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2007 Best Practices Study | Agencies with Revenues Between $1,250,000 and $2,500,000 | Technology
Agencies with Revenues Between $1,250,000 and $2,500,000
Appendix
Insurance
Carriers
Technology
Service
Staff Info
Producer
Info
Employee
Overview
Financial
Stability
Revenues/
Expenses
Executive
Perspectives
Profile
Technology
1
Includes hardware/software leasing including offsite applications, supplies, maintenance & maintenance contracts, training, data lines, internet providers,
website development/maintenance, outside consulting fees, computer depreciation, software amortization, and any non-depreciated hardware/software.
TAM 66.7%
Other 3.3%
Instar 3.3%
AMS-afw 6.7%
AMS360 16.7%
Irs-aims 3.3%
Agency Management
System Utilized
Average
Top 25%
Information Technology FTE
Number
0.6
High
2.0
Low
0.1
Total IT Payroll Expense ($)
$25,632
$52,857
As % of Total Compensation Expense
2.3%
As % of Net Revenues
1.3%
Average
+25% Profit
+25% Growth
Total IT Expenses for Fiscal Year
1.9%
2.1%
1.6%
“I’m thinking of purchasing a smaller
agency that isn’t automated, and I am
struggling with whether to pursue it or
not. They are in a community we
would like to be in, but they haven’t
kept up with technology. Bringing
them up to speed would take a while.
It’s hard to factor that into the
purchase price.”
Scanning & Document Management
% of Agencies that Use
80.0%
% of Users That:
Use an ams for Document Management
76.7%
Use 3rd Party for Document Management
20.0%
Do Front-end (mail room) Batch Scanning 13.3%
Do Back-end (after CSR) Scanning
63.3%
Website
% of Agencies that Have
93.3%
% of Websites That:
Are More than Electronic Yellow Page
40.0%
Used in Prospecting/Sales Efforts
23.3%
Optimized for Search Engines
40.0%
Participate in “Paid” search Programs
13.3%
Is Key Component in Customer
Service Efforts
13.3%
Extend Customer Self-Service
Through Site
13.3%
Used as Vehicle to Provide Helpful
Info and Educate
70.0%