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In August 2022 WinStar Insurance Group was selected as a Best Practices Agency.
Our team qualified for this status by ranking among the top performers in the annual Best Practices Study conducted by the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) and Reagan Consulting.
The purpose of the Best Practices Study is to compile the operating statistics of the country’s leading agents and brokers. To achieve this objective, the agencies included in the annual Study must first be nominated for participation by an insurance carrier or an IIABA state affiliated association. The agency must then submit detailed financial and operational information which is analyzed, scored, and ranked objectively for inclusion in the study, based on operational excellence, including growth, profitability, productivity and financial stability.
Over 2,600 agencies from around the country were nominated in six revenue categories ranging from “Under $1.25 million” in annual revenue to “Over $25 million” in annual revenues. Only 282 agencies scored high enough to qualify for inclusion.
To retain our Best Practices Agency status, we must submit our year-end results for review each year. Every third year, when new agency nominations are accepted, we must re-qualify as one of the top performers in our revenue category. (IF APPLICABLE: We are pleased to have retained our Best Practices Agency status since YYYY.)
Participation in the Best Practices Study has become a prestigious recognition of the superior accomplishments of the top insurance agencies in each of the six revenue size categories studied. Our inclusion with these 282 outstanding agents and brokers clearly recognizes us as an industry leader.
The 2022 Best Practices Study sponsors include: Amerisure, Applied, Central Insurance, EMC Insurance, First Insurance Funding, Foremost, A Farmers Insurance Company, The Hanover Insurance Group, The Hartford, Imperial PFS, InsurBanc, Liberty Mutual/Safeco Insurance, National General, an Allstate Company, Nationwide, Progressive, Sun Life, Travelers, Vertafore, Westfield, and Westfield Bank.
Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a variety of insurance companies.
Reagan Consulting is a financial and management consulting firm specializing in services to the insurance distribution system. Clients include the leading brokers, agents and bank-insurance programs in the United States. They provide thought leadership to the banking and insurance industries through perennial research, seminars, and other industry forums.