Efficient tracking of Account Manager KPIs.

‍The Challenge
This MGA faced a significant challenge in efficiently tracking the Key Performance Indicators (KPIs) for broker development against their Account Managers.

The existing process required each Account Manager to manually calculate the Gross Written Premium (GWP) for each broker by exporting data from the Insurance System. They would then compile this together in Excel and create a summary presentation of their Brokers change in growth.

This time-consuming task not only diverted valuable resources from relationship-building activities but also hindered the overall growth of the business. The irony lay in the fact that the very process meant to measure growth was impeding it.

‍The Solution
To address the challenge, our automation solution involved the development of an internal dashboard that centralized information on Account Managers, Brokers, and Gross Written Premium.

This dashboard also incorporated customizable KPIs, empowering the Senior Management Team to modify targets as needed. The key features included:‍

1. Centralization

All relevant data, including Account Managers, Brokers, and GWP, are automatically consolidated in one accessible location, instead of multiple manual spreadsheets & presentations.

2. Custom KPIs

The dashboard allowed for the inclusion of tailored KPIs, providing flexibility for the Senior Management Team to adapt targets based on evolving business needs of each Account Manager.

3. Performance Overview

Each Account Manager gained a comprehensive overview of their portfolio, highlighting top-performing brokers, month-on-month growth changes, brokers requiring additional attention, and expected GWP by the year's end.

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‍The Results
The implementation of the internal dashboard yielded significant results for the MGA:

1. Time Savings

Account Managers were liberated from the manual and time-intensive process of exporting data and creating presentations, allowing them to redirect their efforts toward building and nurturing relationships with new brokers.

2. Data Accuracy

Automation ensured that data was consistently accurate, reducing the risk of errors inherent in manual calculations and compilation.

3. Informed Decision-Making

The dashboard empowered both Account Managers and the Senior Management Team to make informed decisions. Account Managers could assess their performance and strategize improvements, while the Senior Management Team had real-time insights into the overall health of broker relationships.

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‍The Conclusion
The automated internal dashboard not only streamlined the process of tracking broker KPIs but also had a transformative impact on the efficiency and effectiveness of the MGA.

By providing a centralized, accurate, and customizable platform, the solution allowed Account Managers to focus on relationship-building, contributing to overall business growth.

The success of this automation underscores the importance of leveraging technology to optimize processes, enhance decision-making, and ultimately drive success in the insurance industry.