Real Time Cost-savings Worksheet
Agency Staff Information Full CSR Average cost/hr Average Hours worked Per Week CSR Average Number of Transactions per month per CSR/Processing Staff Average Number of Inquiries per month per CSR/Processing Staff $35 40.00
Average Real-Time Savings Per Month
Average Dollar Amount
$1 $1 $1 $1 $1 $1 $0 $0 $0 $0 $0 Jan Jun Jul Oct Nov May Sept Dec
200
Transactions
Inquiries Dollars Total
200
Feb
Transaction (minute) New Business Endorsements Renewal Rewrite Cancellation Total Number of Transactions Types Tested Ave Transactions (minute) Inquiry (minute) Billing Inquiry Policy Inquiry Claims Inquiry Loss Runs Web Login First Notice of Loss Other Total Number of Inquiry Types Tested Average Inquiry (minutes) 1 3 Transactions Inquiries Dollars Total Hours Total Days Total $622 $78 $700 60.00 7.50 Users/Seats 3 Jan 0 1 20 20
Month
Step 1 Enter your agency's numbers
Aug
Mar
Apr
Current Workflow
Online
Step 3
Look how much $ you will save in year one
Feb 1 $1,244 $156 $1,400 60.00 7.50
Mar 1 $1,867 $233 $2,100 60.00 7.50
Apr 1 $1,867 $233 $2,100 60.00 7.50
May 1 $1,867 $233 $2,100 60.00 7.50
Jun 1 $1,867 $233 $2,100 60.00 7.50
Jul 1 $1,867 $233 $2,100 60.00 7.50
Aug 1 $1,867 $233 $2,100 60.00 7.50
Sept 1 $1,867 $233 $2,100 60.00 7.50
Oct 1 $1,867 $233 $2,100 60.00 7.50
Nov 1 $1,867 $233 $2,100 60.00 7.50
Dec 1 $1,867 $233 $2,100 60.00 7.50 $20,533.33 $2,566.67 $23,100.00 720 90 $25,200.00 720 90
Real-Time Workflow
R-T Agency Management
Dollar Savings - Year 2 +: Hours Savings - Year 2 +: Days Savings - Year 2 +:
Transaction (minute) New Business Endorsements Renewal Rewrite Cancellation Total Number of Transactions Types Tested Average Transactions Real-Time (minutes) Inquiry (minute) Billing Inquiry Policy Inquiry Claims Inquiry Loss Runs Web Login First Notice of Loss Other Total Number of Inquiry Types Tested Average Inquiries Real-Time (minutes) 1 1 1 One-Year Users/Seats Rollout plan 1st Quarter Seats 2nd Quarter Seats 3rd Quarter Seats 4th Quarter Seats Total Seats Rolled 1 0 0 0 1 1 4 4
Step 2 How fast can you roll it out?
Savings
Average CSR Cost per task
Transactions Inquiries $9.33 $1.17
Total Tasks in Minutes per Month
3,200 400 3,600
Total Minutes
Real Time Cost-savings Worksheet
Agency Staff Information Full CSR Average cost/hr Average Hours worked Per Week CSR Average Number of Transactions per month per CSR/Processing Staff Average Number of Inquiries per month per CSR/Processing Staff
Average Real-Time Savings Per Month
Average Dollar Amount
$1 $1 $1 $1 $1 $1 $0 $0 $0 $0 $0
Transactions Inquiries Dollars Total
Jan
Jun
Oct
Jul
Nov
Transaction (minute) New Business Endorsements Renewal Rewrite Cancellation Total Number of Transactions Types Tested Ave Transactions (minute) Inquiry (minute) Billing Inquiry Policy Inquiry Claims Inquiry Loss Runs Web Login First Notice of Loss Other Total Number of Inquiry Types Tested Average Inquiry (minutes) 1 1 1 1 1 1 1 7 1 Transactions Inquiries Dollars Total Hours Total Days Total $0 $0 $0 0.00 #DIV/0! Users/Seats Jan 0 1 1 1 1 1 5 1
May
Month
Step 1 Enter your agency's numbers
Sept
Aug
Dec
Feb
Mar
Apr
Current Workflow
Step 3
Look how much $ you will save in year one
Feb 0 $0 $0 $0 0.00 #DIV/0!
Mar 0 $0 $0 $0 0.00 #DIV/0!
Apr 0 $0 $0 $0 0.00 #DIV/0!
May 0 $0 $0 $0 0.00 #DIV/0!
Jun 0 $0 $0 $0 0.00 #DIV/0!
Jul 0 $0 $0 $0 0.00 #DIV/0!
Aug 0 $0 $0 $0 0.00 #DIV/0!
Sept 0 $0 $0 $0 0.00 #DIV/0!
Oct 0 $0 $0 $0 0.00 #DIV/0!
Nov 0 $0 $0 $0 0.00 #DIV/0!
Dec 0 $0 $0 $0 0.00 #DIV/0! $0.00 $0.00 $0.00 0 #DIV/0! $0.00 0 #DIV/0!
Real-Time Workflow
Transaction (minute) New Business Endorsements Renewal Rewrite Cancellation Total Number of Transactions Types Tested Average Transactions Real-Time (minutes) Inquiry (minute) Billing Inquiry Policy Inquiry Claims Inquiry Loss Runs Web Login First Notice of Loss Other Total Number of Inquiry Types Tested Average Inquiries Real-Time (minutes) 1 1 1 1 1 1 1 7 1 One-Year Users/Seats Rollout plan 1st Quarter Seats 2nd Quarter Seats 3rd Quarter Seats 4th Quarter Seats Total Seats Rolled 0 1 1 1 1 1 5 1
Dollar Savings - Year 2 +: Hours Savings - Year 2 +: Days Savings - Year 2 +:
Step 2 How fast can you roll it out?
Savings
Average CSR Cost per task
Transactions Inquiries $0.00 $0.00
Total Tasks in Minutes per Month
0 0 0
Total Minutes
Download Cos
Assumptions: Download Cost Upgrade Hardware & Software Download Software (purchase) Download Software (maintenance) Initial Load Costs Policies In Force (PIF) per year Avg Annual Salary per CSR Working Hours per week Working Hours per year Avg Hourly Wage per CSR Avg Time to Enter Full Policy Detail (dec.hrs) New Business per year Avg Time to Enter New Policy Detail (dec. hrs) Renewals - per year Avg Time to Enter Renewal Policy Detail (dec. hrs) Endorsements per Policy Avg Time to Maintain Policy Detail (dec.hrs) 1.0000 200 1 5,000 0.5000 2 0.1000 $0.00 $0.00 $0.00 $250.00 5,000 $85,000.00 40.00 2,080.00 $40.87
Step 1
Enter your own numbers here
One-Year Rollout plan # of Carriers added in Q1 # of Carriers added in Q2 # of Carriers added in Q3 # of Carriers added in Q4 Total Seats 5 0 1 0 1
Step 2 How fast can you implement download for additional carriers?
Jan Users Policies in Force New Business Savings Renewals Endorsements Dollars Total Hours Total Days Total 2 $681 $8,514 $3,405 $29,627 725 2.27
Feb 3 $2,270 $28,379 $11,351 $98,758 725 2.27
Mar 5 $3,405 $42,568 $17,027 $148,137 2391.67 7.47
Apr 5 $85,136.22 $3,405 $42,568 $17,027 $148,137 2391.67 7.47
$17,027.24 $56,757.48 $85,136.22
Download Cost-Savings Worksheet
Download Savings/Month
$1.00 $0.90
$0.80
$0.70 $0.60 $0.50 $0.40 $0.30 $0.20
$0.10
Policies in Force New Business Savings
Renewals
Endorsements
$0.00
can you implement for additional carriers?
Step 3
After subtracting your download cost look how much $ you will save in year one
Oct 6 Nov 6 $4,087 $51,082 $20,433 $177,764 2808.33 8.78 Dec 6 1,010,283.12 40,411.32 505,141.56 20,432.69 $1,576,018.70 27,450 86 $4,087 $51,082 $20,433 $177,764 2808.33 8.78
May 5 $85,136.22 $3,405 $42,568 $17,027 $148,137 2391.67 7.47
Jun 5 $3,405 $42,568 $17,027 $148,137 2391.67 7.47
Jul 5 $3,632 $45,406 $18,162 $158,013 2530.56 7.91
Aug 6 $3,860 $48,244 $19,298 $167,889 2669.44 8.34
Sept 6 $4,087 $51,082 $20,433 $177,764 2808.33 8.78
$85,136.22 $90,811.97 $96,487.71 $102,163.46 $102,163.46 ######### $102,163.46 $4,087 $51,082 $20,433 $177,764 2808.33 8.78
Dollar Savings - Year 2 +: Hours Savings - Year 2 +: Days Savings - Year 2 +:
$2,133,173.08 33,700 105
ou will save
Download Cost-Savings Worksheet
Assumptions: Download Cost Upgrade Hardware & Software Download Software (purchase) Download Software (maintenance)
Initial Load Costs Po licies In Fo rce (PIF) p er year Avg Annual Salary per CSR Working Hours per week
Download Savings/Month
$1.00 $0.90
Step 1
0.00 #DIV/0!
$0.80
$0.70
Policies in Force New Business Savings Renewals Endorsements
Working Hours per year
Avg Hourly W age per CSR Avg Time to Enter Full Policy Detail (dec.hrs) New B u sin ess p er year Avg Time to Enter New Policy Detail (dec. hrs) Ren ew als - p er year Avg Time to Enter Renewal Policy Detail (dec. hrs) En d o rsem en ts p er Po licy Avg Time to Maintain Policy Detail (dec.hrs)
Enter your own numbers here
$0.60
$0.50
$0.40 $0.30
$0.20
$0.10
One-Year Rollout plan # of Carriers added in Q1 # of Carriers added in Q2 # of Carriers added in Q3 # of Carriers added in Q4 Total Seats 1
$0.00
Step 2
How fast can you implement download for additional carriers?
Step 3
After subtracting your download cost look how much $ you will save in year one
Oct 0 Nov 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0! Dec 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0 #DIV/0!
Jan Users Policies in Force New Business Savings Renewals Endorsements Dollars Total Hours Total Days Total 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0 #DIV/0!
Feb 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0 #DIV/0!
Mar 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
Apr 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
May 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
Jun 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
Jul 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
Aug 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
Sept 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 #DIV/0!
Dollar Savings - Year 2 +: Hours Savings - Year 2 +: Days Savings - Year 2 +:
#DIV/0! 0 #DIV/0!
ch $ you will save