LHD Benefits Advisors Retains Best Practices Status

September 30, 2020by Sydney Perry

LHD Benefit Advisors Included In IIABA’s 2020 Best Practices Study

Indianapolis, Indiana, September 2020–

LHD continues (for the 6th year) to be part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Best Practices Study Group.

The agencies comprising the study group are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. The selected Best Practices agencies retain their status during the three-year study cycle (2019-2022) by submitting extensive financial and operational data for review each year.  During the 2020 Study year, only 262 independent agencies throughout the U.S. qualified and retained their status as a Best Practices agency.

The Best Practices Study was initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual Study of leading independent insurance agencies, which is conducted by the Big “I” and Reagan Consulting of Atlanta, GA, documents the business practices of these “best” agencies and urges others to adopt similar practices.

For nearly 30 years, the Big “I” has developed a family of products and webinars designed to help cultivate a Best Practices agency culture. The offerings include materials such as the Agency Comparison Workbook, Guide to Producer Contracts, the Customer Service Experience Handbook, Sales Potential Quick Check, Interactive Agency Self-Diagnostic Tool, and Best Practices Joint Planning Tool Quick Step.  Many of the publications include guidelines, worksheets, and case studies to help agents apply the information contained in each report and move beyond theory into practice.

In addition to these materials, hundreds of workshops and seminars have been conducted at various producer association functions, company sponsored agency meetings and national automation users group conventions.

The Big “I” and Reagan Consulting jointly maintain the Best Practices Gateway website that provides executive summaries of the annual Best Practices Studies and various Best Practices tools. The Gateway, as well as the annual study, is made possible in part through the financial sponsorship of various insurance companies and industry organizations.

The 2020 Best Practices Study sponsors include:  Amerisure, Applied Systems, Allstate, Beyond Insurance, Central Insurance Companies, Chubb, EMC Insurance, Encompass, Grange Insurance, The Hanover Insurance Group, The Hartford, Imperial PFS, InsurBanc, Integrity Insurance, Liberty Mutual, MetLife, Nationwide, Progressive, Safeco Insurance, Travelers, Vertafore and Westfield.

LHD Benefit Advisors was founded in 2001 and offers a wide range of insurance products including employer health benefits and population health strategies.

 

For more information on the Best Practices Study, contact Jennifer Becker at IIABA, 1-800-221-7917.

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.

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