Davidson & Associates Insurance of Vancouver has been selected to be part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) “Best Practices” Study Group.
Only 254 independent agencies throughout the U.S. qualified for inclusion in the 2016 Best Practices Study. An IIABA affiliated state association or an insurance company must first nominate the agency which then must qualify based on outstanding customer retention, growth, stability and financial management. More than 1,800 agencies were nominated this year.
“We are extremely pleased to be designated again as a Best Practices Agency,” says Bruce Davidson, President and CEO of Davidson & Associates Insurance. “The IIABA sets very high standards for this award and we are honored to be chosen.”
The Best Practices Study was initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual study of leading independent insurance agencies, which is conducted for IIABA by Reagan Consulting of Atlanta, Ga., documents the business practices of these high performance agencies and urges others to adopt similar practices.
About the 2016 Best Practices Study and the Independent Insurance Agents & Brokers of America (IIABA)
The IIABA and Reagan Consulting jointly maintain the Best Practices Gateway website (http://www.reaganconsulting.com/research/best-practices/) that provides executive summaries of the annual Best Practices Studies, the Best Practices Study Comparison Workbook tool and ordering information for Best Practices products. The Gateway, as well as the annual study, is made possible in part through the financial sponsorship of various insurance companies and industry organizations.
The 2016 Best Practices Study sponsors include: Agency Business Solutions and Amerisure Insurance, Applied Systems, Beyond Insurance, Central Insurance Companies, Chubb, CNA, EMC Insurance, ENCOMPASS, The Hanover Insurance Group, The Hartford, Imperial PFS, InsurBanc, Kemper, Liberty Mutual, MetLife, The Main Street America Group, Nationwide, Travelers, Vertafore and Westfield Insurance.
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.
The agency was nominated by either an IIABA affiliated state association or an insurance company and qualified based on its operational excellence.
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 the “best” agencies and urges others to adopt similar practices.
Founded in 1896, Independent Insurance Agents & Brokers of America (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. Web address: www.independentagents.com.