Young Agent Insights: Technology and Service Needs and Preferences

Report Summary

Young Agent Insights: Technology and Service Needs and Preferences

Paul Legutko
Senior Principal
Emerson Davis
Business Development Manager

June 2021 - Young agents demonstrate a variety of preferences when it comes to working with insurers to sell insurance and support their policyholders. Although traditional expectations and channels still sit at the core of this relationship, younger agents have begun to expect more omni-channel capabilities, different kinds of insurer support, and innovations to the insurer-distributor relationship.

This report presents the results of a survey of young independent agents across Novarica’s 400 Under 40 community.

Key Points and Findings

  • Young agents have relationships with many insurers. 48% of agents in our study work with more than 20 insurers, a higher number than reported by the IIABA.
  • Insurers and agents should share responsibility for lead generation. 43% of agents thought that lead generation activities (marketing, prospecting, collecting information) should be an “equal mix” of insurer and agent responsibility.
  • Portals remain a preferred channel for placing new business. 55% of respondents said they “always” use a portal when quoting new business.

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