Property and casualty insurers who best satisfy independent agents also see the greatest financial performance and profitability, according to new data.
Independent agents still control the majority of P&C premiums despite the growth of tech-based and direct-to-consumer 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 of the property and casualty insurance practice at J.D. Power. “Insurers that embrace the critical role independent agents play and work to find ways to partner with them have a significant opportunity to increase overall sales volume through improved customer acquisition and retention.”
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That contention was borne from J.D. Power’s 2018 US Independent Agent Satisfaction Study, released Thursday. Among the study’s findings: