages have to be nimble and forward-thinking to be successful and continue growing. The pandemic had already forced most companies, including insurance agencies, to re-evaluate how they do business, and if the last few years have taught us anything, it’s…
Insurance agencies move significant amounts of funds through their accounts, particularly when they keep premium deposits in trust accounts before transferring them to insurers. Like any business that has significant cash flow, it’s vitally important for insurance brokerages to have their operations buttoned up tightly to protect against financial fraud. This is especially so due…
Rising costs, commission reductions and economic pressures can make it challenging for insurance agencies to maintain profitability. However, keeping profits the same from year to year can be a losing strategy due to inflation, meaning that agencies must also focus on growing their book of business. The key is to cut costs strategically without disrupting…
One of the keys to ensuring the longevity of your insurance agency is having your finances in order and ensuring that you are generating a profit. That’s easier said than done as often the commission checks roll in sporadically during the year, or all at once after peak renewal seasons. Besides the obvious issue of…