Insurance Business America ranks producers to find the industry’s top performers
WELCOME TO Insurance Business America’s inaugural Top 10 Producers special report. After seeking out, receiving and vetting nominations from producers across the country, our research has identified the industry pros worthy of inclusion in the top 10.
But when it comes to deciding who gets the top spot, it’s not just about the biggest gross written premium. Our unique “handicap” methodology means we place producers in markets both large and small on a level playing field to find the country’s best performers.
Think your name belongs on the list? Make sure you enter your name for consideration in next year’s rankings! We appreciate the effort of the producers who put themselves forward through this year’s process, and we hope readers enjoy the insight provided by our top honorees.
The methodology
The Insurance Business America ranking system is an objective way of ranking the best-performing producers. Each nominated producer was required to provide his or her own details to IBA in order to be eligible.
There were six criteria:
• Total revenue (2014)
• Revenue growth (2014 vs. 2013, as a percentage of total revenue)
• Revenue from new policies written in 2014 (as a percentage of total revenue)
• New policies in 2014 (as a percentage of total policies)
• New clients per broker in 2014 (as a percentage of total clients)
• Total number of clients
Each producer was ranked by each of these criteria, and the sums of their rankings were added together. The producers were then ordered according to who had the lowest overall score. (Think of it like a golf score – higher total rankings add up to a lower overall score.) In the event of a tie in overall score, the producer with the highest total sales volume was given preference.
By ensuring that the majority of the criteria rewarded producers based on a percentage of their total business – rather than just critical mass – the very best producers were rewarded, rather than those who are simply fortunate enough to work in a large market.
