I’ve watched a lot of agencies get hung up on comparing systems and going with the system that’s just $100 less upfront or is $10/mo less in support fees. They make a buying decision based upon price.
It’s crazy and shows that too many agencies are missing the boat on what the true purpose of an agency management system is and how a management system is the foundation to how productive your agency staff will be and how profitable your agency will be.
The discounts and free add-on’s we’ve offered are awesome, and they’ll save you a lot of money. But if saving money and creating a highly profitable agency is really important to you then we need to address where the big savings and the real saving is when using CP Manager.
CP Manager is loaded with insurance specific and productivity specific features. It was designed from the ground floor up to massively increase your productivity. But what exactly does this mean to you? How exactly will this benefit you?
Agency management systems should provide a clearly trackable result! What result, you may be asking?
The ability to handle your day to day work in the least amount of time possible. We track this a few ways…
1) How many policies a CSR can manage before they can’t get all of their work done each day, and
2) How many CSRs you have based upon your total book of business. You should also break this down by PL CSRs to PL Book of Business, and CL CSRs to CL Book of Business.
As you can see, you can easily track how productive you are. Just so you know, a CL CSR will be able to manage a larger book of business, but will manage less policies than a PL CSR due to the average premium per CL policy.
The previous system I recommended to my clients I averaged a 48.7% reduction in their workload after working with them. CP Manager is far more productive than the previous system I recommended (see our home page which discusses some of the things we did to increase the productivity of CPM). To be more conservative let’s say CPM only reduces your workload by 20%. Here’s how that would look (using a 5 user agency)…
While we can’t guarantee what the drop in your workload would be since there are numerous things that can affect this like proper training, what this shows you is with a 20% drop in your workload, each month your agency will be getting 168 hours of more work done.
Or said differently, each CSR is able to do the same work in 33.6 less hours each month.
Or said even another way, a 5 user agency can now do the same work with just 4 CSRs.
What does this mean? It means…
- Your CSRs can manage 20% more business each.
- Your CSRs have more time to work with clients or do other agency items.
- You can go longer without having to hire a new CSR saving you in salaries and taxes you’re not needing to spend, which also means you’ll have a higher cash flow when you do hire a new CSR.
- If a CSR quits, you won’t need to replace them as quickly, or possibly at all.
- You can allocate this newly found time to a new department like, “New Prospect Management” to better serve and manage prospective people contacting your agency for their insurance needs. (Just think what a department like this would do for your agency and increasing your New Business… we can help you put this department in place.)
- Allocate this new found time to Cross-Selling your clients other products they haven’t yet purchased from your agency. We can help you with this too.
- Use this newly found time to create a formalized renewal process and work on increasing your retention rate. We can help you with this too.
… and the list goes on and on.
In this example with 5 users and increasing your productivity by 20% you have an additional 168 hours a month to use however you want to. What if you increased your productivity by 30% … that’s 252 additional hours. Or by 40% … that’s 336 additional hours.
But it’s not just the time you save and the financial savings in salaries because of your CSRs being able to manage a much larger book of business that you gain. It’s all of that new business and increase in renewal business you’ll write because of having so much free time.
This is why agencies hire consultants to help them increase their productivity… the overall benefit to the agency is huge. More time, reduced salaries paid out, increased premiums.
And this is why I designed CP Manager… to support the objective of an insurance automation consultant to help you create a highly productive agency!
The point is, increasing your productivity can save you a lot of money in salaries, or it can provide you with the time to sell more insurance, or … So many options. What would you do with an additional 168-336 hours or more each month?