| Financial
Benefits
TA Management Services offer P&C retailers and general
managing agents a new business model with considerable operating
cost savings and unlimited potential for business expansion.
Outsourcing of the trust account management empowers insurance
agencies to become more productive and more profitable.
Some of TA Service financial benefits are quantifiable; others
are not directly quantifiable. The latter will be however
recognized as factors of improvement of the agency overall
financial performance.
Quantifiable Financial Benefits:
- Payroll cost savings
- CSRs … average 30% of current
cost
- Accounting … average 70% of
current cost
- Producers and managers … average
5-10% of current cost
- Additional interest earnings … up
to 100% more interest
- Elimination of bad debt losses …
100% eliminated
Use the spreadsheet available from this website page to estimate
the potential financial gains of your agency.
Not Quantifiable Financial Benefits
- Improved cash flow
- Unlimited business expansion potential
- Reduced working capital requirements
- Better customer service
- Higher client retention ratio
- Better agency-carrier business relationship
- Reduced E&O risk exposure
Benefits Spreadsheet
Click on this link Benefits
Spreadsheet to download a Benefits Spreadsheet and estimate
your service-driven financial benefits based on your agency
data.
NOTE: The Spreadsheet has three pages: (1) Summary, (2) Assumptions
for Computations, and (3) Spreadsheet Notes. Refer to the
Notes for help on how to enter data on the Assumptions for
Computations page. Read the results on the Summary page.
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