Insurance Business America (IBA) has published its list of 5-Star Brokerages for 2024, highlighting firms that excel in bridging the gap between clients and insurance providers.
The brokerages were noted for their comprehensive advisory services, skilled claims assistance, and proactive risk management strategies.
For 2024, the standout brokerages reported the following average figures:
To qualify for IBA’s 5-Star Brokerages list, firms had to submit detailed business information for 2022 and 2023. This included data on revenue, number of policies written, client counts, and profit margins.
Eligible firms were required to have at least three brokers and a physical office in the US.
The brokerages were assessed across eight key performance indicators:
Data from the 2022 and 2023 calendar years was used for this evaluation. Each brokerage was ranked on these criteria, and their rankings were combined to determine the overall score.
IBA’s scoring method, which resembles a golf scoring system, meant that the brokerages with the lowest combined scores ranked highest. This approach emphasizes performance per broker, allowing smaller, high-performing brokerages to be recognized alongside larger firms.
See the full list of winners this year by reading the IBA 5-Star Brokerages 2024 special report.
