Meaning & use
book of business
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Meaning
nounsingularbusiness
The full set of clients, accounts or policies that an advisor, agent or company manages and earns income from.
Grammar: Used with an or the: she has a large book of business.
Patterns
- build a book of business
- a book of business worth something
She built a book of business worth two million dollars in premiums.
When he joined the firm, he brought his book of business with him.
The agency sold part of its book of business to a larger insurer.
Word forms
| plural | books of business |
|---|
Common combinations
- build a book of business
- New agents spend years trying to build a book of business.
- grow a book of business
- She grew her book of business by referrals.
- large book of business
- A large book of business makes an advisor attractive to firms.
- sell a book of business
- He plans to sell his book of business when he retires.
- existing book of business
- Our existing book of business is stable.
Synonyms and how they differ
- client base
- Client base is a general phrase for any group of customers, while book of business emphasizes the accounts as an asset.
- portfolio
- Portfolio can mean investments or work samples, so it is broader and less precise than book of business.
- customer list
- Customer list is just names, while a book of business includes the policies or accounts and the income they bring.
- clientele
- Clientele is a formal word for regular customers and is used more for shops and restaurants.
Word family
- book noun
- a record of accounts
- business noun
- a company or trade
- bookkeeper noun
- a person who records financial accounts
- book value noun
- the value of an asset in accounts
Commonly confused: book of business or business book?
book of business vs business book
A business book is a book about management or business, while a book of business is a set of clients.
Practice
An insurance agent leaves a firm and takes her book of business. What does she take?
Choose one answer.
A book of business is the clients and accounts a person manages. Taking a business book would be a literal reading.
Make it your own
Write a sentence using “book of business”, then check it and compare it with the examples above.