It's important to GloveBox that your agency can clearly identify your return on investment. To illustrate this, we gather data around policyholder actions and use it to calculate Estimated Revenue, which is displayed in GloveBoxHQ.
Our goal at GloveBox is to ensure your agency is successful, and a key aspect of this success is ensuring you have a clear picture of your return on investment using the 'Insights' tab. The insights tab tracks specific actions your agency and policyholders take within GloveBox over time, which our team associates with a monetary value behind the scenes. Then, we put these calculations together to generate a projected 'Estimated Revenue' for your agency. You can access 'Estimated Revenue' right from the 'Overview' page in GloveBoxHQ.
Information Used to Calculate Estimated Revenue
The displayed data that is generating your Agency's Estimated Revenue started tracking on July 1st, 2023.
GloveBox utilizes data from your policyholder-driven actions to calculate estimated revenue. Since these actions have historically cost your agency time and money, the estimates reflected below are intended to reflect how much your agency has been able to save by investing in GloveBox.
| Policyholder-Driven Action | Dollar Amount | Calculation Logic |
| Refer Agency | $425 | Using a personal lines referral at an average package premium of $3,000 with a 15% new business commission level. |
| Quotes Requested | $300 | Using new or cross-sell business at an average premium (blend of mono-line & package) of $2,000 with a 15% new business commission level. |
| Bill Paid with Carrier | $25 | Referencing a phone call, email, or SMS exchange creating a savings of $25 in agency time and resources. |
| Start a Claim with Carrier | $50 | Referencing a phone call, email, or SMS exchange creating a savings of $50 in agency time and resources. |
| Roadside Assistance Requested from Carrier | $25 | Referencing a phone call, email, or SMS exchange creating a savings of $25 in agency time and resources. |
| Documents Accessed | $25 | Referencing a phone call, email, or SMS exchange creating a savings of $25 in agency time and resources. |
| Certificates Accessed | $25 | Referencing a phone call, email, or SMS exchange creating a savings of $25 in agency time and resources. |
| Certificates Requested | $25 | Referencing a phone call, email, or SMS exchange creating a savings of $25 in agency time and resources. |
| Service Requested | $25 | Referencing a phone call, email, or SMS exchange creating a savings of $25 in agency time and resources. |
There are several factors that GloveBox is not able to account for at this time when calculating Estimated Revenue, listed below.
- Clients retained over time
- Certificates requested
- Commissions on commercial client referrals
- Commissions on commercial client cross-sells
- Auto telematics carrier logins
- Carrier account logins
- Review links clicked
- Social media links clicked
- Calls, texts, and emails received from clients across service and sales
- Interactions with digital calendars or connected technology across service and sales
To learn how you can drive agency metrics, which feed client metrics and increase your estimated revenue, check out this link.
