125 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$5,000,000 and
$10,000,000
125
Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Average
Top 25%
Information Technology Employees (FTE)
Number
1.2
High
3.3
Low
0.2
Total IT Payroll Expense ($)
$77,288
$128,368
As % of Total Compensation Expense
1.8%
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.
Other included Zywave Products and MHM/Winflex.
Technology
Agency Management
System Utilized
Average
+25% Profit
+25% Growth
Total IT Expenses
1
(as % of net revenues)
2.3%
2.2%
2.3%
Average
+25% Profit
+25% Growth
Top Priorities for Software/IT Investments in Coming Year
(% of agencies indicating investment as one of top 3)
Agency Management System
45.5%
50.0%
60.0%
Comparative Rating
9.1%
20.0%
20.0%
Real-time Connectivty/Download to Carriers
18.2%
20.0%
20.0%
Web Portal (Client Payments, Billing Inquiry, Quotes, etc.)
29.5%
0.0%
20.0%
Internet Marketing/Social Media
50.0%
50.0%
30.0%
Business Intelligence/Dashboards/Reporting
31.8%
40.0%
40.0%
Producer Automation
18.2%
10.0%
30.0%
Data Privacy Compliance
11.4%
10.0%
10.0%
Disaster Recovery
13.6%
10.0%
0.0%
Application, Database & Network/Server Security
18.2%
10.0%
10.0%
E-initiatives (eSignature, Electronic Policy Delivery, EFT, etc.)
29.5%
40.0%
50.0%
Other
9.1%
20.0%
10.0%
TAM
58.1%
Sagitta
7.0%
EPIC
11.6%
Vision
4.7%
AMS
360
16.3%
AFW
2.3%
*
Other included website makeover, virtualization, proprietary software and VOIP.