December 13, 2017 – Pittsfield, MA – Greylock Insurance Agency, a subsidiary of Greylock Federal Credit Union, has announced that it has achieved Best Practices status from the Independent Insurance Agents & Brokers of America (IIABA). With this status, the agency, for the second consecutive year, becomes part of an elite group of independent insurance agencies around the United States. Greylock Insurance achieved this honor by participating in the IIABA Best Practices Study Group. This annual survey and study of leading independent insurance agencies documents the business practices of the “best” agencies and urges others to adopt similar practices.
“We are honored to achieve the Best Practices status from the IIABA,” said Jay L. Marion, Greylock Insurance Agency Vice President, Commercial Lines. “Achieving this honor for the second straight year speaks to the professionalism and commitment of Greylock Insurance management and staff who work so hard looking out for the best interests of our customers. It is gratifying to know that our practices put us in the company of top agencies nationwide in categories such as product mix, growth, retention of our customers, and financial stability.”
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 second year of the current three-year study cycle, where over 1500 independent agencies throughout the U.S. were nominated to take part in the annual study in 2016. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.
Founded in 1896, IIABA is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance – property, casualty, life and health – as well as employee benefit plans and retirement products. For more information go to www.independentagents.com.