2010 Best Practices Study
Analysis of Agencies with Revenues Under $1,250,000
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
4.7%
4.7%
5.1%
Producer Info
Impact on Effectiveness/Efficiency
Personal Lines Functions
% Having Function
Very Negative
Very Positive
Staff Service Info
96.9% 75.0% 96.9% 78.1% 50.0% 15.6% 65.6% 71.9% 50.0% 90.9% 66.7% 69.7% 97.0% 57.6% 69.7% 81.8% 63.6% 72.7% 21.2%
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 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 Personal Lines Commercial Lines (small business) Commercial Lines (some/all lines of larger risks) Claims Direct Bill Commission Statements Download Function / Usage
Technology
Insurance Carriers
Appendix
2010 Best Practices Study
Agencies with Revenues Under $1,250,000
100.0% 76.3% 47.4% 36.8% 71.1%
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