For the fifth consecutive year, leading San Diego risk management and insurance brokerage firm Cavignac & Associates has been selected by the Independent Insurance Agents & Brokers of America (IIABA) as part of its elite “Best Practices” study group, comprised of independent insurance agencies across the United States.
Every year since 1993, the IIABA has teamed up with Reagan Consulting, an Atlanta-based management-consulting firm, to evaluate the business practices of the country’s leading insurance brokerage agencies within six revenue categories. The agencies comprising the study groups are selected through a comprehensive nomination and qualifying process before being awarded the IIABA “Best Practices” agency designation. The designated “Best Practices” agencies retain their status during a three-year cycle by submitting extensive financial and operational data for review each year.
“Our goal has always been to perform at a superior level, as measured by our clients, insurance company partners and competition,” said Jeffrey W. Cavignac, CPCU, ARM, RPLU, CRIS, president and principal of Cavignac & Associates. “The IIABA ‘Best Practices’ agency study has been an excellent tool to measure how we are doing. The single reason we’ve been able achieve such high metrics is because we have exceptional people working for us.”
Cavignac & Associates has been an IIABA “Best Practices” agency since 2007. Founded in1992, the firm is focused on identifying and managing exposures to loss in order to lower its clients’ total cost of risk and, thus, drive dollars to their bottom lines.
Added Cavignac,“To be a ‘Best Practices’ agency, you must have above-average organic growth and customer retention. Our staff understands that it is only by being customer-focused and excellence-driven that this can be achieved. I’m very proud to have received this award for the fifth straight year, but I’m even prouder of the group of people I work with who make it possible.”
More than 1,200 independent agencies throughout the United States were nominated to take part in IIABA’s annual study, but only 224 agencies qualified for the honor. To be selected, an agency must be among the country’s 35-40 top-performing agencies in one of six revenue categories, including under $1,250, 000; $1,250, 000 to $2,500, 000; $2,500, 000 to $5,000, 000; $5,000, 000 to $10,000, 000; $10,000, 000 to $25,000, 000; and over $25,000, 000.
The “Best Practices” study was initiated by IIABA as the foundation for efforts to improve agency performance. 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. The agencies are nominated by either an IIABA-affiliated state association or an insurance company, then qualified based on their operational excellence.
Founded in 1896, IIABA (independentagents.com) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance – property, casualty, life and health – as well as employee benefit plans and retirement products.
About Cavignac & Associates
Founded in 1992, Cavignac & Associates (cavignac.com) is a leading risk management and commercial insurance brokerage firm providing a broad range of insurance and expertise to design and construction firms, as well as to law firms, real estate-related entities, manufacturing companies and the general business community. Company principals are Jeffrey W. Cavignac, CPCU, ARM, RPLU, CRIS, James P. Schabarum II, CPCU, AFSB, CWCA, Scott A. Bedingfield, CIC, AAI, CWCA, and Patrick Casinelli, RHU. The firm employs a staff of 38 at offices located at 450 B Street, Suite 1800, San Diego, Calif. 92101.