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Keys to Maximizing Productivity
While technology’s fast pace of change creates some anxiety, agencies seem to be more satisfied with their
automation systems than ever before. The vast majority rate the overall impact on agency productivity,
profitability, customer satisfaction and management information as positive to very positive.
Many agencies noted great success in scanning
daily work and storing it in electronic filing sys-
tems, thereby eliminating the need to constantly
retrieve the paper records. These systems allow all
members of the agency, from president to CSR,
have immediate access to customer records and
support their ability to electronically communicate
the information to carriers, customers and each
other.
Carrier interface, both download "data dumps" and
real-time processing, were seen as additional keys
for maximizing productivity. Many agencies
viewed both interface processes as far from perfect
solutions, but recognized benefits: download for
eliminating double entry of data, and real-time
interface for reducing paperwork and processing
times. When asked about key practices for maxi-
mizing productivity, one agent answered, "To work
with carriers that embrace real time (transformation station) and placing more of our accounts with them.
I truly hope more of the carriers get on board with real time."
Keys to Achieving a Competitive Advantage
Agencies in this study group organically grew their total commissions and fees by nearly 15% and had a
new business growth rate of 20.8%. Only firms that have been able to establish a competitive advantage
are likely to achieve results like these. When asked what had been paramount to establishing this advan-
tage, principals had varying answers ranging
from reputation for integrity to good sales
training. However, one answer was particular-
ly revealing. The principal simply said,
"Who's the better producer; me or the twenty-
five year old I just hired? I am. So, I apply the
80/20 rule and cut the bottom 20% of my
accounts (revenue), which equates to about
half my accounts (number of accounts) and
give them to him. He is cutting his teeth on
these, and I'm out generating new business.
Too many of my competitors are old and lazy
and don't want to go after new business, so
they won't give up their smaller accounts."
AGENCIES WITH REVENUES BETWEEN $1,250,000 AND $2,500,000
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EXECUTIVE
PERSPECTIVES
PROFILE
REVENUES/
EXPENSES
FINANCIAL
STABILITY
EMPLOYEE
OVERVIEW
PRODUCER
INFO
SERVICE
STAFF
INFO
TECHNOLOGY
INSURANCE
CARRIERS
APPENDIX
Keys to Maximizing Productivity
(Top 5 Listed in Order of Frequency Mentioned)
1. Effectively using automation (especially
imaging/scanning, download, carrier
websites, email, fax, etc.)
2. Eliminating/reducing redundant paper
work, workflow inconsistencies, non-
quality customer interactions
3. Providing ongoing education and
training for staff
4. Planning and staying focused (on business
wanted, partnerships needed, services to
provide, etc.)
5. Providing incentives and bonuses to
entire staff for goals attained
Keys to Achieving a Competitive Advantage
(Top 5 Listed in Order of Frequency Mentioned)
1. Long-term professional reputation and presence
in community
2. Knowledgeable, skilled, empowered staff
3. Strong client and carrier relationships
4. Quality of products and services
5. Professionalism of sales staff