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2007 Best Practices Study | Agencies with Revenues Between $2,500,000 and $5,000,000 | Technology
Agencies with Revenues Between $2,500,000 and $5,000,000
Appendix
Insurance
Carriers
Technology
Service
Staff Info
Producer
Info
Employee
Overview
Financial
Stability
Revenues/
Expenses
Executive
Perspectives
Profile
Technology
1
Includes hardware/software leasing including offsite applications, supplies, maintenance & maintenance contracts, training, data lines, internet providers,
website development/maintenance, outside consulting fees, computer depreciation, software amortization, and any non-depreciated hardware/software.
Instar 3.4%
TAM 58.6%
AMS-afw 10.3%
AMS360 13.8%
Sagittta 10.3%
Other 3.4%
Agency Management
System Utilized
Average
Top 25%
Information Technology FTE
Number
0.8
High
2.0
Low
0.1
Total IT Payroll Expense ($)
$45,912
$71,053
As % of Total Compensation Expense
2.1%
As % of Net Revenues
1.2%
Average
+25% Profit
+25% Growth
Total IT Expenses for Fiscal Year
1.7%
1.6%
1.2%
Scanning & Document Management
% of Agencies that Use
86.7%
% of Users That:
Use an ams for Document Management
80.0%
Use 3rd Party for Document Management
30.0%
Do Front-end (mail room) Batch Scanning 20.0%
Do Back-end (after CSR) Scanning
56.7%
Website
% of Agencies that Have
100.0%
% of Websites That:
Are More than Electronic Yellow Page
63.3%
Used in Prospecting/Sales Efforts
26.7%
Optimized for Search Engines
56.7%
Participate in “Paid” search Programs
6.7%
Is Key Component in Customer
Service Efforts
33.3%
Extend Customer Self-Service
Through Site
30.0%
Used as Vehicle to Provide Helpful
Info and Educate
73.3%
“In order to maximize the productivity of our
producers and CSRs, we have hired several quality
employees that focus on processing and managing
the detailed activity on the policy management
system on a full-time basis. These are detail-
oriented people that are very accurate. Two of
them work out of our office and two work from
home. They handle everything from endorsements
to quality control, working within a team of CSRs
and producers. The CSRs that they work with know
that everything will be checked carefully so it frees
them to focus on more client-focused activities.”