Posted: Thursday, May 19th, 2016
Woodmere, OH, May 19, 2016 – MarshBerry is proud to announce that McSherry & Hudson is the winner of our 2016 Agency Peak Performance Exchange (APPEX) Pinnacle Award. This is the fourth time since 1999 that McSherry & Hudson has achieved this distinction.
The award is given to the agency that achieves the highest performance as measured by MarshBerry’s proprietary financial and productivity benchmarking system Perspectives for High Performance (PHP). The benchmarking system measures key ratios relative to the profit, equity and operational characteristics of an agency allowing for relevant comparisons against industry average and high-performance standards. An overall score called the Performance Indicator Number, or PIN, is calculated based on the key ratios. The agency with the highest PIN is recognized with the Pinnacle Award at the semiannual APPEX symposium.
“McSherry & Hudson makes a concerted effort to attract and retain entrepreneurial individuals that have the ability to drive new business generation, cultivate lasting relationships with their existing client base and command the skillset to become future leaders of the organization,” said John Wepler, Chief Executive Officer, MarshBerry. “The partners have successfully perpetuated the agency once internally and they are currently completing a second round of internal perpetuation. Meanwhile, they are building the next generation to successfully perpetuate again in the future.”
Unique in the insurance industry, APPEX is an executive peer-to-peer consulting service dedicated to help improve agency value. Partnership in APPEX provides idea-sharing and industry-specific benchmarking, information and technology.
“Our dedicated staff has, for over 100 years, carried out the mission of total commitment to our clients and that is a huge part of why we have been so successful,” said McSherry & Hudson partner Dave Bachan. “Throughout the years we’ve benefited from participating in the financial and peer group exchanges. Our partnership in MarshBerry’s APPEX peer exchange network has been invaluable as a guiding light in agency management and the disciplines needed to succeed in today’s insurance world.”