LHD Benefit Advisors retains its Best Practices status in industry study for the second year in a row
LHD has once again been named a Best Practices Agency by the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”), becoming a part of an elite group of independent insurance agencies around the United States.
“Each year we strive to be a leader in the benefits industry, and this honor is proof that our entire staff’s dedication and hard work is making a difference,” Chief Operations Officer Rick Darragh said.
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 selected Best Practices agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year. This is the second year of the current three-year study cycle, where over 1500 independent agencies throughout the U.S. were nominated to take part in the annual study in 2016, but only 262 agencies qualified for the honor. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.
Since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, have join forces to study the country’s leading agencies in six revenue categories. 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 agency was nominated by either an IIABA affiliated state association or an insurance company and qualified based on its operational excellence.