M3 Retains IIABA Best Practices Agency Status in 2015
M3 Insurance is one of only 217 insurance agencies from across the country to be named a 2015 Best Practices Agency. More than 1,100 agencies were nominated.
Requirements for being named a Best Practices Agency include nomination by either an Independent Insurance Agents & Brokers of America (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 35-45 top-performing agencies in one of six revenue categories to be chosen.
Each year since 1993, IIABA and Reagan Consulting, Inc., Atlanta, join forces to conduct the Best Practices 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. The 2015 Best Practices Study Update completes the 2013-2015 cycle.
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.independentagents.com.