2015 Best Practices Study

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2015 Best
Practices Study
Agencies
with Revenues
Between
$5,000,000 and
$10,000,000
99
Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000
Key Benchmarks
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Note: See page 163 for an explanation of column headings
Average Top 25% Profit Top 25% Growth
Total # of Service Staff
(as defined above; excludes any TPA service staff) 26.0 22.5 21.6
% of Peer Agencies Having
Separate/Dedicated Marketing Department 48.6% 50.0% 62.5%
# of Marketing Staff 1.8 1.7 1.1
Separate/Dedicated Claims Department 51.4% 25.0% 62.5%
# of Claims Staff 1.8 1.5 1.6
Average Top 25% Profit Top 25% Growth
% of Peer Agencies Having
Workers Comp TPA * * *
# of Service Staff * * *
Total TPA Revenues Serviced * * *
Group Benefits TPA 8.6% * 22.2%
# of Service Staff 1.5 * 1.8
Total TPA Revenues Serviced $123,760 * $150,387
TPA Service Staff
Service & Sales Support Staff Definition
• Typically non-commissioned employees
• Provide service to the agency’s clients
• Support producers in the sale of new business and retention of existing business
Some service positions may earn commission income but typically a majority of their pay is fixed and a majority of
their time is devoted to service rather than the solicitation of new clients.
Service & Sales Support Positions1 Included in Full-time Equivalent Headcounts
• Account Executives (AE) - senior level service representatives
• Account Managers, Customer Service Representatives (CSRs)
• Assistant CSRs, Processors
• Claims Staff
• Placers/Marketers
• Department Managers - who also service clients
1 Position titles are general categories since specific job titles vary from agency to agency.
Administrative personnel such as accounting, mail room, and reception are not included in service benchmarks
unless a portion of their time is dedicated to service.
*Insufficient Data
Service Staff Overview
Service Staff Productivity