116 / 191
2010 Best
Practices Study
Agencies
with Revenues
Between
$5,000,000 and
$10,000,000
116
Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Staff Service Info
Technology
Insurance Carriers
Appendix
Average
Top 25%
Information Technology Employees (FTE)
Number
1.2
High
2.2
Low
0.2
Total IT Payroll Expense ($)
$72,146
$111,261
As % of Total Compensation Expense
1.6%
As % of Net Revenues
1.1%
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.
Scanning & Document Management
% of Agencies that Use
91.1%
% of Users That:
Do Front-end (mail room) Batch Scanning
40.0%
Do Back-end (after CSR) Scanning
64.4%
Website
% of Agencies that Have a Website
100.0%
% of Websites That:
Optimized Their Site for Search Engines
64.4%
Participate in Paid Search Programs
22.2%
Extend Customer Self-Service Through Website
40.0%
Offer After-Hours Support Through Website
44.4%
Offer Real-Time Quotes Through Website
17.8%
Offer Ability to Request a Quote Through Website 64.4%
Use SocialMedia toBuildBrandor Attract NewProspects 33.3%
Technology
Agency Management System Utilized
Average
Security Issues —% of Agencies that:
Dedicate Significantly More Time & Resources to Agency Security and/or Other Compliance Issues
Than in the Past
73.3%
Have a Written Security Plan Which Includes Staff Training and Auditing for Compliance
73.3%
Have Implemented Secure Email When Transmitting Sensitive Client Information Via Email
64.4%
Effectiveness of Technology Deployed on Agencies’ Ability to:
Very Negative
Very Positive
Reduce or Maintain Same Number of Staff Positions
Enhance Staff Productivity
Increase Proactive Client Outreach
Increase Staff Sales Activity
Average
+25% Profit
+25% Growth
Total IT Expenses
1
(as % of net revenues)
2.1%
1.5%
2.6%