Industry Insights

 

NC Property-Casualty Insurance Marketplace Report

Distributed in January 2021, this report provides a summary of the 2019 p-c insurance marketplace. Unlike most industry watchers of insurer profitability and insolvency, we used direct written premiums - not net written premiums. This is to be consistent with our member agent's view of the insurance world.
 
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COVID-19 Impact on IIANC Member Agencies

In June-July 2020, IIANC surveys its members to find out the impact of COVID-19 on their agency operations, staffing, revenue and more. This information is intended to provide an overview of the current state of independent agencies in North Carolina as well as share insights into their future plans and growth expectations in a post-COVID world.
 
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2019 Best Practices Study

The annual Best Practices Study (BPS) originated in 1993 as an initiative by the Independent Insurance Agents & Brokers of America (or Big I) to help its members build and maintain the value of their most important assets, their agencies. By studying the leading agencies and brokers in the country, the association hoped to provide member agents with meaningful performance benchmarks and business strategies that could be adopted or adapted for use in improving agency performance, thus enhancing agency value. The Big I retained the principals of Reagan Consulting to create and perform the first Best Practices Study. Annual updates are conducted to provide important financial and operational benchmarks and the Study is recognized as one of the most thoughtful, effective and valuable resources ever made available to the industry.
 
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2018 Agency Universe Study

Future One, a collaboration of the Big I and leading independent agency companies, has now released top 10 findings from the 2018 Agency Universe Study. This study is hailed as the most comprehensive of the independent agency system. The study surveys a wealth of issues about independent agencies operating in the U.S. including their numbers, revenue base and sources, number of employees, ownership, mix of business, diversification of products, technology uses, non-insurance income sources, and marketing methods.
 
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