LD-00500 Key Strategic Indicators

How will we track progress toward our strategic objective?


 

 

PRINS INSURANCE - INTANGIBLE STRATEGIC INDICATORS - EVALUATION

 

Date Compiled     12/01/__   03/01/__    06/01/__  09/01/__                      Person Completing ________________________

 

 

SUPERB LOCAL INSURANCE AGENCY

Most people don’t know we exist. We are not doing anything to promote our business.

Industry follower. Trailing in all aspects of the industry.

Industry equal. Moves/keeps up with major industry movers, trends, technology. Reactive to industry.

Industry leader, innovative in many areas. Proactive in defining & creating new industry standards.

Industry dominator. Way ahead of industry leaders. Have completely re-invented the local insurance agency model.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

MANAGEMENT SOFTWARE USE

Software not used for management.

Software lets us get some total sales and commissions.

Software is providing the basic measurements for the business.

Software is providing productivity numbers and exceptions.

Every management function is in use that is available, and all reports are understood fully.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

ACCOUNTING SOFTWARE USE

Software not used for Accounting.

Software lets us get some total sales and commissions.

Software is providing the basic accounting.

Most of the accounting system is being used.  Still need to learn more.

All of the accounting system is being used and understood fully.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

MARKETING SOFTWARE USE

Software not used for marketing.

Software lets us get some reports and mailing lists.

Software is providing all the reports we need and mailing lists.

Software is providing everything reports, mailing lists, and follow-up activity.

Software is being used in all areas of marketing and is understood fully.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

CUSTOMER SERVICE SOFTWARE USE

Software not used for Customer Service.

Software lets us use a few of the tools for applications and customer inquiries.

Software lets us do applications, customer inquiries, changes, and all customer activity follow-ups.

Software is providing almost all customer service activities plus employee productivity numbers and exceptions.

Software is being used fully in all areas of customer service and understood by all.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

 

 

 

 

 

CLIENT SATISFACTION

Never enters any ones mind as a place to go for anything

If nothing else were available customers would visit us. Recommended to others only by mistake/desperation.

Customers will come if we are more convenient than other companies.  Customers will recommend to others occasionally.

First choice in customer’s preferences for service, quality & atmosphere. Recommended to others as the first place to go for a very good experience.

The only choice imaginable. Customers wouldn’t know where to go, or want to go, if we were closed or given a second choice.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

EMPLOYEE SATISFACTION AND TEAM SPIRIT

Staff fights, selfish, alienated, poor attendance, poor attitude.

Work because it’s a job. Need to work, don’t want to work.

Co-operative, does only what is asked. Likes working w/some of the others. Starts & leaves on-time, gives nothing extra.

Enjoys working w/everyone. Enjoys coming to work. Does more than is asked. Makes suggestions & looks to help others. Strongly prefers to work at Prins Insurance.

Family relationship w/entire office. Always looking to enhance, improve coworker’s day. Work together like a Swiss watch. More fun than work.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

INSURANCE COMPANY SATISFACTION

Insurance Companies do not want us to be their agents.

Insurance Companies will do business with us because we have a volume of business with them.

Insurance Companies want to do business with us because of good volume and good loss ratios.

Insurance Companies try to do more business with us because of good volume, good loss ratio, and we are honest and excellent to work with.

Insurance Companies all want to do business with us because we are the best agency they have ever done business with.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

BANKER/LENDER SATISFACTION

Bankers will not do business with us.

Bankers will do business with us because we pay all bills on time.

Bankers will do business with us because our financial statement is good and we pay bills on time.

Bankers want to do business with us because our financial statement and company goals are in line and our financial statement is good, and we pay our bills on time.

Bankers beg us to do business with them because we are growing properly.  They want to provide us money for expansion. They understand us and our procedures better than any other insurance agency in town.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

SIMPLIFY UNDERWRIGHTING GUIDELINES AND EMPLOYEE UNDERSTANDING  (all employees within 6 months)

We have company manuals for all products that we quote.  We are trying to get employees to read them.

We have manuals for all products.  Half of the employees have read them.  We have made notes and some simplified guidelines.

We have manuals and some simplified guidelines. All people have read them and know where to find answers to their questions when quoting.

We have manuals and simplified guidelines for all products that we can quote and bind.  All people have read them and know where to find answers.

We have standardized guidelines for all products we can quote and bind.  All people know them. The guidelines are good enough that we don’t have to refer to the manuals.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

MARKETING LOOKS AND FEELS LIKE DIRECT MARKETERS

No marketing efforts are being done.

We have some advertising in local newspapers. 

We have some advertising in local newspapers. 

We have a planned advertising program in local newspapers. Working on direct mail lists and material.

We have a planned advertising program in newspapers and direct mail to preferred clients. 

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

MARKETING SYSTEM PROVIDES THE BEST WRITTEN PROPOSAL IN THE INDUSTRY

No written insurance proposal is being used.

Written proposals are used for about half of our quotes.

Written proposals are use for all quotes, all have price, but some are not complete with descriptions of coverage.

Written proposals are used for all quotes with price and descriptions for all items, including optional coverage.

Written proposals are used for all quotes with price, descriptions, optional coverage, and claims examples of basic and optional coverage.  Proposals bring out feelings of being protected by the policy rather than just price and coverage description.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

MARKETING SYSTEM PROVIDES THE BEST CLIENT REFERALL SYSTEM IN THE INDUSTRY

No referral system in place.

Referrals are asked for once in a while.

A referral system is in place, and is being used about half the time.

A complete referral system is in place and automated with the agency software.  Testing is being done on incentives and marketing material.

A complete referral system is in place and automated with the agency software.  All material has been tested, and the system is providing more preferred leads than we have ever had before.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

MARKETING SYSTEM PROVIDES A COMPLETE CUSTOMER FULFILLMENT PROGRAM

Staff not caring, not helpful, not listening, responsive, rude & argues w/customer.  No written contact after we write the policy.

Staff helps only when asked & provides only product. Poor greeting, low enthusiasm, no listening skills, and no closing customer statement.  We have no written contact. Customer touch program is being planned.

Good greeting w/weak smile. Med. enthusiasm. Listens but no helpful suggestions. Provides only exact product requested. Habitual thank you.  We have a written contact customer touch program in place for half of our preferred clients.

Great greeting. Med./High enthusiasm. Warm smile, Listens carefully, helps customer’s w/suggestions. On the “look out” to do common courtesies for the customer to enhance their experience. Sincere thank you. We have a written contact customer touch program in place for over half of our preferred clients.

Has product waiting for customer as they arrive. Great greeting. High enthusiasm. Welcoming smile. Listens carefully. Asks questions to clarify needs. Encourages customer w/helpful suggestions. Makes coming to our office a wonderful experience.  We have a written contact customer touch program in place for all of our preferred clients.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

 

 

 

SCRIPTS IN PLACE FOR EVERYTHING POSSIBLE

No scripts in place for anything we do.  Everyone does what they think works.

Scripts in place for doing the insurance survey for all products we can quote.  Nothing else has scripts.

Scripts in place for how we greet people when they call or come to the office, insurance surveys, and scripts for the application procedure.

Additional scripts in place for most of the new business and service tasks, with the additional script for obtaining referrals in all possible cases.

Scripts in place for all of our routine work with continuous improvement until they are the best we can provide.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

SYSTEMS IN PLACE FOR EVERYTHING POSSIBLE

Unsystematic, reactive to everything. No accountability. Chaos.

Few written, loosely systematized procedures/aspects. Low accountability few areas.

Most procedures identified. Most work OK. Some procedures detailed. Some accountability. High skill dependency all levels.

All procedures identified & detailed. All written. Full accountability. Most systems work well. Moderate skill levels dependency all levels.

Staff easily trained, or readily identifies all systems, procedures. All systems work exceptionally well. High system dependency.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10

 

 

ENVIRONMENT & ATMOSPHERE

Cold, dirty, quiet (no buzz) uninviting, unappetizing, depressing.

Plain, easily overlooked. No or poor music choices. No atmosphere plan. Ordinary. Would stay only if needing to rest.

Warm & inviting. Music at random. Theme defined, not completed. Customers come for the product & service, not the sights, sounds, feel. Staff attire can affect customer’s experience.

Music programmed. Theme completed. Staff attire enhances customer experience. Staff loves environment. Décor fits well. customers feel comfortable.

Customers feel welcome and comfortable.  They love to come and visit us.  Clients feel confident that they will get friendly, knowledgeable, and professional service from us.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

0

+1

+2

+3

+4

+5

+6

+7

+8

+9

+10