PayneWest Insurance named a 2013 Best Practices Agency

Less than a year after it was formed out of the union of Payne Financial Group and Western States Insurance, Missoula-based PayneWest Insurance has been named a Best Practices Agency by the Independent Insurance Agents and Brokers of America (IIABA). Selected for operational excellence, chosen agencies are among the country’s top-performing agencies in one of six revenue categories.

"During our transition from two companies to one, we worked hard to bring our people and resources together in ways that best fit our clients and communities," said Kyle Lingscheit, co-CEO of PayneWest Insurance. "We are proud to see those efforts recognized by the IIABA."

Each year, IIABA and Reagan Consulting, an Atlanta-based management-consulting firm, join forces to study the country’s leading insurance agencies. The nominated agencies are selected every three years through a comprehensive nomination and qualifying process to be awarded a "Best Practices Agency" designation.

1,168 independent insurance agencies throughout the United States were nominated this year, but only 213 agencies, PayneWest Insurance among them, received the industry’s "Best Practices" honor. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories. To retain their status, selected "Best Practices" agencies must submit extensive financial and operational data for review each year.

The citation is just the latest recognition of PayneWest Insurance’s strength as an employee-owned, client-focused insurance brokerage. In July, PayneWest Insurance was named the 35th largest insurance broker in the United States by Business Insurance Magazine. In February 2013, the company was named among the "100 Best Companies to Work For in Oregon" by Oregon Businessmagazine. PayneWest was listed in eighth place in the medium-sized company category.

The Best Practices Studywas initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual survey and study of leading independent insurance agencies documents the business practices of the "best" agencies and urges others to adopt similar practices.

About PayneWest Insurance

Headquartered in Missoula, Mont., PayneWest serves 30 communities through offices in Washington, Oregon, Montana and Idaho, and provides insurance solutions, surety and employee benefits for private individuals and businesses. http://www.PayneWest.com

About Independent Insurance Agents and Brokers of America

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. Web address: http://www.independentagents.com.

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