2004 Best Practices Study
AGENCIES WITH REVENUES BETWEEN $5,000,000 AND $10,000,000
SERVICE STAFF INFO
EXECUTIVE PERSPECTIVES
A.
Service Related Personnel
Service Related Personnel are defined in the study as typically non-commissioned employees who have responsibility -- either directly (e.g., Account Executives (AE), Account Managers (AM), Customer Service Representatives (CSRs), Assistant CSRs, etc.) or indirectly (e.g., Claims Specialist, Placer/Marketer, etc.) -- to provide or support the delivery of service to the agency’s clients.
PROFILE
+25% Profit
+25% Growth
"We know that if we hire and develop only the best employees, the rest will take care of itself."
REVENUES/ EXPENSES
Average
Total Number of Service Related Personnel
30.2 27.2 27.6
FINANCIAL STABILITY
Service Structure
+25% Profit
+25% Growth
% of Agencies Having:
Average
Separate/Dedicated Marketing Department Separate/Dedicated Claims Department Assistants for CSRs/Account Managers
58.1% 37.5% 37.5% 80.6% 87.5% 87.5% 58.1% 37.5% 75.0%
EMPLOYEE OVERVIEW
B.
CSR Productivity by Line of Business In the following charts the number of CSRs includes Account Executives (non-producer position), Senior CSRs, CSRs, Account Managers, Assistant CSRs, etc. (i.e., positions with main responsibility for client service or main responsibility to support the AE, CSR/AM in providing client services). It also includes the department managers who spend a portion of their time servicing clients. Respondents were instructed to use decimals to accurately represent the actual number of full-time equivalent client service positions.
PRODUCER INFO
SERVICE STAFF INFO
How Time Was Spent
Commercial P&C CSRs
Average Top 25%
Selling New Business (New or Acct Rounding) 6.6%
Number
11.9 22.0
Administration 5.5%
TECHNOLOGY
High Low
Marketing (Placement) 23.8%
6.2
Average Commissions Serviced Average Pay ($) Average Pay (as % of Book Serviced)
$342,492 $457,001
INSURANCE CARRIERS
Customer Service 61.9%
$41,962
Claims Processing 2.2%
12.3%
APPENDIX
119
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