2010 Best Practices Study
Analysis of Agencies with Revenues Over $25,000,000
Mgmt. Perspectives
Real Time Interface Via Agency Management System
Profile
Revenues
Expenses
Average
+25% Profit
+25% Growth
Profitability
% of Agencies having:
Employee Overview
Average Number of Real-Time Interfaces
13.7%
7.6%
9.2%
Producer Info
Impact on Effectiveness/Efficiency
Personal Lines Functions
% Having Function 100.0%
Very Negative
Very Positive
Staff Service Info
Inquiry—Billing, Claims, Policy View / Status Claims Reporting / Notice of First Loss Loss Runs Rate / Quote Multiple Carrier Rating (through comparative rater) Policy Issue Endorsements Alerts / Activity Notifications Make a Payment Book Roll Inquiry—Billing, Claims, Policy View / Status Claims Reporting / Notice of First Loss Loss Runs Rate / Quote Rate Quote With Attachments Multiple Carrier Rating (through comparative rater) Policy Issue Endorsements Alerts / Activity Notifications Commercial Lines Functions Personal Lines Commercial Lines (small business) Commercial Lines (some/all lines of larger risks) Claims Direct Bill Commission Statements Download Function / Usage
Technology
43.8% 31.3% 87.5% 75.0% 50.0% 75.0% 62.5% 50.0% 31.3% 100.0% 53.8% 92.3% 84.6% 38.5% 7.7% 69.2% 76.9% 53.8%
Insurance Carriers
Appendix
2010 Best Practices Study
Agencies with Revenues Over $25,000,000
88.2% 82.4% 23.5% 23.5% 47.1%
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