2010 Best Practices Study
Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000
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
7.8%
6.9%
7.8%
Producer Info
Impact on Effectiveness/Efficiency
Personal Lines Functions
% Having Function
Very Negative
Very Positive
Staff Service Info
90.9% 60.6% 54.5% 87.9% 51.5% 69.7% 72.7% 60.6% 72.7% 24.2% 96.9% 78.1% 90.6% 93.8% 53.1% 15.6% 65.6% 71.9% 53.1%
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
Insurance Carriers
Appendix
2010 Best Practices Study
Agencies with Revenues Between $2,500,000 and $5,000,000
97.1% 60.0% 31.4% 34.3% 68.6%
87
Made with FlippingBook