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What Reports Should Your Insurance Agency Run For Effective Data? If you want to grow your agency, learn how to train your team but the reporting process is not nailed down, WATCH THIS!

See below for reports we discuss at length in this blog:
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How Important Is the Agency Activity Report? The activity report is rich with information! This report (when everyone is logging activities uniformly) can tell you what everyone is doing, if they are logging accurately, and where time is going.

Total Weekly Activities: Are they up or down? (use this to predict burnout)

Activities by Person: This will show you who hustled and who slacked.

Top Activity Code: This will show you if your team is following their job descriptions and handling the work that they should be! (Most systems have a way to label or code the activity)

Top Client Activities: You can filter to find which clients are being worked the most. You may notice your team over-servicing lower-level accounts!

This report is so valuable, and when displayed routinely, you can really show your team areas for improvement. Showing them the data makes it not personal but instead about the facts. We have a saying, “If it's not in the management system, it didn’t happen!” Installing that belief in your agency will help ensure your data is on track.

Overdue Activity Report: This report will show you the current backlog for each team member. We love this report as part of our Agency Efficiency program.

Overdue Activities by Code: From this report, we can see which activities we are consistently deprioritizing.

Average Backlog: This one may take some Excel handywork, but if you are skilled, you can calculate the average number of days the team is backlogged.

The overdue activity report is a great warning signal for leadership to address any backlog before it gets too crazy.

Lost Policy Report: A lot can be learned by looking at why your clients are leaving and where they're going. When the team is instructed on how to use lost policy reasons, you, as the owner, can launch strategies designed to save at-risk accounts.

Total Policies, Premiums, and Revenue Lost: We want to see what is leaving the agency.

Lost Policy by Type: Certain types of policies may have higher churn. For example, auto tends to be the most volatile. This will help your agency identify which policies need cross selling for longevity.
Lost Policy Reason

New Business Report: Too many insurance agencies use the side hustle spreadsheet to track new business rather than work to make sure the management system is accurate.

Retention Report: This report is probably the trickiest to get right. It requires the rest of these reports to be spot on. However, it is worth it to get it right. Retention is where the money is. You want to be able to track retention.

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