191 / 204
2013 Best
Practices Study
Agencies
with
Revenues
Over
$25,000,000
191
Analysis of Agencies with Revenues Over $25,000,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Average
+25% Profit
+25% Growth
Service Center Use
Total Personal Lines Commission placed in
Carrier Service Center
25.8%
32.8%
40.0%
Total Commercial Lines Commission placed in
Carrier Service Center
4.1%
2.9%
2.1%
Use of Carrier Service Centers
Average +25% Profit +25% Growth
Carrier Representation
Personal Lines P&C
National
12.5
12.0
12.0
Regional
13.8
*
13.3
Total
26.3
12.0
25.3
Commercial Lines P&C
National
52.0
35.7
29.0
Regional
39.6
*
39.0
Total
91.6
35.7
68.0
Group L&H / Financial
Total Life, Health, Disability, LTC,
Retirement Products, and Other
90.0
44.3
46.0
Carriers
Average
+25% Profit
+25% Growth
Agency’s Total % of Commission & Fee Revenue Derived from Direct Versus Indirect Appointments
INDIRECT Carrier Appointments
20.4%
30.0%
28.6%
DIRECT Carrier Appointments
79.6%
70.0%
71.4%
Carrier Appointments
*Insufficient Data
*Insufficient Data
Impact of Service Center Use
(% of agencies considering the impact to be
very positive
on the following)
Personal Lines
Commercial Lines
Workflows
18.2%
*
Retention
9.1%
0.0%
Profitability
27.3%
*
Sales
0.0%
*