146 / 191
2010 Best
Practices Study
Agencies
with Revenues
Between
$10,000,000 and
$25,000,000
146
Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Staff Service Info
Technology
Insurance Carriers
Appendix
Average
Top 25%
Information Technology Employees (FTE)
Number
2.2
High
5.0
Low
0.4
Total IT Payroll Expense ($)
$157,037
$252,406
As % of Total Compensation Expense
1.5%
As % of Net Revenues
1.0%
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
94.9%
% of Users That:
Do Front-end (mail room) Batch Scanning
41.0%
Do Back-end (after CSR) Scanning
74.4%
Website
% of Agencies that Have a Website
97.4%
% of Websites That:
Optimized Their Site for Search Engines
43.6%
Participate in Paid Search Programs
12.8%
Extend Customer Self-Service Through Website
46.2%
Offer After-Hours Support Through Website
23.1%
Offer Real-Time Quotes Through Website
10.3%
Offer Ability to Request a Quote Through Website 61.5%
Use SocialMedia toBuildBrandor Attract NewProspects 23.1%
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
76.9%
Have a Written Security Plan Which Includes Staff Training and Auditing for Compliance
79.5%
Have Implemented Secure Email When Transmitting Sensitive Client Information Via Email
76.9%
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)
1.7%
1.5%
1.4%