July 25th, 2018
Did you hear that Nationwide Insurance has plans to transition to an independent agency distribution model over the next two years? Independent insurance agents continue to be a driving force in the sale of a wide variety of consumer and business insurance coverages.
According to the Independent Insurance Agents Independent Agents and Brokers of America, independent agents remain the largest and most preferred channel for consumers to purchase insurance, writing 83 percent of all commercial premiums and 35.5 percent of all personal P&C premiums.
According to a recent JD Power report, that’s a significant market share, given the proliferation of technology-based insurance solutions and the development of so many direct-to-consumer sales channels.
“Independent agents have continually found ways to stay relevant to customers in spite of the push toward digital and direct channel solutions,” said Tom Super, Director, Property & Casualty Insurance Practice at J.D. Power.
Studies show that consumers see continued value in both the personal interaction and choices that independent agents provide. On average, independent agents work with 11 commercial lines and 8 personal lines carriers.
We’re here to help you grow your independent insurance business. Assure Alliance is the exclusive Strategic Independent Agents Alliance (SIAA) partner covering north Georgia and South Carolina. SIAA is an international alliance dedicated to helping smaller independent property/casualty agencies grow while increasing their income and value. Additionally, SIAA provides a proven solution for direct writers, captive agents and producers to establish independent agencies from scratch.