Perhaps you’re an insurance agency owner who’s looking to move on to a new venture or a different career. If you have an insurance book of business for sale, you’ve probably wondered about the value of its current state. Thankfully, several factors or signs, that you can control, can be used to determine if your book of business is valuable or otherwise.   

signing contract Insurance Book of Business for Sale

How To Know if You Have a Valuable Insurance Book of Business

Your Data Is Well-Organized 

Housing your data in paper files or spreadsheets will make it difficult for them to readily respond to a client who has questions about their account. For this reason, it’s best to use an agency management system that clearly ties related records together and allows you to use keywords to search for information.   

Well-organized data is a great selling point. When everything is extremely organized, the potential buyer won’t have a hard time picking up your book of business as they start working with it. 

Your Contact Records are Up-to-Date

Your diligence in keeping your contact records constantly evolving and up-to-date will pay off. Keep in mind that a contact’s record, whether it’s a group or an individual client, should never be static. You’ll always have something new to add each time you speak with your clients.  

Obtaining your client’s address, phone number, email, and family information, and attached records of all contact made with them is important. However, taking it a step further by including lead source data, aggregate carrier information, lead forms, and agent E&O licenses will make a huge difference when the next person picks up the client’s record. 

Your Client Retention Rate Is High

Did you know that the average client retention rate for insurance companies is about 84%? A potential buyer will find your book of business more appealing if your retention rate is 90% to 95%.  

handshake Insurance Book of Business for Sale

Is Your Insurance Book of Business for Sale?

At Energia Consulting Partners LLC, our team of professionals can help you maximize the value of your book of business. Contact us today to learn more about what we can do for you.