177 / 191
2010 Best
Practices Study
Agencies
with Revenues
Over $25,000,000
177
Analysis of Agencies with Revenues Over $25,000,000
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Staff Service Info
Technology
Insurance Carriers
Appendix
Very Negative
Very Positive
Inquiry—Billing, Claims, Policy View / Status
Claims Reporting / Notice of First Loss
Loss Runs
Rate / Quote
Multiple Carrier Rating (through comparative rater)
Policy Issue
Endorsements
Alerts / Activity Notifications
Make a Payment
Book Roll
Real Time Interface
Via Agency Management System
Personal Lines Functions
Average
+25% Profit
+25% Growth
% of Agencies having:
Average Number of Real-Time Interfaces
13.7%
7.6%
9.2%
Impact on Effectiveness/Efficiency
Inquiry—Billing, Claims, Policy View / Status
Claims Reporting / Notice of First Loss
Loss Runs
Rate / Quote
Rate Quote With Attachments
Multiple Carrier Rating (through comparative rater)
Policy Issue
Endorsements
Alerts / Activity Notifications
Commercial Lines Functions
Personal Lines
Commercial Lines (small business)
Commercial Lines (some/all lines of larger risks)
Claims
Direct Bill Commission Statements
Download Function / Usage
% Having
Function
100.0%
43.8%
31.3%
87.5%
75.0%
50.0%
75.0%
62.5%
50.0%
31.3%
100.0%
53.8%
92.3%
84.6%
38.5%
7.7%
69.2%
76.9%
53.8%
88.2%
82.4%
23.5%
23.5%
47.1%