SouthGroup Insurance & Financial Services was recently listed as a Best Practices Agency by the Independent Insurance Agents & Brokers of America. This distinction makes SouthGroup part of an elite group of independent insurance agencies around the United States.
Each year since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, join forces to study the country’s leading insurance 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 selected agencies retain their Best Practices status during the three-year cycle by submitting extensive financial and operational data for review each year.
“We are honored to be part of this esteemed group of insurance professionals,” said Brad Kent, president of SouthGroup of Laurel. “The Big I Best Practices designation is the premiere recognition for top performers in our industry and serves as validation for the investment we have made in our company.”
More than 1,300 independent agencies throughout the U.S. were nominated to take part in the annual study, but only 267 qualified for the honor. To be chosen, the agency had to be among the top-performing agencies in one of the six revenue categories. SouthGroup was nominated by either a Big “I” affiliated state association or an insurance company and qualified based on its operational excellence.
The Best Practices Study was initiated by the “Big“I” in 1993 as the foundation for efforts to improve agency performance. The annual survey and study of leading independent insurance agencies documents the business practices of the highest performing agencies and urges others to adopt similar practices.
SouthGroup is a 17-year-old agency with a 125-year history. The group of Mississippi’s leading agencies that merged to form SouthGroup in 2002 date back as early as 1894. SouthGroup of Laurel is located at 409 Central Ave., in historic downtown Laurel. It recently celebrated its own 100th anniversary. The agency provides insurance and risk management services to businesses and individuals.
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. For more information, go to www.independentagent.com.