Let's start with a jaw dropping statistic. 90% of insurance agents wash out within their first three years. Yes, you read that right - NINETY PERCENT. That leaves only one in ten agents making it in the industry. But at Ross & Yerger, we're proud to say our new Producer retention rate is around 60%. That's a success rate six times higher than the industry average. So, what's our secret?
So, What is Our Secret?
When we, the employees, bought the agency from the Yerger family in 2002, our management team immediately recognized the importance of nurturing new Producers who could eventually become shareholders. This forward-thinking approach led to the creation of the Future Partner Group (FPG) in 2003. Initially led by Greg Maloney, the group received significant investment right from the start. Our training was thorough and well-rounded, focusing on individuals with general sales experience rather than those with insurance sales backgrounds. Plus, with the financial strain from the 2002 acquisition, recruiting top talent from across the region wasn't an option.
A few years later, Greg brought me on board to help manage the daily operations of the burgeoning FPG. That's when we formalized our training programs. Our sales process, Lighthouse, was embedded into the group and has been the cornerstone of Producer growth and client value at Ross & Yerger ever since. The early success of the FPG tripled the number of shareholder Producers, necessitating further investment from the agency. This led to the creation of an overall Sales Leadership role, now led by Scott Moak, a long-time shareholder and Executive VP at Ross & Yerger. Initially, FPG leadership was part of this broader Sales Leadership role, but as the agency grew, it became clear we needed to separate Future Partner Group leadership from existing Producer leadership.
After spending a decade working with contractors on their risk management needs, I returned to lead our Future Partners Group. Today, the resources and financial commitment to this group's growth and development are unparalleled. Our unwavering commitment to strong organic growth has led to increased investment in our Future Partner Group, setting us up for the next 20 years of success and our next 20 new shareholder Producers.
Mark Markow
VP/Producer/Sales & Development Specialist
601-944-9707
Jackson Office
ABOUT ROSS & YERGER
Ross & Yerger – one of the largest independent, privately-held insurance agencies in the Southeast – was established in 1860 and is headquartered in Jackson, MS. The firm has over 170 employees throughout their five offices in Jackson, Tupelo, Hattiesburg, New Orleans, and Memphis. Ross & Yerger is licensed in all 50 states and offers a full range of brokerage services, including insurance, employee benefits, bonds, financial services, and risk management consulting. For more about Ross & Yerger, visit www.rossandyerger.com.
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