A new survey from the research division within Digital Insurance's parent company provides insights on how insurance professionals view some of the issues surrounding the election and their impact on the future.
The respondents were employed by insurance carriers or worked as agents and brokers and worked in the following lines of insurance were owners/executives (51%), senior management (9%), middle management (13%) or staff (78%).
- Life insurance carrier – 9%
- Property & casualty carrier – 18%
- Health insurance carrier – 6%
- Multi-line carrier – 5%
- Agent or broker – 57%
When asked which outcome for President would best benefit their company, 36% of the carriers and 52% of the agents and brokers believed a Republican outcome would be better for their companies in the long-term, while 50% of the carriers and 35% of the brokers believed a Democrat in the White House would be preferable.
As far as their preference on the majority in the Senate, 43% of the carriers and 47% of the agents and brokers believed a Republican majority would be better, while 55% of the carriers and 37% of the agents and brokers said a Democratic majority would be more beneficial.
The respondents were also almost equally split on which type of House majority would be beneficial with 36% of carriers and 50% of agents and brokers preferring a Republican majority, while 55% of carriers and 32% of agents and brokers favoring a Democratic majority.
Respondents were also asked if the shift from Biden to Harris changed their expectations for the impact the race for the White House would have on their business and 33% replied yes, while 66% indicated the change would have no impact.
The survey also asked which of the candidates' policies were most important to the insurance industry and respondents identified: job growth, climate change and the regulation of artificial intelligence as the factors that would have the most impact.
Respondents also shared their views on what they thought would be the best outcome for the country and what they believed the likely outcome of the election would be.
