Peabody Insurance Retains its Best Practices Status

Thursday September 03, 2020

PEABODY INSURANCE AGENCY 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 (IIABA or the Big “I”) 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, the Big “I” and Reagan Consulting, an Atlanta-based management consulting firm, have join 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 1,000 independent agencies throughout the U.S. were nominated to take part in the annual study in 2019, but only 262 agencies qualified for the honor. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.

“Our specialty is in helping clients identify the types of risk they are facing and what areas of operation are most exposed to risk through our unique four-step system, the Risk Reduction Process. We are now able to identify exposures and implement strategies which provide our clients a way to lower their total cost of risk while protecting their balance sheets,” says Jim Peabody, Peabody Insurance Agency, president and CEO. “by reducing risk, clients may be able to lower their premiums and thereby increase profitability.”

The Peabody Insurance agency was founded in 1919 and can offer insurance products from a number of different companies.

For further information, please contact Grace Peabody of Peabody Insurance Agency at (810) 908-1869.

Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a variety of insurance companies.

Peabody Insurance Agency is a full service independent insurance agency with a 100 year legacy of servicing our community and the surrounding area.

By partnering with our clients, we discover your unique needs and goals, then we construct an insurance program tailored specifically to you. By proactively assessing each of our clients as individuals we are able to ensure your costs stay low, and your coverage properly fits your needs. Business, Home, Auto, Life, Workers Compensation, Bonds