Greenville’s Herlong Bates Burnett Insurance Inc. has retained its status as one of the independent insurance agencies in the United States participating in the Independent Insurance Agents & Brokers of America (IIABA) “Best Practices” Study Group.
Each year, IIABA and Reagan Consulting, an Atlanta-based management-consulting firm, join forces to study the country’s leading agencies in six revenue categories.
The selected “Best Practices” agencies retain their status during a three-year cycle by submitting extensive financial and operational data for review each year.
Last year, which marked the start of a new three-year study cycle, more than 1,100 independent agencies throughout the U.S. were nominated to take part in the annual study, but only 217 agencies qualified. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.
The Best Practices Study was initiated by IIABA in 1993 in an effort to improve agency performance.
