As the insurance industry diversifies and changes, mergers and acquisitions (M&As) have become a strategic avenue for growth and expansion. However, the path to a successful M&A transaction is fraught with complexities and potential pitfalls. To minimize such dangers, insurance…
Read more >
KPIs, or key performance indicators, are objective performance measures that companies can track over time. They are valuable to all industries because they establish benchmarks, provide targets for teams to aim toward, and provide important insights to enhance decision-making across…
Read more >
The insurance industry, with its robust growth and enduring relevance, offers a fertile ground for entrepreneurs looking to establish a successful service business. As new risks emerge — from political upheaval to cybersecurity and fraud — business insurance is more…
Read more >
Agencies face myriad challenges, from navigating complex partnerships and acquisitions to evaluating potential investments. Amid the complexities that such situations bring, due diligence reports offer clarity — but what is a due diligence report, and when is it required? Due…
Read more >
Launching a business involves a great deal of decision-making, and insurance agencies are no different. One of the most critical is settling on the right business structure for the company. Should the company be a partnership, a sole proprietorship, a…
Read more >
Profit margins in the insurance industry are notoriously low. According to statistics, many agencies operate with just 2% to 3% profit margins. Of course, insurance agents know that this is just one part of the picture regarding the value of their agency.…
Read more >
As insurance agencies strive for longevity and unwavering success, the significance of succession planning becomes increasingly evident. This strategic process safeguards the essence of an agency's mission and vision, even when key members transition away from their roles. To navigate…
Read more >
The insurance industry is highly competitive, and insurance agencies constantly strive to gain and maintain the upper hand. For an insurance agency that wants to consistently outperform the competition, staying innovative and forward-thinking is crucial. Here is some easy-to-follow advice on how…
Read more >
Working with an insurance consulting firm can offer agencies several notable advantages. Constructive input from experienced professionals can help them manage their operations affordably and efficiently while planning agency development initiatives. Here are some things that agents should keep in mind when…
Read more >
Mergers are essential for a thriving insurance company to extend its operations and grow an established book of business. The merger process is complex and deserves careful attention to ensure that any decisions being made ultimately benefit your agency. Below…
Read more >