26 / 191
2010 Best
Practices Study
Agencies
with Revenues
Under $1,250,000
26
Analysis of Agencies with Revenues Under $1,250,000
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Staff Service Info
Technology
Insurance Carriers
Appendix
Average
Top 25%
Information Technology Employees (FTE)
Number
0.5
High
1.2
Low
0.1
Total IT Payroll Expense ($)
$14,538
$31,225
As % of Total Compensation Expense
3.1%
As % of Net Revenues
1.6%
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
85.0%
% of Users That:
Do Front-end (mail room) Batch Scanning
15.0%
Do Back-end (after CSR) Scanning
60.0%
Website
% of Agencies that Have a Website
90.0%
% of Websites That:
Optimized Their Site for Search Engines
42.5%
Participate in Paid Search Programs
20.0%
Extend Customer Self-Service Through Website
32.5%
Offer After-Hours Support Through Website
45.0%
Offer Real-Time Quotes Through Website
27.5%
Offer Ability to Request a Quote Through Website 67.5%
Use SocialMedia toBuildBrandor Attract NewProspects 50.0%
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
50.0%
Have a Written Security Plan Which Includes Staff Training and Auditing for Compliance
57.5%
Have Implemented Secure Email When Transmitting Sensitive Client Information Via Email
47.5%
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)
2.6%
2.6%
3.4%