2013 Best Practices Study

2013 Best Practices Study

Key Benchmarks Mgmt. Perspectives Profile Revenues Expenses Profitability Employee Overview Producer Info Service Staff Info Technology Insurance Carriers Appendix

SERVICE STAFF INFORMATION

77. Service Staff — Typically non-commissioned personnel who are responsible for providing service to the agency’s clients and/or supporting producers in the sale of new business and the retention of existing business. 78. Service /Sales Support Staff Definitions: • Account Executives (AE) — Senior level service position, often assigned to a Commercial P&C or Group L&H producer in order to support & enable the producer to focus on new business production. Primary responsibility is to manage the overall service plan/activities for an existing book of business and to maintain ongoing client relationships including renewals & account development. In some agencies the AE position may have specific responsibility to solicit new clients or write new business that is referred/ comes to agency, but a majority of time is spent on service and client retention. • Customer Service Reps (CSR)s / Account Managers — Senior level service position in agencies where the AE position does not exist to support the producer. Position will serve as the main service contact for the client. Customer service duties are similar to AE duties including renewals, account upgrading, cross- selling, etc., but may include some processing responsibilities (e.g. coordinate new client set-up, prepare proposals, order & check policies, issue certificates, binders, billings, etc.). • Assistant CSRs/Processors — Lower level service position whose main function is to support AEs or other senior level service staff. Position may or may not have direct client contact. Duties vary but are usually processing oriented (e.g. coordinate new client set-ups, prepare proposals, order & check policies, issue certificates, binders, billings, etc.). • Marketing — Has responsibility to negotiate with carriers to obtain coverage for clients (solicit quotes/ rates, negotiate coverage/pricing; place new & renewal business with carriers; may prepare proposals/ binders). Keeps track of market trends, pricing and underwriting policies. If you do not have a person dedicated to these activities, leave blank. • Claims — Coordinates P&C claims reporting, tracking, processing, and analysis for agency and its clients; delivers VAS claims services. If you do not have a person dedicated to these activities, leave blank. 79. Service Staff Pay Ranges — Pay includes Salary, Commissions, and Bonuses but does NOT include benefits or payroll taxes.

INSURANCE CARRIERS

80. Top Carrier Commissions: Small Commercial Accounts — Accounts generating less than $7,500 in commission income. 81. Carrier Service Center Use — Carriers with whom agency has the option of placing policies in their service centers (i.e., the carrier will assume the role of providing customer service to the policyholder).

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