2024 BPS Study_Final (8.16.24)

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Processing Technologies: Paperless or e-documents ("eDocs")

100.0%

82.8%

97.2%

98.1%

94.6%

85.7%

Secure/Encrypted email

68.4%

65.5%

91.7%

81.1%

83.9%

85.7%

Electronic Funds Transfer (EFT)

94.7%

89.7%

94.4%

92.5%

85.7%

91.1%

Online Application

78.9%

51.7%

86.1%

64.2%

66.1%

73.2%

Online Chat Assistance

21.1%

20.7%

36.1%

24.5%

21.4%

23.2%

Virtual Chat Agent (via machine learning)

5.3%

0.0%

11.1%

5.7%

8.9%

7.1%

Mobile App (manage accounts)

52.6%

27.6%

41.7%

37.7%

41.1%

57.1%

Integrated Leads Processing

21.1%

13.8%

13.9%

22.6%

25.0%

30.4%

Rating Technologies:

Use Comp Rater for PL

47.4%

75.9%

83.3%

67.9%

71.4%

78.6%

Use Comp Rater for CL

26.3%

13.8%

27.8%

32.1%

23.2%

35.7%

Use 'Bridging' from within AMS (PL)

31.6%

24.1%

47.2%

43.4%

41.1%

42.9%

Use 'Bridging' from within AMS (CL)

15.8%

27.6%

38.9%

30.2%

33.9%

37.5%

Use Carrier Agent Portal for PL

57.9%

55.2%

63.9%

58.5%

55.4%

62.5%

Use Carrier Agent Portal for CL

47.4%

58.6%

69.4%

58.5%

57.1%

62.5%

Offer Consumer Rating via Website

10.5%

10.3%

13.9%

9.4%

12.5%

8.9%

Productivity

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Total Number of FTE Employees:

6.0

11.3

20.9

34.8

71.7

279.7

AVERAGE

2024 BPS Pro Forma Rev per Employee 2023 BPS Pro Forma Rev per Employee

$183,050 $170,674

$182,593 $186,019

$188,362 $195,217

$225,793 $207,698

$240,379 $233,451

$249,538 $245,503

Pro Forma Compensation per EE Pro Forma Spread per Employee

$62,386

$86,917 $95,676

$100,730

$127,086

$138,669 $101,710

$159,010

$120,664

$87,632

$98,707

$90,528

AGENCIES WITH REVENUES OF:

TOP QUARTILE

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Pro Forma Revenue per Employee Pro Forma Compensation per EE Pro Forma Spread per Employee

$226,020

$215,163

$215,777

$258,286 $103,945 $111,913

$283,401 $114,645 $118,216

$277,422 $138,507 $102,897

$47,637

$77,657

$79,565

$114,411

$117,679

$110,298

Pro Forma Revenue per Employee ($ in thousands)

$283.4

$277.4

$258.3

$249.5

$240.4

$226.0

$225.8

$215.8

$215.2

$188.4

$183.1

$182.6

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

Average Top Quartile

Note : Pro Forma Revenue per Employee includes 1099 and outsourced employees.

Cross Category Comparison

60