29 / 204
2013 Best
Practices Study
Agencies
with
Revenues
Under
$1,250,000
29
Analysis of Agencies with Revenues Under $1,250,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Average
Top 25%
Information Technology Employees (FTE)
Number
0.4
High
1.5
Low
0.1
Total IT Payroll Expense ($)
$12,092
$23,057
As % of Total Compensation Expense
2.7%
As % of Net Revenues
1.4%
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 TAM Online, Jenesis, Agency
Command, NASA - Eclipse, and Ins Pro.
Technology
Agency Management
System Utilized
Average
+25% Profit
+25% Growth
Total IT Expenses
1
(as % of net revenues)
3.0%
2.2%
2.8%
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
36.4%
37.5%
50.0%
Comparative Rating
12.1%
0.0%
12.5%
Real-time Connectivty/Download to Carriers
42.4%
62.5%
50.0%
Web Portal (Client Payments, Billing Inquiry, Quotes, etc.)
33.3%
37.5%
37.5%
Internet Marketing/Social Media
60.6%
62.5%
37.5%
Business Intelligence/Dashboards/Reporting
6.1%
12.5%
0.0%
Producer Automation
18.2%
25.0%
25.0%
Data Privacy Compliance
21.2%
25.0%
25.0%
Disaster Recovery
3.0%
0.0%
0.0%
Application, Database & Network/Server Security
6.1%
12.5%
12.5%
E-initiatives (eSignature, Electronic Policy Delivery, EFT, etc.)
39.4%
12.5%
37.5%
Other
12.1%
12.9%
0.0%
TAM
27.3%
EPIC
6.1%
AFW
6.1%
Hawksoft
6.1%
Strategic Insurance Software
6.1%
Instar
3.0%
AMS
360
27.3%
Other
18.2%
Other included telecommunications, moving toward paperless office, mobile ready website and agency phone app.