Numbers DON'T Lie: 8 Numbers Every Insurance Agency Leader Should Track

Ready to take your insurance agency to new heights?

Your answer should be YES!

This edition is about revealing the insider secrets that will skyrocket your success. These 8 numbers might seem simple, but they hold the power to unlock profitability. Embrace them, and watch your agency achieve or exceed its goals.

1- Annual agency revenue: This is the money your agency actually earns and puts in the bank. It’s the lifeblood of your business.

If you know this number, you can measure growth, set realistic revenue goals and plan where you will invest to fuel your next growth strategy. This will ensure your agency is going in the direction you want.

2- Annual agency premium: Your team often thinks in terms of premiums, not revenue.

Premiums help you set production goals. Knowing your total premium in every way helps you figure out where you’re headed and how much business your team needs to generate to reach those targets.

3- Number of in force clients: The number of active clients you have is your marketplace leverage

Knowing this is crucial for keeping track of your customer growth and identifying opportunities to grow by selling more to the clients who already trust you. REALLY IMPORTANT ACTION.

4- Number of in force policies: The number of policies can be a gauge in many ways.

If the average number of policies per client is lower (like 1.50 or less), it means you’re missing opportunities to offer more and better to every single client. Coverage, easy of doing business for the client and so much more.

More policies per client = more revenue, better retention and stronger client relationships.

5- Retention percentage: Retention is about keeping your clients. A high retention rate means your clients are happy, and you’re doing great at creating and nurturing deep, significant meaningful relationships.

It’s much easier and less expensive to keep good, current clients than to find new ones, so retention is key to long-term wealth and success.

6- Number of annual referrals: Referrals, or introductions, are gold, the easiest money you will ever make (after account rounding) If your clients aren’t referring you to others, find out why? Are you not asking or is there another reason? You’re leaving money on the table.

Happy, satisfied clients are your best salespeople, so track referrals and make sure you’re serving people with excellence, at the highest level always.

7- Number of full-time and part-time employees: You need to know...always

Your team should match the needs of your business. Too few, and you’re stretched thin; too many, and you could be overstaffed and not maximizing opportunity

Balance is key.

8- Percentage of business (commercial, personal, life, health): It’s important to know the breakdown of your business.

Are you focusing too much on one area?

Diversifying your business across different lines (like commercial, personal, life, or health insurance) helps spread risk and stabilize income.

Tracking and knowing these KPIs consistently helps you stay in control of your business, make smarter decisions, and ensure your agency is growing and thriving.

You want to be the kind of entrepreneur who knows these numbers like the back of your hand—that’s how you become unstoppable!

Mike Stromsoe

Ready to collaborate, grow and learn with the best agents in North America? Join us at our private, invitation only mastermind event in Phoenix, AZ, Nov 8th and 9th..... here is the link with all of the details: https://grandmm.mikestromsoe.com/

Are you ready for an agency growth session? Let's talk: https://go.scheduleyou.in/LByQrrKnu7