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Benchmarks of success
As key intermediaries between clients and insurance carriers, the best brokerages facilitate the purchase of products while providing crucial advisory services, expert claims assistance, and proactive risk management solutions.
Insurance Business America’s 5-Star Brokerages of 2024 have achieved remarkable milestones, with their average figures totaling:
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$92 million in revenue from new policies
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22 percent revenue growth
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11,000+ new clients
Industry expert Adam Frugoli, vice president at Leavitt Group and recognized as one of IBA’s Top Insurance Brokers 2023, says the best insurance brokerages excel by cultivating a unified culture of success.
“It’s about clearly communicating where the organization is going and making sure you have those goals ready, and everyone is accountable,” Frugoli says.
To identify the top brokerages of the year, participants submitted detailed data on crucial business metrics such as revenue, client numbers, and profit margins.
Revenue growth
“The only way that you can possibly continue to compete is through revenue growth. It’s like oxygen,” shares Frugoli.
This year’s best insurance brokerages experienced a significant increase in average total revenue from p