2013 Best Practices Study

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2013 Best
Practices Study
Agencies
with Revenues
Between
$10,000,000 and
$25,000,000
158
Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Technology Tools (% of agencies utilizing)
Average +25% Profit +25% Growth
Agency Website
Optimized for Search Engines 63.6% 87.5% 37.5%
Participate in “Paid” Search Programs (e.g., Google Adwords) 12.1% 12.5% 37.5%
Offer Realtime Quotes 21.2% 12.9% 25.0%
Offer “Request a Quote” (Online App — Not Realtime) 57.6% 62.5% 62.5%
Optimized for Mobile Devices 42..4% 62.5% 25.0%
Other 15.2% 0.0% 12.5%
Other included aggregators, claim reporting, bond app, V-Check and credit card payments, link to Zywayve and CSR24, website redesign, click-to-chat and
push-to-talk available.
Social Media
Blog 42.4% 50.0% 50.0%
Facebook 72.7% 87.55 75.0%
YouTube 27.3% 12.9% 25.0%
Twitter 54.5% 37.5% 50.0%
LinkedIn 78.8% 100.0% 62.5%
Google Places 30.3% 50.0% 37.5%
Online Ads 15.2% 0.0% 25.0%
Email Blast 63.6% 50.0% 75.0%
Other 3.0% 0.0% 12.5%
# of Staff Devoted to Social Media 2 1 1
% of Their Time Devoted to Social Media 12.5% 8.5% 9.1%
Other included online scholarship program.
Other included CSR24, Zywave, Sitkins International, MS CRM tools to manage prospects, and eSignature capability.
Producer Support
Pipeline Management 81.8% 87.5% 100.0%
Tablets/Laptops in the Field 57.6% 50.0% 37.5%
Mobile Apps 45.5% 37.5% 25.0%
Other 12.1% 0.0% 12.5%
Other included and CRM.
Business Intelligence Tools—Internal
Spreadsheets 93.9% 100.0% 87.5%
Benchmarking 69.7% 75.0% 75.0%
Reporting & Querying 78.8% 75.0% 75.0%
Other 3.0% 0.0% 12.5%
Other included Prospector, SAS Business Analytics, HR That Works, Lezage, Succeed, Milliman, , QMOD, Oceanus Partners, Wired
Quote, Silver Plume, Sage, EZLynx, Advisen, AM Best, Salesforce, BSwift, Prosential Group, Manta, MiEdge, and Succeed Management Solutions.
Business Intelligence Tools—External
Zywave 63.6% 50.0% 87.5%
Hoovers 24.2% 25.0% 25.0%
Other 33.3% 37.5% 37.5%