Insurance agents are generally satisfied with insurance carriers of personal and commercial lines, despite a challenging market, according to the
Overall satisfaction for independent agents with personal lines insurers is 774 (on a 1000-point scale.) For independent agents with commercial lines, satisfaction is 781. The study suggested insurers are improving quoting platforms, increasing training and communication to maintain relationships with agents. Agents noted higher effort to work with insurers and there is reduced flexibility in the onboarding process.
"Despite historic rate increases and insurers' reduced appetite for new business, independent agent satisfaction has held steady in personal lines and increased to a new record high in commercial lines," Crewdson said. "This is a surprising finding given the challenges facing the industry and how independent agents find themselves between insurers taking historic actions and customers, who are challenged by higher premiums and in some cases even finding an insurer to insure their home."
The study, developed with the Independent Insurance Agents & Brokers of America (IIABA), is based on 4,918 evaluations of personal and commercial lines insurers with which agents had placed policies during the prior 12 months.
Crewdson shared: "Independent agents really value enhanced service from insurers. This can manifest in the form of responsiveness, providing better digital tools, providing training that helps agents grow their business, and in helping commercial lines independent agents sell into and better service the industries they focus on."