Every year since 1993, the IIABA has teamed with Reagan Consulting, an Atlanta-based management-consulting firm, to evaluate the business practices of the country’s leading insurance brokerage agencies falling within six revenue categories. The agencies comprising the study groups are selected through a comprehensive nomination and qualifying process before being awarded the IIABA “Best Practices” agency designation. The designated “Best Practices” agencies retain their status during a three-year cycle by submitting extensive financial and operational data for review each year.
“A primary goal of our company these past 20 years has been to perform at a higher level than other agencies, as measured by our clients, insurance company partners and competitors,”
Cavignac & Associates has been an IIABA “Best Practices” agency since 2007. Founded in1992, the firm is focused on identifying and managing exposures to loss in order to lower its clients’ total cost of risk and, thus, drive dollars to their bottom lines.
“To be a ‘Best Practices’ agency, you must have above-average organic growth and customer retention,” added Cavignac. “Our staff understands it’s only by being customer-focused and excellence-driven that this can be achieved. We’re proud to have earned this designation for the sixth straight year, and even prouder of our great team of employees who have enabled us to obtain it.”
This year concludes the current three-year study cycle in which more than 1,200 independent agencies throughout the U.S. were nominated to participate. Only 224 agencies qualified for the honor. To be chosen, the agency had to be among the 35-40 top-performing agencies in one of six revenue categories, including under $1,250,000, $1,250,000 to $2,500,000, $2,500,000 to $5,000,000, $5,000,000 to $10,000,000, $10,000,000 to $25,000,000, and over $25,000,000. Each agency was nominated by either an IIABA affiliated state association or an insurance company, then qualified based on its operational excellence.
The “Best Practices” study was initiated by IIABA 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. The agencies are nominated by either an IIABA-affiliated state association or an insurance company, then qualified based on their 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. More information is at www.independentagents.com.
About Cavignac & Associates:
Founded in 1992, Cavignac & Associates is a leading risk management and commercial insurance brokerage firm providing a broad range of insurance and expertise to design and construction firms, as well as to law firms, real estate-related entities, manufacturing companies and the general business community. Company principals are Jeffrey W. Cavignac, CPCU, ARM, RPLU, CRIS, James P. Schabarum II, CPCU, AFSB, CWCA, Scott A. Bedingfield, CIC, AAI, CWCA, and Patrick Casinelli, RHU. The firm employs a staff of 40 at offices located at 450 B Street, Suite 1800, San Diego, Calif. 92101. More information about the company can be found on the Web at www.cavignac.com.