M3 Retains IIABA Best Practices Agency Status in 2017
M3 Insurance is one of only 241 insurance agencies from across the country to be named a 2017 Best Practices Agency by Independent Insurance Agents & Brokers of America (IIABA). More than 1,800 agencies were nominated. M3 has retained this honor annually since 1998.
The annual Best Practices report compiles benchmarking data on the key metrics of agency performance and value. Requirements for being named a Best Practices Agency include nomination by either an IIABA affiliated state association or an insurance company, and qualification based on outstanding customer retention, growth, stability, and financial management. Nominated agencies have to be among the top-performing agencies in one of six revenue categories to be chosen. Learn more about What Makes a Best Practices Agency.
The Best Practices Study was initiated by IIABA in 1993 as a foundation for their efforts in improving agency performance. Each year since, IIABA has joined forces with Reagan Consulting, Inc., Atlanta, to conduct the study with the purpose of documenting the business practices of “best” agencies and urging others to adopt similar practices. The agencies comprising the study groups are selected every third year. The selected Best Practices agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year.
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. Learn more: www.independentagent.com.
M3 Insurance offers insight, advice and strategies to help clients manage risk, purchase insurance and provide employee benefits. We are committed to being experts in both the products we represent and the industries we serve. Our people advance M3’s competitive advantage in the marketplace, and our focus on community builds better places to live and work. M3 is consistently ranked a top 100 broker in America.