The 2018 Independent Agent Study: Agents speak out on carrier relationships, challenges and their future plans
from PropertyCasualty360.com, February 6, 2018
In 2017, NU forged an alliance with the National Association of Professional Insurance Agents (PIA) and Flaspöhler | NMG to conduct the inaugural Independent Agent Study — a research project designed to annually take the pulse of independent Property & Casualty insurance agents throughout the U.S. and provide revealing insight into the demographics, books of business and challenges they face, and reveal their most highly rated carrier partners.
Among the insights gleaned this year: The exodus of talent on the agency side remains concerning. Forty-five percent of our independent-agent study respondents, most of them principals or owners, said they planned to retire in the next nine years.
Only about 1 in 4 (24%) of PIA members who responded said their insurance carrier relationships were improving; 19% said their relationships had declined.
Despite 56% being armed with agency smartphones, only 41% of respondents said they can provide quotes to prospects while out in the field.
View video for more insights.