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The IIABNY Industry Index

The Independent Insurance Agents & Brokers of New York (IIABNY) Industry Index: The IIABNY Industry Index program is a semi-annual survey completed by independent agents to evaluate insurance companies and their relations with independent agents. The first IIABNY Industry Index was conducted in 2007. Independent insurance agents use the study to rate their carriers and make comparisons. The insurance companies use the IIABNY Index to study their own performance and make improvements.

The IIABNY Industry Index uses a scientifically designed model to create the index scores of carrier performance. The VMI research team studied index methodologies from other institutions and designed a system that would reflect the concerns and priorities of independent agents and fairly evaluate services provided to agents and their customers. VMI used a type of multivariate analysis to develop the Index model. Only critical and representative areas for reliably evaluating carriers are included in the model to make certain the study is easy to execute on a regular basis.

Only agency principals’ or leaders’ evaluations of carriers are included in the Index results. Much more than a simply tally of survey results, the IIABNY Index results are published semi-annually in the summer and winter in the following reports:

• The IIANBY Index Executive Summary Report – Includes the industry scores segmented by line of business. This report is made available to IIABNY members, other respondents to the study, carriers and the public through media press releases.
• The Carrier’s Individual IIABNY Index Report – Includes the carrier’s individual performance index and component scores. This report is available to respondents to the study and may be purchased by each of the individual carriers. IIABNY does not share detailed reports with competitors.
• The IIABNY Index Ranking Report – Includes the carrier index scores for the carriers that are rated and lists all carriers showing their rankings. This report is available to respondents to the study and may be purchased by the carriers. Some information concerning the ranking of top-scoring companies may be released to the public through media press releases.
• Other reports such as demographic analysis reports and in-depth carrier review reports, as well as consultation on the IIABNY Index, are also available from Vincent McCabe, Inc. upon request.
• If you are interested in purchasing IIABNY Index Reports, please contact Jamie Deapo at IIABNY at 1 (800) 962-7950 or Jean Vincent at 1 (315) 685-7227.
• Secure a copy of the order form IIABNY Industry Index order form