Internal Succession Readiness Evaluation

81-90

EXCEEDS EXPECTATIONS
You have a strong succession plan in place with most key elements addressed, but may lack some specific details or a recent update. Formalize all outstanding items and communicate them with potential successors and key stakeholders. 

71-80

MEETS EXPECTATIONS
The foundation of your succession plan exists, but there are significant gaps. As a result, you should begin the process of establishing a team of advisors or staff members to laser in on those priorities. Once they are established, you should be able to realize your business goals and work toward your exit strategy. 

61-70

NEEDS IMPROVEMENT
You understand that a succession plan is important, but you often begin the process and fall out later. Revisit the succession planning process, consider meeting with a successful peer or consultant for guidance, and tap into resources that are available. 

Below 60

UNSATISFACTORY

You have not engaged in succession planning, and this puts the future of your practice at risk. The most important step is to start immediately, even if you don’t plan to exit the business for many years down the road. Seek professional guidance from a succession planning expert to ensure the continuity and legacy of your insurance business.