Boston, January 14, 2021 –Personal lines insurance is perhaps the most important coverage that agents can offer since it protects assets that are closest to clients’ hearts. Even though the opportunity to distribute personal lines insurance through independent agents is far less than it used to be, independent agents are still a substantial distribution channel that merits attention from carriers. Moreover, it is very possible that these agents will regain some relevance if consumers’ coverage needs shift and become more complicated.
This report attempts to provide clarity on agents’ priorities when placing business, carriers’ performance in the eyes of these agents, and the influence of carrier performance on business placements. Aite Group, with the assistance of Competiscan, surveyed a group of 61 independent and captive personal lines (auto and homeowners) insurance agents in the United States from March 2020 to May 2020.
This 74-page Impact Report contains 65 figures and 20 tables. Clients of Aite Group’s Property & Casualty Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions AAA Insurance, Allstate, American Family, American Financial, Amica, Auto-Owners, Berkshire Hathaway (GEICO), Chubb, Cincinnati, CSAA, Erie, Farmers, Hanover, Kemper, Liberty Mutual, Mercury, MetLife, National General, Nationwide, Plymouth Rock, Progressive, Sentry, State Auto, State Farm, The Hartford, Travelers, and USAA.
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