Patra was asked by a leading regional agency’s management team to develop a solution that increased the profitability of the agency’s small account book of business and allowed for the reallocation of resources to support larger key accounts.
The client is a $12M agency with more than 70 employees and two locations in Texas. The agency handles a variety of policies, including personal lines, commercial P&C and benefits business.
The agency’s small accounts book of business was made up of nearly 1,000 accounts under $2,500, driving nearly 5% of total agency revenue.
With three and one-half full time employees sharing the workload of account management and back-office processing, agency leadership reported a return of between -5% and break even.
Within one year of engaging Patra Select, the agency:
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