Club Capital Blog

Chart of Accounts Created for Insurance Agencies | Key Metrics and Accounting

Club Capital is the largest accounting and advisory firm for insurance agency owners in the country. For our clients, that means working with dedicated account managers who have extensive knowledge and experience dealing with similar accounting situations in the industry. 


For the past 5 years, Club Capital has helped insurance agents better manage their agency's finances through best-in-class monthly accounting and tax services with the unique ability to benchmark their financials against all the agents Club Capital works with. 


Club Capital’s new Chart of Accounts allows agents to better understand how and where they make their money with a detailed split between new and renewal revenue. This powerful level of detail is not only valuable to review your own agency’s performance, but also provides you a glimpse of how top performing agencies rely on the same revenue sources across the country.


Club Capital delivers monthly financial reports to agents every month with a custom chart of accounts built for the insurance industry, allow you to benchmark your results to your industry peers, and provide “CFO-lite” dashboards to stay on top of your agency’s key financial metrics.


Key Insurance Agency Metrics - New Revenue vs. Renewal Revenue 


Club Capital empowers insurance agency owners by providing easy to read data that allows you to quickly assess how your agency is financially performing. 

We create tools with insurance agency owners in mind to help answer some of these common questions: 

  • What happened this month?
  • Where did I make my money?
  • What’s the health of my business? 


Our Chart of Accounts separates new revenue from renewal revenue so you can quickly see how much you made in new business and how much was from renewal. Adding the ability to compare new revenue against renewal revenue is a large component of our forecasting & budgeting tools provided through CFO Services.


With agency-specific variables such as average premium values, expected monthly sales (policies sold), and current book values we can accurately forecast agency revenue across all lines of business for the next three years.  This type of insight is invaluable for an agency owner to proactively make data-driven decisions that help achieve their financial goals. 


For instance, some companies have commission rate changes on the horizon and the ability to forecast that direct impact into your Agency’s revenue and bottom line is game changing.




Key Insurance Agency Metrics - Team ROI vs. Marketing ROI


Club Capital has also added two new key performance indicators to our dashboard - Marketing ROI and Team ROI. 


A common issue with growing an agency is being able to track the return on investment (ROI) when it comes to marketing and growing your team. These metrics are key to better understanding your expenses and growing your agency.  


Our Chart of Accounts are designed to be intuitive and easy to use. We provide the formulas we used for each calculation along with other key performance indicators that help you better understand the data. 



Get Started With Our New Chart of Accounts 

Our Chart of Accounts are exclusively available for Club Capital members. Schedule a demo to see how we can help you become a better CFO for your Agency today.

By Club Capital | March 24, 2022 | | 0 Comments

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