2004 Best Practices Study

AGENCIES WITH REVENUES BETWEEN $10,000,000 AND $25,000,000

D.

Utilization of Carrier Real-Time Interface

via Proprietary Carrier Website

via Agency Management System

EXECUTIVE PERSPECTIVES

# of Real-Time Interfaces

0

9.4% 6.3%

38.7% 9.7% 19.4% 9.7% 6.5% 16.1%

1-2 3-4 5-6 7-8 9+

12.5% 12.5% 9.4% 50.0%

PROFILE

REVENUES/ EXPENSES

Impact of Interface on Agency Effectiveness/Efficiency

Via Proprietary Carrier Website

% Having Function

Impact Score*

% Having Function

Impact Score*

Personal Lines Functions

Commercial Lines Functions

FINANCIAL STABILITY

0%

50%

100%

0%

50%

100%

Inquiry - Billing/Payment Inquiry - Policy Detail/Status Inquiry - Claims Status Claims Reporting

Inquiry - Billing/Payment Inquiry - Policy Detail/Status Inquiry - Claims Status Claims Reporting

EMPLOYEE OVERVIEW

Loss Runs Rate/Quote Policy Issue Endorsements

Loss Runs Rate/Quote Policy Issue Endorsements

PRODUCER INFO

3.00

3.50

4.00

4.50

5.00

3.00

3.50

4.00

4.50

5.00

Via Agency Management System

SERVICE STAFF INFO

% Having Function

Impact Score*

% Having Function

Impact Score*

Personal Lines Functions

Commercial Lines Functions

50%

50%

0%

100%

0%

100%

Inquiry - Billing/Payment Inquiry - Policy Detail/Status Inquiry - Claims Status Claims Reporting

Inquiry - Billing/Payment Inquiry - Policy Detail/Status Inquiry - Claims Status Claims Reporting

TECHNOLOGY

Loss Runs Rate/Quote Policy Issue Endorsements

Loss Runs Rate/Quote Policy Issue Endorsements

INSURANCE CARRIERS

3.00

3.50

4.00

4.50

5.00

3.00

3.50

4.00

4.50

5.00

APPENDIX

*Impact Scoring - Participants were asked to score the impact on the agency’s effectiveness/efficiency where 1 = VERY NEGATIVE and 5 = VERY POSITIVE.

147