Unique ID: 3a0999ad-a854-4eda-95d6-399a1f4f0c12
Schaumburg, IL (October 7, 2013) - Assurance, an independent insurance brokerage with offices near Chicago and St. Louis, retained its status as part of an elite group of independent insurance agencies participating in the Independent Insurance Agents & Brokers of America (IIABA) Best Practices Study Group. The Best Practices Study was initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual survey and study of leading independent insurance agencies documents the business practices of what are considered to be the best agencies and urges others to adopt similar practices.
Each year since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, join forces to study the country's leading agencies in six revenue categories. The agencies comprising the study groups are selected every third year through a comprehensive nomination and qualifying process and awarded a Best Practices Agency designation. The selected Best Practices agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year.
More than 1,100 independent agencies throughout the U.S. were nominated to take part in the annual study, but only 216 agencies qualified for the honor. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories. Insurance agencies are nominated by either an IIABA affiliated state association or an insurance company and qualified based on operational excellence.
Founded in 1896, IIABA is the nation's oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance – property, casualty, life and health – as well as employee benefit plans and retirement products.