114 / 191
2010 Best
Practices Study
Agencies
with Revenues
Between
$5,000,000 and
$10,000,000
114
Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Staff Service Info
Technology
Insurance Carriers
Appendix
Average
+25% Profit
+25% Growth
Total # of Service Staff:
(as defined above; excludes any TPA service staff)
25.3
20.7
21.5
% of Peer Agencies Having:
Separate/Dedicated Marketing Department
53.3%
75.0%
50.0%
# of Marketing Staff
2.2
1.7
2.8
Separate/Dedicated Claims Department
60.0%
50.0%
33.3%
# of Claims Staff
2.0
2.3
2.0
Average
+25% Profit
+25% Growth
% of Peer Agencies Having:
Workers Comp TPA
0.0%
0.0%
0.0%
# of Service Staff
*
*
*
Total TPA Revenues Serviced
*
*
*
Group Benefits TPA
8.9%
16.7%
16.7%
# of Service Staff
1.5
2.0
1.5
Total TPA Revenues Serviced
$88,854
$49,670
$33,066
TPA Service Staff
Service Staff is defined in the study as typically non-commissioned employees who are responsible for providing
service to the agency’s clients and/or supporting producers in the sale of new business and the retention of
existing business.
(Some service positions may earn commission income but a majority of their pay is fixed.)
Senior
level service staff is referred to as
Account Executives (AEs)
. All others including Account Managers, Customer
Service Reps (CSRs), Assistant CSRs, Processors, Claims Specialists, Placers/Marketers, etc. are referred to as
Service/Sales Support Staff
.
*Insufficient Data
Service Staff Overview
Service Staff Productivity
“The insurance companies were a much better source of employees in the past.
That was helpful, in that our hires already knew the business. Today, we have to
grow our own and that’s forced us to develop skills we never needed before.”
Average # of
Licensed
Employees:
37.0
(includes sales and
service/support staff)