Chicago, IL, July 31, 2018 --(PR.com
)-- The Plexus Groupe has retained its IIABA Best Practices status, once again being included in an elite group of independent insurance agencies across the United States.
This status is earned by participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Best Practices group. The annual survey of leading independent insurance agencies documents the business practices of the “best” agencies and urges others to adopt similar practices.
The Plexus Groupe, a fast growing, progressive insurance brokerage and risk management consultancy serving clients around the globe, has earned this distinction six times since 2009.
Walter R. Fawcett, III, The Plexus Groupe's Founder and Chief Executive Officer, said this designation is important to distinguish the company as a leader in the industry.
“This is something we take seriously and strive for each year,” Fawcett said. “This recognition is the direct result of the efforts of all the associates at The Plexus Groupe.”
Since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, have joined forces to study the country’s leading agencies. The agencies comprising the 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.
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 third 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 qualify in their revenue category based upon revenue growth and profitability, financial stability, expense management, and sales and operations productivity.