Southgroup continues Best Practices status

SouthGroup Insurance Services has retained its Best Practices status, once again becoming a part of an elite group of independent insurance agencies around the United States. 

This status comes by participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Best Practices Study group. 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.

Since 1993, the Big “I” and Reagan Consulting, an Atlanta-based management consulting firm, have joined forces to study the country’s leading agencies in six revenue categories. The agencies comprising the study groups are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. 

The agency was nominated by either an IIABA affiliated state association or an insurance company and qualified based on its operational excellence.

The selected Best Practices agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year. This is the third year of the current three-year Study cycle (2019-2021), where over 1,000 independent agencies throughout the U.S. were nominated to take part in the annual Study in 2019, but only 262 agencies qualified for the honor. 

To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.  

“It is an honor to be recognized by our peers as being among the best at what we do,” says Davy Hunt, Southaven, managing principal.

SouthGroup is a 19-year old agency with a 125-year history.  A merger of 12 of Mississippi’s oldest and most respected agencies created SouthGroup in 2002 and its origins date back to 1896. Today, SouthGroup has 22 offices across Mississippi to serve its clients. 

SouthGroup is a Trusted Choice® independent agency, and offers risk management services as well as insurance products from a number of major insurance companies. 

Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a variety of insurance companies.

DeSoto County News Service

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