Agency Consulting Group, Inc.: Composite Groups of Agency Performance
In the past, thousands of agencies have sent Agency Consulting Group, Inc. their annual operating statements each year and we have collated the data through our master databases and published the Composite Group results each fall. The Composite Groups were divided into agencies with less than $1 Million revenue (commission plus other income - not premium), agencies with between $1 Million and $2 Million revenue, agencies with between $2 Million and $3 Million revenue and agencies with over $3 Million revenue. Each agency submitting their operating statement received an analysis of their performance compared to the appropriate Composite Group and telephone consulting support to answer questions and provide solutions to operating problems. This permitted agencies to benchmark their performance against their peers, as well as against their own historical performance each year. Included in the analysis and Composite Group studies are the important keys to agency success, Revenue per Employee, Compensation per Employee, and Spread the productivity factors in every independent agency.
In 2000, Agency Consulting Group, Inc. is automating the data collection and analysis process through the Internet. This will revolutionize the Composite Group concept because the agencies' analyses will be done in Real-Time with the Composite Groups being updated continuously rather than annually. Since updates will be on going, an agency will be able to compare its performance against its peers at any time of the year.
Beginning early in 2000, agencies can complete a simple form that can be e-mailed directly to Agency Consulting Group, Inc. (firstname.lastname@example.org). That form is automatically entered into the database and an Operating Statement Analysis is done comparing each line of the agency's revenue and expenses against the appropriate Composite Group. The agent will receive its analysis by return e-mail within 24 business hours of its submission, and Agency Consulting Group, Inc. continues to include a telephone consultation as a part of its analysis service for agents needing further assistance. Many agents use this facility to identify problems and solutions stemming from deviations noted in the analysis.
The automation of this process permits us to lower the cost of an agency's financial analysis (including telephone support) to $150 ($100 for PIA/IMMS members; Full IMMS members see the IMMS Website). Of course, agencies may still send us their Operating Statements for our direct input for $250.
Please call us at 800-779-2430 or visit our website at www.agencyconsulting.com for more information.