Reaching the halfway point of the year is a valuable opportunity for agency owners to pause, assess performance, and realign goals. A mid-year agency check-in provides clarity on where your business stands and helps ensure that you finish the year strong. By reviewing key performance metrics now, you can identify opportunities for growth, address areas of concern, and make informed decisions for the months ahead.
How to Access Mid-Year Numbers
Member Agencies of SIAA have several ways to access the reports and data you need to evaluate your agency’s performance:
- Carrier Sites – Reports can be accessed through the carrier portals. Please note that generally only the agency principal or owner has direct access to these reports.
- June Benchmarks – Download June reports to create a clear mid-year benchmark.
- Company Representatives – Representatives can provide the reports if additional support is needed.
- Agency Growth Coach – Our Agency Growth Coach is a resource dedicated to assist with locating and understanding the necessary data.
- SIAA Connect Agency Dashboard – Within the “Reports and Payments” tab, agencies have access to a dashboard that provides insights into Income (Commissions), SPC New Business Growth, Overall Premium Volume, and more.
- Member Dashboards in SIAA Connect – This tool provides additional agency information, including the Member Journey Storyboards showing premium growth, commission history, and PMSF payments over the past 6 years.
- The Insurance Connection Power BI Reports – Comprehensive dashboards compiling carrier reports are also available through our customized Power BI program. These will be shared and reviewed with members to ensure easy access and understanding.
Key Performance Metrics
Agencies should pay close attention to:
- New Business Written Premium
- Loss Ratios (ideally within the mid-50s range)
- Net Written Premium (should remain positive)
- Retention (with a focus on the number of policies retained, not just premium dollars)
When the Numbers Aren’t Where You Want Them
If your mid-year results are not as strong as anticipated, it’s important not to panic. Every agency experience challenges from time-to-time, and the key is to be proactive in addressing these challenges. This is where members of The Insurance Connection benefit from the support of our Agency Growth Coach and Book Management Team.
- Our team will advocate on your behalf and work with you to identify practical solutions.
- Together, we can analyze the data, strengthen retention, improve loss ratios, and uncover growth opportunities to set your agency back on track.
A mid-year check-in is not just a numbers exercise, it’s a chance to take control of your agency’s direction, adjust strategies, and build momentum for the remainder of the year.