2004 Best Practices Study
AGENCIES WITH REVENUES BETWEEN $2,500,000 AND $5,000,000
SERVICE STAFF INFO
EXECUTIVE PERSPECTIVES
A.
Service Related Personnel
Service Related Personnel are defined in the study as typically non-commissioned employees who have responsibility -- either directly (e.g., Account Executives (AE), Account Managers (AM), Customer Service Representatives (CSRs), Assistant CSRs, etc.) or indirectly (e.g., Claims Specialist, Placer/Marketer, etc.) -- to provide or support the delivery of service to the agency’s clients.
PROFILE
+25% Profit
+25% Growth
"We hire the best people avail- able, then we will do almost any- thing to keep them happy."
REVENUES/ EXPENSES
Average
Total Number of Service Related Personnel
17.3 16.8 14.3
FINANCIAL STABILITY
Service Structure
+25% Profit
+25% Growth
% of Agencies Having:
Average
Separate/Dedicated Marketing Department Separate/Dedicated Claims Department Assistants for CSRs/Account Managers
59.4% 87.5% 25.0% 53.1% 75.0% 25.0% 65.6% 62.5% 87.5%
EMPLOYEE OVERVIEW
B.
CSR Productivity by Line of Business In the following charts the number of CSRs includes Account Executives (non-producer position) , Senior CSRs, CSRs, Account Managers, Assistant CSRs, etc. (i.e., positions with main responsibility for client service or main responsibility to support the AE, CSR/AM in providing client services). It also includes the department managers who spend a portion of their time servicing clients. Respondents were instructed to use decimals to accurately represent the actual number of full-time equivalent client service positions.
PRODUCER INFO
SERVICE STAFF INFO
How Time Was Spent
Commercial P&C CSRs
Average Top 25%
Selling New Business (New or Acct Rounding) 7.4%
Number
7.8
Administration 8.6%
TECHNOLOGY
High Low
19.0
Marketing (Placement) 19.9%
2.0
Average Commissions Serviced Average Pay ($) Average Pay (as % of Book Serviced)
$270,100 $448,896
INSURANCE CARRIERS
Claims Processing 3.9%
$40,017
Customer Service 60.2%
14.8%
APPENDIX
95
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