The KPIs That Drive Growth for Independent Insurance Agencies

For independent insurance agencies, growth isn’t just about selling more. It’s about understanding how your agency is performing across key areas and using that data to make smarter business decisions. Key Performance Indicators (KPIs) are essential for tracking progress, identifying opportunities, and staying aligned with both short-term goals and long-term vision.

Below are some of the most important KPIs to monitor, along with a recommended cadence, to help agency owners and producers stay focused, accountable, and on track.

Daily Reports: Operational Efficiency

Daily reporting is your frontline defense for ensuring smooth operations. These KPIs focus on whether core processes are being completed consistently:

• Task Completion: Are items being resolved in your agency management system?
• Download Activity: Are new policies, endorsements, and other carrier downloads being processed?
• Non-Pay Cancellations: Are missed payments being flagged and followed up on appropriately?
• Prospecting Activity: Are daily outreach efforts being logged, and are prospects moving through the pipeline?

Staying on top of these indicators each day helps prevent backlogs, errors, and missed sales opportunities.

Weekly Reports: Sales Performance

Weekly reporting keeps your team aligned and competitive:

• New Business Bound: Track new policies by producer to gauge individual and team progress.
• Pipeline Progression: Are prospects moving forward, or are they getting stuck?

This regular snapshot helps managers identify coaching opportunities and producers stay motivated to hit their goals.

Monthly Reports: Strategic Visibility

Monthly KPIs offer a broader look at agency performance and identify areas where processes can be improved:

• Renewals (90 Days Out): Proactively preparing for renewals improves retention and allows time for account reviews.
• Post-Renewal Follow-Up: Confirm what renewed, what didn’t, and why.
• Claims Activity: Monitor frequency, severity, and patterns in claims.
• Cross-Sell Opportunities: Identify clients with potential for additional coverage.
• Lost Business Outreach: Reach out to former clients whose policies may be coming up for renewal again.

Monthly reporting is ideal for course-correcting early and planning team initiatives around retention, upselling, or remarketing.

Quarterly & Annual Reports: Long-Term Health

Quarterly and annual KPIs help assess your agency’s broader performance and carrier relationships:

• Carrier Production & Loss Ratios: Track performance against requirements for maintaining codes and qualifying for profit-sharing.
• Book of Business Mix: Evaluate your personal, commercial, life, and health lines to understand where your growth is coming from and where to focus next.
• Policy Count vs. Premium Growth: Determine if growth is driven by new accounts, increased coverage, or market rate changes.
• Goal Alignment: Are you on track to hit production, retention, and diversification goals?

These reports are especially valuable for strategic planning and identifying where to invest your time and resources in the coming quarter or year.

Best Practices for Staying Consistent

• Use Your AMS: Most of these KPIs can be pulled directly from your agency management system. If you’re unsure how, schedule a tutorial or training session.
• Delegate Wisely: Assign daily and weekly reports to CSRs or account managers where appropriate, and audit periodically.
• Automate Reminders: Set calendar or AMS tasks to review less frequent reports so they don’t fall through the cracks.

Tracking KPIs consistently doesn’t just help you manage the business. It empowers you to grow it. Whether you're a solo producer or leading a team, developing a regular reporting rhythm ensures your agency stays proactive, not reactive.

If you're not sure where to start or need help creating a reporting structure that fits your goals, Chicagoland SIA is here to help. Together, we can turn your data into direction.