2007 Best Practices Study

Agencies with Revenues Under $1,250,000

Executive Perspectives

Profile

Revenues/ Expenses

Financial Stability

Employee Overview

Producer Info

Service Staff Info

Technology

Insurance Carriers

Appendix

Technology

Average

Top 25%

Information Technology FTE Number

0.4 1.5 0.0

High

Low

Total IT Payroll Expense ($)

$11,076

$28,786

As % of Total Compensation Expense

2.7% 1.4%

As % of Net Revenues

Average

+25% Profit

+25% Growth

Total IT Expenses for Fiscal Year

2.7%

2.1%

2.0%

1 Includes hardware/software leasing including offsite applications, supplies, maintenance & maintenance contracts, training, data lines, internet providers, website development/maintenance, outside consulting fees, computer depreciation, software amortization, and any non-depreciated hardware/software.

Agency Management System Utilized

Scanning & Document Management % of Agencies that Use % of Users That: Use an ams for Document Management

72.2%

AMS360 8.6%

Prime 8.6%

63.9%

Use 3rd Party for Document Management 13.9% Do Front-end (mail room) Batch Scanning 8.3% Do Back-end (after CSR) Scanning 47.2%

Instar 8.6%

Vision 2.9% MiAssistant 2.9%

Website % of Agencies that Have

Other 14.3%

75.0%

TAM 48.6%

Ebix 2.9%

% of Websites That: Are More than Electronic Yellow Page

AMS-afw 2.9%

52.8%

Used in Prospecting/Sales Efforts

27.8%

“Using real-time interface enables us to do things faster and in more efficient ways. We cut down our new personal lines process quoting time in half. Even something as simple as a billing inquiry is better. I can be talking with my client and in the 20 seconds it takes to obtain the real-time billing info, be finding out whether or not his daughter has gotten her driver’s permit.”

Optimized for Search Engines

52.8%

Participate in “Paid” search Programs Is Key Component in Customer Service Efforts

5.6%

25.0%

Extend Customer Self-Service Through Site

11.1%

Used as Vehicle to Provide Helpful Info and Educate

66.7%

25 2007 Best Practices Study | Agencies with Revenues Under $1,250,000 | Technology

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