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Agency News

THOMPSON INSURANCE, INC. INCLUDED IN IIABA’S

BEST PRACTICES STUDY GROUP

            Montgomery, Alabama, September 11, 2009 --  Thompson Insurance, Inc. has  been selected for the 15^th straight 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) “Best Practices” Study Group.

            Only 195 independent agencies throughout the U.S., thirty in each of six revenue categories and fifteen in a seventh category for mega-sized agencies, qualify for inclusion in the Best Practices Study.  An IIABA affiliated state association or an insurance company must first nominate the agency which then must qualify based on outstanding customer services, growth, stability and financial management.

            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 for IIABA by Reagan Consulting of Atlanta, GA, documents the business practices of these “best” agencies and urges others to adopt similar practices.

To assist agencies in adopting Best Practices, IIABA has developed a family of products, services and workshops known as the Best Practices Implementation Series.  The series includes materials such as the Agency Self-Diagnostic Tool, Agency/Company Joint Planning Tool Quick Stop, Customer Service Made Simple, Five Practices of Effective Leaders handbook, and Top Producers: Discover, Train, Reward.  Additional studies and tools include the Best Practices of Leading Sales Organizations, Best Practices for Business Perpetuation and Management Succession, and The Practical Agency Planner.  The publications include guidelines, worksheets, and case studies to help agents apply the information contained in each report.

            In addition to the written 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 IIABA and Reagan Consulting jointly maintain the Best Practices Gateway website (http://bp.reaganconsulting.com) that provides executive summaries of the annual Best Practices Studies, the Best Practices Quick Check interactive comparison tool, and samples from the various Best Practices tools.  The Gateway is made possible in part through the financial support of various insurance companies.

            Thompson Insurance, Inc. was founded in 1964 and offers a wide range of insurance products including commercial property & casualty insurance, personal lines and life insurance.  For more information on the Best Practices Study, contact Jennifer Becker at IIABA, 1-800-221-7917.

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.  Independent agents and brokers offer all lines of insurance - property, casualty, life and health - as well as employee benefit plans and retirement products.  Web address:  www.independentagent.com.