63 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$1,250,000 and
$2,500,000
63
Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000
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
37.5%
*
*
Total Commercial Lines Commission placed in
Carrier Service Center
10.7%
*
*
Use of Carrier Service Centers
Average +25% Profit +25% Growth
Carrier Representation
Personal Lines P&C
National
5.1
3.9
5.9
Regional
5.0
4.3
4.6
Total
10.1
8.2
10.4
Commercial Lines P&C
National
7.5
6.0
10.3
Regional
7.6
6.0
6.4
Total
15.1
12.0
16.6
Group L&H / Financial
Total Life, Health, Disability, LTC,
Retirement Products, and Other
9.3
10.4
10.5
Carriers
Average
+25% Profit
+25% Growth
Agency’s Total % of Commission & Fee Revenue Derived from Direct Versus Indirect Appointments
INDIRECT Carrier Appointments
12.6%
11.6%
13.9%
DIRECT Carrier Appointments
87.4%
88.4%
86.1%
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
14.3%
*
Retention
14.3%
*
Profitability
28.6%
*
Sales
0.0%
*