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Keys to Maximizing Productivity
The utilization of new technology contributed to the success of agencies in this revenue category.
Integrating with carrier websites through both the internet and agency management systems has
increased efficiency. Being automatically directed to the correct forms and applications has
increased speed and reduced training time for
CSRs. Electronic communication with carriers
has also increased accuracy.
Technology is allowing for the streamlining of
everyday work functions. In many cases, the
agencies are light years ahead of their carriers.
Best Practices agencies are volunteering to be
beta testers for carrier downloads. The move
toward the paperless office has drastically
reduced time spent on paperwork and has
increased productivity. A reliance on advances
in technology has given producers and CSRs
time to maintain the relationships that brought
the customers in the door in the first place.
Keys to Achieving a Competitive Advantage
"It is the personal touch that sets us apart." You could hear any of these Best Practices Agencies
say this exact phrase. Every client is different; and the ability and willingness to personalize an
agency's service to the specific customer need is the heart and soul of this revenue category. The
"value-add" approach leads to higher retention rates, increased customer satisfaction and ultimate-
ly a competitive advantage in the market.
Agencies are utilizing both monetary and
non-monetary rewards. In general, mone-
tary incentives are tied to performance to
ensure "you get what you pay for" out of
producers. Managers are also quick to
point out the non-monetary rewards that
motivate employees. Empowering people
to handle more responsibility has proven
to be an effective motivator within the Best
Practices agencies. Furthermore, creating
a team oriented, family friendly atmos-
phere can lead to lower turnover and
increased profitability.
AGENCIES WITH REVENUES BETWEEN $500,000 AND $1,250,000
32
EXECUTIVE
PERSPECTIVES
PROFILE
REVENUES/
EXPENSES
FINANCIAL
STABILITY
EMPLOYEE
OVERVIEW
PRODUCER
INFO
SERVICE
STAFF
INFO
TECHNOLOGY
INSURANCE
CARRIERS
APPENDIX
Keys to Achieving a Competitive Advantage
(Top 5 Listed in Order of Frequency Mentioned)
1. Reputation and active presence in local
community
2. Experienced, quality staff
3. Credibility with limited number of good
companies
4. Aggressive commitment to customer service
5. Focused approach to clients, carriers,
business written - being selective
Keys to Maximizing Productivity
(Top 5 Listed in Order of Frequency Mentioned)
1. Use of automation to standardize workflows,
improve accuracy, track activities & results
2. Hire the right people & reward them for
high performance
3. Hold regular staff meetings to review proce-
dures, expectations
4. Develop extensive referral network in
community
5. Represent a limited number of stable
companies