What Is a Business Peer Group?

A business peer group is a small group of business owners who meet regularly to share what is working, pressure-test big decisions, and hold each other accountable. For independent insurance agency owners, that means a room of people who understand your business, don't compete with you, and have nothing to sell you.

You need one because the most expensive decisions in your agency are usually the ones you make alone.

I've been consulting with insurance agencies since 2011 and facilitating peer groups for agency owners since 2020. Here's what I've learned about why they work, who they're for, and who should skip them.

How I Ended Up Running Peer Groups

In 2020, every agency I worked with was facing the same problems for the first time. Employees were suddenly remote. Producers who lived on face-to-face meetings couldn't get in front of anyone. The whole industry was shaken up, and nobody knew what came next.

I noticed I was having nearly the same conversation with five different owners every week. Each one believed they were the only one struggling.

So I put a few of them on a Zoom call together. It turned out they were far more helpful to each other than I was repeating myself. That first call became what is now The Insurance Peer Group.

What a Peer Group Is (and Isn't)

A peer group is not a networking event. Nobody is passing out business cards or working the room.

It is also not a conference. Conferences give you general information from a stage. It might be good information, but it was written for a thousand people, not for you.

A peer group is the opposite. The insight is tied to your specific problems, and it comes from owners who have been in the same trenches you're standing in right now. When someone tells you how they restructured producer comp, they're not guessing. They lived it, including the parts that went badly.

What Actually Happens in a Meeting

Our groups are capped at 10 agencies, and no two members compete in the same market. Groups meet on Zoom once a month for about two hours and in person twice a year.

Every meeting follows the same structure:

•Agency updates. Each owner shares what they're working on, new challenges, and progress on current projects.

•Shared insight. Members compare notes on carriers, markets, hiring, technology, and operations.

•Commitments. Everyone leaves with one clear action to take before the next meeting.

Members also have an accountability partner between meetings. You can see the full process on our How It Works page.

Why Agency Owners Need One

Agency owners are some of the most capable people in the industry. They're also some of the most isolated.

Your team can't always tell you the hard truth. Your carriers have their own agenda. Your spouse has heard enough about it. That leaves you making big calls with a small amount of outside input.

Here's what changes when you have a group.

You stop buying things you don't need

The most common win I see is a decision not to do something.

Several times, I've watched members bring a new piece of technology to the group, fully ready to sign. After the group walked through it with them, asking the questions a salesperson never will, they decided not to implement it. That saved them the money, the time, and the months of frustration that come with rolling out the wrong tool.

One member was about to hire an implementation expert for a software rollout. Another member had worked with that same expert before. After talking through the details, it was clear he wouldn't see the benefits he was paying for. That one conversation saved him several thousand dollars.

You find out what things really cost

Another member was negotiating a vendor contract and thought the rate was reasonable. Then he mentioned it in the group and learned that other members had already negotiated a much better deal with the same vendor. He went back to the table and now saves about $5,000 a year.

That's the kind of information you won't find in a brochure. Nobody publishes what they're charging your neighbor.

You actually do the thing

Every owner has a list of good ideas they never get to. When you commit to an action in front of nine peers, and you know they'll ask about it next month, the list starts getting shorter. Funny how that works.

You get a personal board of directors

Gin Kinneman, a member in Virginia, put it better than I can. She describes her peer group as her personal board of directors: people who already know her agency and can guide her when she needs it.

Steve DeLuca in Colorado shared that his business has tripled in size since joining. I won't take credit for Steve's work, but I believe the group made the path clearer and faster.

"But I Don't Want to Share My Numbers"

This is the most common concern I hear, and it's a fair one.

Here's how we handle it. Nobody in your group competes with you. Every member agrees to keep group discussions confidential. And you decide what you share and when.

Most members start with general challenges and open up as trust builds. Within a few meetings, the group usually becomes one of the safest places to talk about your agency. More on that in our FAQ.

Who a Peer Group Is Not For

A peer group is not for everyone, and I'd rather tell you that now.

It's not a good fit if you aren't focused on growth, aren't open to new ideas, tend to stay negative, or aren't willing to share your own experiences. The group only works when everyone gives as much as they take. If you're looking for somewhere to vent once a month, a group text with your friends is cheaper.

Our groups are also built specifically for independent P&C agency owners doing $500K or more in annual revenue. We don't work with captive agents or national brokers.

Quick Answers

What is a business peer group?

A small group of non-competing business owners who meet regularly to share best practices, work through decisions, and hold each other accountable.

How is a peer group different from a conference?

A conference gives general information to a large audience. A peer group gives specific advice about your business from the same small group of owners every month.

How often do insurance agency peer groups meet?

Our groups meet virtually once a month for about two hours, plus two in-person meetings a year.

Will I be in a group with my competitors?

No. No two members of a group compete in the same market.

Who should join a peer group?

Growth-minded independent agency owners who are willing to share their own experiences and act on what they learn.

Stop Figuring It Out Alone

If you're tired of making every big decision on your own, a peer group might be the best investment you make this year. Groups are small and spots are limited.

Apply here and book a 30-minute conversation to see if a group is the right fit for your agency.