MONITORING THE PLAN
The monitoring process is almost as important as the actual plan. The agency's progress toward the plan's goals should be closely and carefully monitored. To make monitoring easy, your plan should state results in measurable terms. Managers should be responsible for comparing actual results with the projected results for their department. Everyone in the manager's department should be aware of the plan's projections, which serve as goals for each person.
When results are below the goal, the manager can take quick action. Staff performance may need to be improved or efficiency measures taken. In some cases, the plan may need to be revised to make it more realistic.
The monitoring process should cover the annual goals, the sales goal, local economy, and the agency's marketplace. Agency principals should be responsible for reviewing the area's economy regularly and analyzing the direction the agency's markets are taking. Any changes, such as a local manufacturing plant closing (such as oil refineries in Houston shutting down) or a softening market in Liability coverages, should be reflected in the plan. Sales managers and other department managers should be responsible for checking on their area's goals and reporting to the principals.
MONITORING ACCOUNTS PROFITABILITY
Premium Projected ______________
Commission Projected/Percentage of Total ______________
Premium Written* ______________/______________
Commission Written* ______________/______________
Business Projected/Percentage of Total ______________
Business Written* ______________/______________
- * Indicate these as fractions. For example, premium projected over premium written would look like: $25,000/$26,000. The $25,000 figure is the projected number; the $26,000 amount indicates the premium actually written.
Personal Lines
Automobile
Standard ______________
Non-standard ______________
Homeowners ______________
Renters ______________
Personal Umbrellas ______________
Farmowners ______________
Earthquake ______________
Flood ______________
Boats ______________
Aircraft ______________
Recreational Vehicles ______________
Mobile Homes ______________
Excess Liability ______________
Misc. Property ______________
Misc. Liability ______________
TOTAL ______________
Over $10,000 Commercial Lines
Automobile
Standard ______________
Non-standard ______________
Fire
Standard ______________
Non-standard ______________
Commercial Package
Standard ______________
Non-standard ______________
Workers Compensation
Standard ______________
Non-standard ______________
Business Income ______________
Builder's Risk ______________
Boiler & Machinery ______________
Aircraft ______________
Marine Property Floaters ______________
Crime ______________
Bonds:
Fidelity ______________
Surety ______________
Other ______________
Professional Liability ______________
Errors & Omissions ______________
Directors & Officers ______________
Umbrella ______________
Flood ______________
Earthquake ______________
Misc. Liability ______________
Misc. Property ______________
TOTAL ______________
Under S10,000 Commercial Lines
Automobile
Standard ______________
Non-standard ______________
Fire
Standard ______________
Non-standard ______________
Commercial Package
Standard ______________
Non-standard ______________
Workers Compensation
Standard ______________
Non-standard ______________
Business Income ______________
Builder's Risk ______________
Boiler & Machinery ______________
Aircraft ______________
Marine Property Floaters ______________
Crime ______________
Bonds:
Fidelity ______________
Surety ______________
Other ______________
Professional Liability ______________
Errors & Omissions ______________
Directors & Officers ______________
Umbrella ______________
Flood ______________
Earthquake ______________
Misc. Liability ______________
Misc. Property ______________
TOTAL ______________
Life, Health
Life ______________
Health ______________
Disability ______________
Payroll Deduction ______________
TOTAL ______________
Indirect Income
Contingent Commissions ______________
Interest Savings ______________
Premium Finance ______________
Charges ______________
TOTAL______________
MONITORING SALES EXPENSES
Over $10,000 Commercial Lines Projected Spent % of Total
Sales Expenses
Advertising/Marketing ___________ ___________ ___________
Auto ___________ ___________ ___________
Auto Depreciation ___________ ___________ ___________
Sales Commissions ___________ ___________ ___________
Brokerage Commissions ___________ ___________ ___________
Sales Bonuses ___________ ___________ ___________
Entertainment/Travel ___________ ___________ ___________
Sales Salaries ___________ ___________ ___________
Donations ___________ ___________ ___________
Misc. Sales Expenses ___________ ___________ ___________
TOTAL __________ __________ __________
Under $10,000 Commercial Lines Projected Spent % of Total
Sales Expenses
Advertising/Marketing ___________ ___________ ___________
Auto ___________ ___________ ___________
Auto Depreciation ___________ ___________ ___________
Sales Commissions ___________ ___________ ___________
Brokerage Commissions ___________ ___________ ___________
Sales Bonuses ___________ ___________ ___________
Entertainment/Travel ___________ ___________ ___________
Sales Salaries ___________ ___________ ___________
Donations ___________ ___________ ___________
Misc. Sales Expenses ___________ ___________ ___________
TOTAL __________ __________ __________
Personal Lines Projected Spent % of Total
Sales Expenses
Advertising/Marketing ___________ ___________ ___________
Auto ___________ ___________ ___________
Auto Depreciation ___________ ___________ ___________
Sales Commissions ___________ ___________ ___________
Brokerage Commissions ___________ ___________ ___________
Sales Bonuses ___________ ___________ ___________
Entertainment/Travel ___________ ___________ ___________
Sales Salaries ___________ ___________ ___________
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