Can anyone provide me with statistics on the number of b2b clients a back office employee can service at an insurance broker?
Answers (3)
Gordon C
Commercial Insurance Specialist / Risk Management Consultant
Best Answers in: Business Insurance (2)
That number is going to vary based on the level of technology in the brokerage, the average premium size of the accounts being handled and the type of accounts - for example construction accounts will create more service work than a wholesaling account in general, in addition to the overall size of the brokerage and the organizational structure. If you're talking about a moderately sized retail single office agency/brokerage, I believe that the target revenue per commercial service employee is in the $200,000 range - that's revenue, not premium. There are several industry resources that bench mark those numbers with the variables mentioned above segmented out - most of which you need to subscribe to, but they are out there. Hope that helps.
Gordon Coyle
Joey H
Sales Executive at Businessolver
Best Answers in: Business Insurance (2), Information Security (1)
This really depends on several factors relating to the skill set of the servicing employee/team. In my experience, managing to one renewal every week along with new business production activity is a good bench mark. Anything much more than this, creates a situation similar to a waiter with too many tables--you start serving cold food. Keeping your eye on the ball (the customers) is the most important thing obviously in these situations. It's fairly simple to grow your team along with your book of business in a way that distributes and dilutes the work load in a way that benefits both you and your customers. A lot of this could also depend on what size of customers you're working with on a day to day basis. You could have several extremely small customers that work you to near death that have a revenue base that doesn't support the work load, conversly, you could have a few customers that make up 80% of your book of business. The work load will vary depending on the type of customers you have, the size and maintenance level of each.
I hope this helps a little.
Take care,
Joey
Roy,
Depends on the type and size of your clients. It also depends on your internal organisation and your softwareprograms. You might get some anwers via NVGA and NVA.
Good luck!
