31 / 204
2013 Best
Practices Study
Agencies
with
Revenues
Under
$1,250,000
31
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
+25% Profit
+25% Growth
Service Center Use
Total Personal Lines Commission placed in
Carrier Service Center
*
*
*
Total Commercial Lines Commission placed in
Carrier Service Center
18.3%
*
*
Use of Carrier Service Centers
Average +25% Profit +25% Growth
Carrier Representation
Personal Lines P&C
National
7.7
4.8
3.7
Regional
4.8
3.5
4.6
Total
12.5
8.3
8.3
Commercial Lines P&C
National
6.8
2.4
2.7
Regional
4.6
4.7
3.4
Total
11.4
7.1
6.1
Group L&H / Financial
Total Life, Health, Disability, LTC,
Retirement Products, and Other
3.9
2.2
4.2
Carriers
Average
+25% Profit
+25% Growth
Agency’s Total % of Commission & Fee Revenue Derived from Direct Versus Indirect Appointments
INDIRECT Carrier Appointments
9.1%
3.9%
11.8%
DIRECT Carrier Appointments
90.9%
96.1%
88.2%
Carrier Appointments
*Insufficient Data
Impact of Service Center Use
(% of agencies considering the impact to be
very positive
on the following)
Personal Lines
Commercial Lines
Workflows
50.0%
*
Retention
50.0%
28.6%
Profitability
50.0%
*
Sales
50.0%
28.6%