Unlocking Growth Through Strategic Planning: A Must for High-Performing Insurance Brokerages

Top-performing firms never settle. They are constantly on the hunt for advantages—be it recruiting elite talent, building up high-output producers, or deploying transformative technology. But what separates the exceptional from the average often comes down to something deceptively simple: having—and continuously refining—a strategic plan.

At DOXA, we’ve seen firsthand how meaningful strategic planning sets the foundation for sustainable growth, better performance metrics, and ultimately, higher valuations. It’s not just an annual exercise—it’s a mindset.

Strategic planning, when done right, can hardwire success into the DNA of an insurance firm. From integrating data into every conversation to making room for clear decision-making frameworks, the message is clear: if you want to grow, plan for it—and do it intentionally.

The Great Divide in Performance

The insurance distribution space has been undergoing rapid consolidation, with firm valuations hitting new highs. But we’re also seeing a widening gap between firms with solid long-term organic growth and those simply buoyed by today’s hard market. The most successful firms? They didn’t get lucky. They planned their success—and updated that plan frequently.

According to the 2025 Insurance Agency & Brokerage Compensation Report, 25% of firms don’t have a strategic plan at all. That’s a quarter of the industry walking into the future blindfolded. Meanwhile, among the top 25% of high-performing firms—ranked by organic growth—84% update their strategic plans annually. Compare that to just 61% of average-performing firms, and the message is clear: strategy is not optional. It’s your growth engine.

Why Strategic Planning Falls by the Wayside

If strategic planning is so effective, why isn’t everyone doing it?

It boils down to three issues:

1. Complacency – The insurance industry has built-in advantages: recurring revenue, resilient margins, and stability in turbulent markets. This can breed a dangerous “if it ain’t broke, don’t fix it” mentality.

2. Overwhelm – Many leaders don’t know where to start. The thought of corralling senior leaders for an all-day brainstorming session feels unproductive or intimidating.

3. Poor Prioritization – Strategic planning isn’t urgent—until it’s too late. In a landscape where fires pop up daily, long-term planning often gets shoved to the bottom of the to-do list.

At DOXA, we believe that’s a critical mistake.

Building the Right Plan: Where to Start

Before diving into strategic planning, it’s crucial to have executive buy-in. Leadership must champion the process and be ready to make meaningful changes based on the output. Without this, planning becomes performative and toothless.

Next, clarify that this isn’t about sitting around and theorizing—it’s about making decisions. A strategic planning session without actionable takeaways is just another meeting. That’s why we recommend following DOXA’s “What, Who, How” approach to prepare:

• WHAT are you trying to accomplish? Just as importantly, what are you not trying to accomplish?

• WHO needs to be in the room? Keep the group small (under 10 people). Include key decision-makers and individuals who understand both the firm’s financials and its operational realities. Be thoughtful about whether to include producers, as their focus may not align with long-term strategy.

• HOW do we get there? Start with data. Identify your financial targets, sales velocity goals, and other relevant metrics. Consider working with a seasoned facilitator who can keep the team focused and challenge assumptions. And take the meeting offsite—it’s amazing how much more gets done without in-office distractions.

Three Questions Every Planning Session Must Answer

Once you’ve done the pre-work and gathered the right people, your strategic planning session should revolve around three pivotal questions:

1. Where Are You?

This is your diagnostic phase. Use both internal historical performance and external benchmarks to get a clear, honest picture. Review key KPIs like EBITDA, revenue growth, and producer productivity. A SWOT analysis can help clarify strengths, weaknesses, and market opportunities. Spend about 20% of your time here—and come prepared so it doesn’t dominate the session.

2. Where Are You Going?

This is your vision-setting phase. Think in terms of five-year goals. Where should your revenue, geographic reach, leadership depth, and service offerings be by then? Use the SMART framework (Specific, Measurable, Achievable, Realistic, Time-bound) to make these goals actionable. Spend another 20% of your meeting here.

3. How Will You Get There?

This is the heart of your session—and where 60% of your time should be focused. Outline execution plans: key initiatives, responsible parties, timelines, and check-in cadences. This is where the strategy becomes operational. And this is where most firms stumble—because without execution, a plan is just wishful thinking.

You might evaluate dozens of areas: leadership succession, producer development, sales enablement, M&A readiness, or digital infrastructure. Pick the three or four most impactful, and build detailed roadmaps for each.

Execution: The True Differentiator

Planning isn’t the end—it’s just the beginning. The best firms live their plan. They reference it during leadership meetings, revisit it quarterly, and recalibrate when needed.

One of the most common failures in strategic planning is writing a great plan… and never looking at it again. At DOXA, we believe your strategic plan should be a working document. It should live where leaders can see it. It should guide decisions, not gather dust.

And remember, the execution phase is where outside help can be invaluable. Engaging strategy consultants or operating partners can help ensure follow-through, provide accountability, and fill in expertise gaps.

Why This Matters in M&A

For firms looking to scale, sell, or attract growth capital, strategic planning is more than a nice-to-have—it’s a valuation driver.

Buyers and investors look for evidence of structured growth, leadership depth, and future potential. Firms with clear strategic direction and execution discipline are the ones commanding premium multiples. If you’re under $20M in revenue and thinking about your next chapter, a smart, continuously updated plan is one of the best ways to stand out.

Final Thoughts

In a competitive insurance landscape, where capital is flowing and consolidation continues, strategic planning is no longer a “big company” activity—it’s a must-have for survival and success. The best firms don’t just plan once—they build planning into their culture. And the results speak for themselves.

At DOXA, we work with brokerages and MGAs that are committed to growth—and that starts with asking the right questions and executing on a clear vision. Whether you’re looking to sell, partner, or expand, your strategic plan is your blueprint.

Let’s connect and discuss how DOXA can help you scale intentionally.