2024 BPS Study_Final (8.16.24)

Technology

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Number of IT Employees

0.1

0.1

0.1

0.4

0.8

5.8

(includes regularly outsourced IT support staff) IT Payroll as % of Pro Forma Net Rev

0.3%

0.4%

0.4%

0.4%

0.5%

0.8%

IT Expense as % of Pro Forma Net Rev

3.6%

3.2%

3.0%

2.8%

2.8%

2.9%

(excl. comp, hardware depreciation & software amortization)

Top Agency Mgmt Systems Used in Home Office:

AMS360

10.5%

31.0%

27.8%

43.1%

22.4%

16.1%

Applied - Doris

3.4%

EPIC

21.1%

41.4%

55.6%

47.1%

71.4%

69.6%

EZLynx

5.3%

3.4%

2.0%

HawkSoft

15.8%

6.9%

3.9%

Nexsure

2.8%

QQ Catalyst

10.5%

Sagitta

2.0%

10.7%

Veruna

3.4%

2.8%

Xanatek - IMS

5.3%

2.8%

Zywave

21.1%

10.3%

Other

10.5%

8.3%

3.9%

4.2%

3.6%

Note: these results do not reflect agency management system usage across the entire independent broker landscape. They are simply the results of the finite number of Best Practices agencies. Across the industry, agency management system usage varies materially from these results.

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Technology Utilization: Electronic Communications Used: Texting with Clients

84.2%

75.9%

83.3%

77.4%

69.6%

62.5%

Use of Tablets/Smartphones

89.5%

62.1%

69.4%

84.9%

75.0%

78.6%

Agency eSignature Solutions

89.5%

89.7%

94.4%

96.2%

92.9%

87.5%

Carrier eSignature Solutions

78.9%

79.3%

83.3%

73.6%

71.4%

58.9%

Activity Notifications from Carrier

89.5%

72.4%

72.2%

79.2%

62.5%

67.9%

Paperless or e-documents ("eDocs")

78.9%

89.7%

97.2%

98.1%

92.9%

91.1%

Marketing: Website

94.7%

100.0%

100.0%

96.2%

92.9%

94.6%

Mobile Adaptable Website

78.9%

72.4%

72.2%

67.9%

75.0%

76.8%

Social Media Facebook

68.4%

89.7%

88.9%

81.1%

80.4%

75.0%

"X" (formerly Twitter)

26.3%

24.1%

22.2%

26.4%

41.1%

55.4%

LinkedIn

68.4%

65.5%

75.0%

86.8%

85.7%

91.1%

Instagram

36.8%

58.6%

36.1%

56.6%

53.6%

57.1%

Customer Portal

42.1%

31.0%

58.3%

45.3%

76.8%

64.3%

Digital Content - Blogs, Webinars

21.1%

55.2%

38.9%

41.5%

57.1%

76.8%

Cross Category Comparison

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