Reports are the window to your agency’s future. They tell you where you’re performing well and highlight areas to improve. And, since all your agency data is stored in your management system, they’re easy to obtain.

If you’re just getting started with reports, it can be overwhelming to know where to start. So, we’ve come up with the top reports you need to run to measure your sales success.

Start with Your Data

First things first: data coming out is only as good as data coming in. To get useful reports, you must establish insurance agency workflow procedures around data entry.

Work with your team to make data entry uniform across the agency. Discuss best practices around creating customer profiles and recording information. It’s important to ensure all policies have information – like producer, CSR, and premium amounts – assigned appropriately. Policies must be accurate and up-to-date every day to guarantee precise, clean data for accurate reports.

Cut down on data entry by using integrated systems in your agency

1.) Sales Reports

Reports: Sales Pipeline, Win/Loss Ratio, and Sales Production Reports

These reports answer a number of questions, such as:

  • Where is your sales team winning and why?
  • What opportunities are you not winning and where is that business ending up?
  • What industries/markets is your agency succeeding in and how do you focus on growing that book of business?

Another less obvious but impactful report is an Activity report, showing where your sales team is spending their time. If you’re not tracking sales team activities in your agency, it’s time to start.

Check out these tips on how to create a winning sales team in your agency

2.) Current Business Reports

Reports: Book of Business and Production Reports

Your management system should give you a clear picture of your existing business, including breaking down by the following:

  • Policies by Carrier
  • Line of Business
  • By Personal, Commercial, and Benefits

You can also gain current business insights by viewing CSR activities and workload by carrier, line of business, policy type, etc. Reports like these can help with managing staff, telling you which CSRs or account managers have heavier workloads than others.

3.) Financial Reports

Reports: Balance Sheet and Income Statements

As you may have guessed, accounting reports are critical for understanding success as it pertains to the agency’s bottom and top line. These reports should be clean and easy to read and review with your bookkeepers and CPAs. Financial reports tell you where money is being spent and where money is being made, helping you determine how to best use funds and investments

Find out if you’re making the most of your insurance agency accounting data on our blog

4.) Activity Reports

Reports: Activity reports by staff and customer

Activity reports can tell you if: 1) your team is spending their time effectively and 2) if they’re spending it with the right clients. Use activity reports to see if VIPs are getting the attention they deserve and if too much effort is put into leads that go nowhere.

Client portals are a great way to capture customer activities, giving insight into what customers need and how they’re interacting with your agency.

Get All the Tools You Need in One System

Getting good reports has a lot to do with the tools you use to gather data. That’s why we’ve made our Partner XE agency management system so data-friendly, with integrated accounting and email systems, a Client Portal plug-in, and our Producer Results Manager and Marketing Automation Manager to help agencies track all the essential data they need in one system.

Get the full details on how Partner XE makes reporting easy. Schedule a demo and get in touch with an SIS team member today.

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Author: Bryce Lee

Bryce Lee has been a part of the Strategic Insurance Software team since 2009, working in a variety of capacities including client acquisition and implementation, agency training and account management. As Partner XE Product Manager Bryce collaborates with the Partner XE User Community, industry partners, and business partners to set the vision and priorities for the Partner XE roadmap.

He organizes and leads product workgroups and manages the team creating product and user requirements. Bryce is an AUGIE Ambassador and highly involved with ACT. He also serves as an advisor to the Partner XE User Community Board.

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