2024 Best Practices Study

Technology

AGENCIES WITH REVENUES OF:

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

Number of IT Employees

0.1

0.1

0.1

0.4

0.8

5.8

(includes regularly outsourced IT support staff) IT Payroll as % of Pro Forma Net Rev IT Expense as % of Pro Forma Net Rev

0.3% 3.6%

0.4% 3.2%

0.4% 3.0%

0.4% 2.8%

0.5% 2.8%

0.8% 2.9%

(excl. comp, hardware depreciation & software amortization) Top Agency Mgmt Systems Used in Home Office:

AMS360

10.5%

31.0%

27.8%

43.1%

22.4%

16.1%

Applied - Doris

3.4%

EPIC

21.1%

41.4%

55.6%

47.1%

71.4%

69.6%

EZLynx

5.3%

3.4% 6.9%

2.0% 3.9%

HawkSoft Nexsure

15.8%

2.8%

QQ Catalyst

10.5%

Sagitta Veruna

2.0%

10.7%

3.4%

2.8% 2.8%

Xanatek - IMS

5.3%

Zywave

21.1% 10.5%

10.3%

Other

8.3%

3.9%

4.2%

3.6%

Technology Utilization: Electronic Communications Used: Texting with Clients Use of Tablets/Smartphones Agency eSignature Solutions Carrier eSignature Solutions Activity Notifications from Carrier Paperless or e-documents ("eDocs")

84.2% 89.5% 89.5% 78.9% 89.5% 78.9%

75.9% 62.1% 89.7% 79.3% 72.4% 89.7%

83.3% 69.4% 94.4% 83.3% 72.2% 97.2%

77.4% 84.9% 96.2% 73.6% 79.2% 98.1%

69.6% 75.0% 92.9% 71.4% 62.5% 92.9%

62.5% 78.6% 87.5% 58.9% 67.9% 91.1%

Marketing: Website

94.7% 78.9%

100.0%

100.0%

96.2% 67.9%

92.9% 75.0%

94.6% 76.8%

Mobile Adaptable Website

72.4%

72.2%

Social Media Facebook

68.4% 26.3% 68.4% 36.8% 42.1% 21.1%

89.7% 24.1% 65.5% 58.6% 31.0% 55.2% 82.8% 65.5% 89.7% 51.7% 20.7%

88.9% 22.2% 75.0% 36.1% 58.3% 38.9% 97.2% 91.7% 94.4% 86.1% 36.1% 11.1% 41.7% 13.9% 83.3% 27.8% 47.2% 38.9% 63.9% 69.4% 13.9%

81.1% 26.4% 86.8% 56.6% 45.3% 41.5% 98.1% 81.1% 92.5% 64.2% 24.5%

80.4% 41.1% 85.7% 53.6% 76.8% 57.1% 94.6% 83.9% 85.7% 66.1% 21.4%

75.0% 55.4% 91.1% 57.1% 64.3% 76.8% 85.7% 85.7% 91.1% 73.2% 23.2%

"X" (formerly Twitter)

LinkedIn Instagram

Customer Portal

Digital Content - Blogs, Webinars Processing Technologies: Paperless or e-documents ("eDocs")

100.0%

Secure/Encrypted email

68.4% 94.7% 78.9% 21.1%

Electronic Funds Transfer (EFT)

Online Application

Online Chat Assistance

Virtual Chat Agent (via machine learning) Mobile App (manage accounts) Integrated Leads Processing

5.3%

0.0%

5.7%

8.9%

7.1%

52.6% 21.1%

27.6% 13.8%

37.7% 22.6%

41.1% 25.0%

57.1% 30.4%

Rating Technologies:

Use Comp Rater for PL Use Comp Rater for CL

47.4% 26.3% 31.6% 15.8% 57.9% 47.4% 10.5%

75.9% 13.8% 24.1% 27.6% 55.2% 58.6% 10.3%

67.9% 32.1% 43.4% 30.2% 58.5% 58.5%

71.4% 23.2% 41.1% 33.9% 55.4% 57.1% 12.5%

78.6% 35.7% 42.9% 37.5% 62.5% 62.5%

Use 'Bridging' from within AMS (PL) Use 'Bridging' from within AMS (CL) Use Carrier Agent Portal for PL Use Carrier Agent Portal for CL Offer Consumer Rating via Website

9.4%

8.9%

Cross Category Comparison

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