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Keys to Maximizing Productivity
Clearly, automation holds the key to maximizing productivity within these agencies. Several
agencies stressed the importance of first investing in technology and then committing to utilize it.
Imaging technology was mentioned most frequently.
The cost has decreased to a level that makes it avail-
able to these agencies, and has helped most move
closer to the ideal of a "paperless" environment - one
that we have all dreamed of for decades now!
Productivity gains have also come in the continuing
availability and use of real-time interfaces with the
carriers. Most of the functions from inquiry to actu-
al processing are now available for both commercial
and personal lines via the agency's automation sys-
tem (as opposed to access through the carriers' pro-
prietary systems only).
Keys to Achieving a Competitive Advantage
A number of factors were mentioned by this group, including the quality of their products, serv-
ice, and staff. Additionally, the importance of a community presence was a common answer. In
a world of increasing consolidation of companies and services, many of these agencies feel that
their local presence and community involvement gives
them a competitive advantage. One agency principal said
that having three active partners gives them the ability to
react quickly. With an increasing amount of information
available on the Internet, the availability of live customer
service by knowledgeable employees makes a difference
to clients. It also increases retention. With independent
agencies, some of which are owned by a third or fourth
generation, there is a sense of reliable service with strong
and deep community roots.
AGENCIES WITH REVENUES BETWEEN $2,500,000 AND $5,000,000
80
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. High level of knowledge,
expertise, and skill
2. Quality reputation and
presence in community
3. Superior service
4. Excellent markets/carrier
relationships
5. Diversity of products and
value added services
Keys to Maximizing Productivity
(Top 5 Listed in Order of Frequency Mentioned)
1. Effective use of agency automation
and technology
2. Continuous employee education and
training
3. Setting goals, monitoring progress
and regularly communicating results
4. Consistent workflows
5. Focused marketing efforts