2010 Best Practices Study
Analysis of Agencies with Revenues Over $25,000,000
Technology
Mgmt. Perspectives
Profile
Average
Top 25%
Information Technology Employees (FTE) Number
Revenues
7.7
Expenses
High Low
17.0
2.0
Profitability
Total IT Payroll Expense ($)
$624,573
$1,132,393
Employee Overview
As % of Total Compensation Expense
1.6% 1.0%
As % of Net Revenues
Producer Info
Average
+25% Profit
+25% Growth
Staff Service Info
Total IT Expenses 1 (as % of net revenues)
2.0%
1.9%
2.1%
Technology
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.
Insurance Carriers
Agency Management System Utilized
Appendix
Scanning & Document Management % of Agencies that Use % of Users That: Do Front-end (mail room) Batch Scanning
84.2%
42.1% 84.2%
Do Back-end (after CSR) Scanning
Website % of Agencies that Have a Website
94.7%
% of Websites That: Optimized Their Site for Search Engines Participate in Paid Search Programs Extend Customer Self-Service Through Website Offer After-Hours Support Through Website Offer Real-Time Quotes Through Website 15.8% Offer Ability to Request a Quote Through Website 31.6% Use SocialMedia toBuildBrandor Attract NewProspects 42.1% 63.2% 31.6% 47.4% 15.8%
Average
Security Issues —% of Agencies that: Dedicate Significantly More Time & Resources to Agency Security and/or Other Compliance Issues Than in the Past
89.5%
2010 Best Practices Study
Have a Written Security Plan Which Includes Staff Training and Auditing for Compliance
68.4%
Have Implemented Secure Email When Transmitting Sensitive Client Information Via Email
84.2%
Agencies with Revenues Over $25,000,000
Very Negative
Very Positive
Effectiveness of Technology Deployed on Agencies’ Ability to:
Reduce or Maintain Same Number of Staff Positions
Enhance Staff Productivity
176
Increase Proactive Client Outreach
Increase Staff Sales Activity
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