2. Data is only meaningful when you use it.
Metrics don’t matter.
Data is only meaningful when you use it.
How important are metrics to your business?
Would you be surprised if I told you that metrics really don’t matter?
They really only matter when you use them consistently
Data just for datas sake – to look at once a quarter, say hey that’s interesting and to put back in the draw is usless. And really only entertaining to us data geeks.
As busy owners – wearing a thousand different hats, you don’t have time to pay around with abstract data. You need to look at your data and find actionable meaning in it.
This workshop is about building that foundation, that habit and routine of looking at your data and using to analyze your current state, define your desired outcomes and manage the process of getting there.
The goal of this presentation is arm you with a few foundational metrics to begin measuring the trajectory of your business with. If you leave here

3. How to translate metrics into actions
Consistently track progress (approximations are ok – its about the trending)
Benchmarking for perspective
Decision making and daily management of financials, staff and investments
Involve agency staff
How important are metrics to your business?
Would you be surprised if I told you that metrics really don’t matter?
They really only matter when you use them consistently
Data just for datas sake – to look at once a quarter, say hey that’s interesting and to put back in the draw is usless. And really only entertaining to us data geeks.
As busy owners – wearing a thousand different hats, you don’t have time to pay around with abstract data. You need to look at your data and find actionable meaning in it.
This workshop is about building that foundation, that habit and routine of looking at your data and using to analyze your current state, define your desired outcomes and manage the process of getting there.
The goal of this presentation is arm you with a few foundational metrics to begin measuring the trajectory of your business with. If you leave here

4. Foundational Metrics For All Agencies
Revenue and Total Written Premium
PIF Retention
Organic Growth
Employee Capacity & Capability
What metrics are you all currently tracking and managing to?
Revenue – Im willing to bet for all
Theres an old saying what gets measured gets managed
It doesn’t have to be all you – as you think about beginning to really begin to use data in your agency I really encourage you to think about how to get your management team involved in the daily use of data. Extend that focus to to your staff as well when appropriate. The more they know about the bsuness – how it funsctions the goals you have in place and the role that they play in the health and growth of the organization the more likely they will be to embrace the culture, the employee goals and the action plans that come out of you metrics
Many successful agents distribute their KPIs to employees and use them in all reviews and 1 on 1 sessions that they have. I worked with one agency = think it was in CA = that set all of the screen savers on the computers in the office to the 3 most critical KPIs the agency had and their performance to each. It was a way of constantly reminding the staff of where they were headed and keeping them focused on that.

5. 10.5 m in CL, 6.125 PL/Avg policy premium $1300, 875K LH
Agency Case Study
Revenue: $2.28M
Total Written Premium Growth 1.5%
Revenue Growth 1.8%
Agency PIF Retention 90%
PL Avg. Policy Premium $1300
16 Employees
Benchmark: 2017 IIAB Best Practices Study
$6.12
$10.5
10.5 m in CL, PL/Avg policy premium $1300, 875K LH

6. 1. Retention

7. 1. Retention

8. 1. Retention Auto Home 83% 90% Carrier Auto Retention Carriers 1-4
85-89%
Carrier 5 + 6
82-84%
Lost Business Profile
Account
16%
Monoline
84%
Tenure
3+ Years

9. Basic Levers For Retention Improvement
Increase share of wallet: polices per customer
Active, daily cross-sell process across all lines
3rd line of business
Prioritize retention efforts by freeing up capacity
Leverage RAIS resources
Consider customer service centers
Outsourcing
Protect and defend your best customers
Bundle policies with common effective dates
Implement renewal review program
Establish a touchpoint program
Improve, track and measure to a refined new business profile
Incentivize the desired profile of business
Set goals for preferred payment types
More advanced metrics include …..

10. 2. Organic Growth

11. 2. Organic Growth

12. 2. Organic Growth CYTD PYTD PL Avg. NB Policy $1300 $1250
CL Avg. NB Policy
$2733
$3100
CL New Business Profile By Producer
Avg. NB Policy
Monoline
Producer 1
$3200
20%
Producer 2
$3000
23%
Producer 3
$2000
50%

13. Basic Levers For Organic Growth
Improve, track and measure to a refined new business profile
Implement sales improvement programs
Incentivize, manage to desired profile of business
Define your niche
Increase share of wallet: polices per customer in current book
Active, daily cross-sell process across all lines
Mine opportunities for upsells
Sell more units
Build inbound lead streams
Track source to sale and invest more in what works
Implement an active referral program
Improve current close rates through sales effectiveness
Hire additional sales focused staff
Place business with RAIS strategic carriers when feasible
Look for economic and strategic advantages
Increase lift from current book of business and production
More advanced metrics include …..

14. 4. Employee Capacity & Capability
Agency
Average
Top
# of employees 16
13.78
Revenue per employee
$142,500
$149,706
$235,960
Compensation per employee
$80,000
$72,653
$49,629
Spread per employee
$62,500
$77,052
$151,521

15. Book of Business per Producer
4. Employee Capacity & Capability
Book of Business per Producer
(commissions and fees)
New Business
New Business Agency
Average Book
Agency Book
Commercial
$50,213
$40,000
$356,115
$340,000
Personal
$31,387
$33,000
$200,842
$201,000
Multiple Lines
$30,606
$30,000
$310,800
$308,000

16. Increasing Capacity and Capability
Provide training and manage to results
Provide structured training opportunities
Complete annual reviews with goals for skill building and education
Track employee results and remediate when appropriate
Hire additional staff
Complete a capacity study
Determine need and desired skill set
Have a new hire playbook built and outline a detailed onboarding program
Fully leverage tools & technology
Use your CRM system for sales management, tracking and touchpoint
Embrace automation
Complete a tech assessment
Examine key operational processes for efficiencies
Examine each of your core processes and review for redundancies and adherence
Consider key changes in operational structure
Leverage RAIS partnerships to outsource costly non-customer facing, non-revenue generating tasks
More advanced metrics include …..

17. Economic Improvement Potential
Current
Goal
Result
Written Premium
$17,500,000
+3.0%
+ $525,000
Retention
90%
91%
+ $175,000
Revenue
$2,280,000
+ $86,000

18. What will you implement in your business?
Take Action
What will you implement in your business?