Carriers, Consumers & the Digital Insurance Experience

A report from Ivans says carriers are continually looking for “quality” agencies to make appointments. The annual Agency-Carrier Connectivity Trends Report says the best way to find those agents is at trade shows and other insurance events.

On the other hand, while agents love the face-to-face with carriers, what they really want is a digital connection; that super-fast way of premium quoting, and getting a real-time appetite guide.

Ivans’ report was generated from an online survey of 1,456 individuals. They were agents, carriers, wholesalers and technology providers. They ranking the top carriers based on a digital experience.

Here’s some of what the survey found:

• 76% of carrier reps said they are looking to appoint new agencies
• They like trade shows as the best place to find them
• Top search tools for agents are third-party media outlets and industry associations
• Carriers also use online search engines like Google and Bing to find agents
• 87% of agents could write more business if carriers gave them real-time appetites and quotes that work with their agency management system
• Commissions from carriers aren’t the top desire by agents and agencies
• Superior products, ease of doing business and top-flight customer service ranked one, two and three
• Agents also want carriers providing products with the least amount of questions
• 76% of agencies say they lose business because they can’t find a market quote
• A third of agents writing commercial business want to use carrier portals
• 55% say they use them and that’s up from 50% in 2023

Here are the top carriers from the report in both commercial lines and personal lines:

Commercial lines:

1. The Hartford

2. Auto-Owners Insurance

3. Travelers & Liberty Mutual — tied

4. Progressive

Personal lines:

1. Progressive

2. Travelers

3. Auto-Owners Insurance

4. Safeco

5. Erie Insurance

Source link: Insurance Journal — https://bit.ly/4j80ZLq