57 / 191
2010 Best
Practices Study
Agencies
with Revenues
Between
$1,250,000 and
$2,500,000
57
Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000
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
6.3%
4.7%
4.5%
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
92.5%
65.0%
62.5%
87.5%
47.5%
65.0%
72.5%
52.5%
72.5%
20.0%
100.0%
77.1%
85.7%
80.0%
42.9%
8.6%
54.3%
54.3%
51.4%
97.6%
68.3%
34.1%
31.7%
68.3%