2014 Best Practices Study

Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000

Key Benchmarks

Service Staff Productivity

Profile

Service & Sales Support Staff Definition • Typically non-commissioned employees • Provide service to the agency’s clients • Support producers in the sale of new business and retention of existing business Some service positions may earn commission income but typically a majority of their pay is fixed and a majority of their time is devoted to service rather than the soliciting of new clients. Service & Sales Support Positions 1 Included in Full-time Equivalent Headcounts • Account Executives (AE) - senior level service representatives • Account Managers, Customer Service Representatives (CSRs) • Assistant CSRs, Processors • Claims Staff • Placers/Marketers • Department Managers - who also service clients 1 Position titles are general categories since specific job titles vary from agency to agency Administrative personnel such as accounting, mail room, and reception are not included in service benchmarks unless a portion of their time is dedicated to service.

Revenues

Expenses

Profitability

Employee Overview

Producer Info Service Staff Info

Technology

Insurance Carriers

Appendix

Service Staff Overview

Average

+25% Profit +25% Growth

Total # of Service Staff

(as defined above; excludes any TPA service staff)

50.5

47.9

53.0

% of Peer Agencies Having Separate/Dedicated Marketing Department

62.9%

37.5%

75.0%

# of Marketing Staff

3.6

2.7

3.0

Separate/Dedicated Claims Department

82.9%

75.0%

87.5%

# of Claims Staff

2.4

2.0

2.6

TPA Service Staff

Average

+25% Profit

+25% Growth

2014 Best Practices Study

% of Peer Agencies Having Workers Comp TPA

6.8%

12.5%

12.5%

Agencies with Revenues Between $10,000,000 and $25,000,000

# of Service Staff

*

*

* *

Total TPA Revenues Serviced

*

*

Group Benefits TPA

6.8%

12.5%

12.5%

# of Service Staff

* *

* *

* *

Total TPA Revenues Serviced

125

*Insufficient Data