2023 BPS Study

Producer Metrics

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Agency Commission Structure:

New Rate: Commercial P&C

39.0%

46.1%

42.3%

42.8%

41.8%

39.1%

Bonds/Surety

37.4%

45.9%

41.1%

42.9%

39.4%

38.0%

Personal P&C

41.2%

42.7%

39.9%

40.8%

39.9%

38.4%

Group Medical

40.7%

46.8%

43.2%

44.9%

40.4%

39.1%

Other Group L/H/F

40.5%

45.9%

44.9%

44.5%

41.2%

38.7%

Individual L/H/F

50.3%

50.6%

53.3%

49.3%

45.3%

43.1%

Renewal Rate: Commercial P&C

29.6%

33.0%

31.7%

30.3%

29.5%

29.5%

Bonds/Surety

31.0%

33.4%

32.3%

30.8%

29.8%

33.3%

Personal P&C

22.2%

30.2%

29.6%

25.2%

25.6%

24.4%

Group Medical

29.0%

36.5%

33.3%

33.7%

30.6%

29.6%

Other Group L/H/F

31.8%

36.9%

33.9%

33.6%

29.9%

30.3%

Individual L/H/F

22.5%

31.5%

31.5%

27.1%

27.6%

28.6%

Minimum Threshold (minimum account size on which commissions are paid) :

Commercial P&C

$113

$1,563

$1,600

$3,200

$3,400

$4,775

Bonds/Surety

$113

$500

$1,163

$2,907

$3,313

$3,923

Personal P&C

$113

$500

$774

$520

$2,889

$2,886

Group Medical

$500

$1,120

$1,769

$4,000

$5,056

Other Group L/H/F

$500

$775

$1,500

$3,469

$4,960

Individual L/H/F

$1,000

$500

$775

$1,125

$3,182

$4,214

Additional Benefits Paid (% of agencies providing this benefit to producers):

Travel and Entertainment

36.4%

41.9%

76.7%

73.2%

77.8%

80.9%

Health Benefits

54.5%

54.8%

95.3%

87.5%

90.7%

83.0%

Automobile

27.3%

22.6%

34.9%

41.1%

46.3%

46.8%

Validated Producer Metrics

WAPA: Weighted Average Producer Age

51.1

50.8

50.4

50.4

50.4

50.3

50.2

49.4

49.4

49.3

49.1

48.7

48.5

48.4

48.2

48.1

48.0

46.2

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

2021 BPS 2022 BPS 2023 BPS

Cross Category Comparison

63