VAST keeps Best Practices status
MARQUETTE — VAST retains its Best Practices status, once again becoming a part of an elite group of independent insurance agencies around the United States. This status comes by participating in the Independent Insurance Agents Brokers of America Best Practices Study group. The annual survey and study of leading independent insurance agencies documents the business practices of the “best” agencies and urges others to adopt similar practices.
Since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, have joined forces to study the country’s leading 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 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 second year of the current three-year study cycle, where over 1,500 independent agencies throughout the U.S. were nominated to take part in the annual study in 2016, but only 262 agencies qualified. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of the six revenue categories.
VAST was founded in 1885 and is a leader in business, personal, and benefits insurance needs. VAST partners with its clients to provide protection and security through strategic thinking and risk management solutions.