J.D. Power — Independent Insurance Agents Feel Undervalued

J.D. Power’s 2025 Independent Agent Satisfaction Survey reveals some pain in the independent insurance agent ranks.

• 56% of personal lines agents say the carriers they use are meeting their foundational needs
• 57% of commercial lines agents say carriers they use are meeting their foundational needs

Bad but not as bad as how independent insurance agents view their preferred partners.

• Just 29% of personal lines insurers are rated top tier
• Only 24% of commercial insurers are rated as top tier

J.D Power breaks that last statistic down by saying independent insurance agents write 61% of all property and casualty policies. Yet…….

• 25% of personal likes agents say they don’t believe insurers value them as partners
• Those agents feeling undervalued are four times more likely to write less business with that insurer
• 22% of commercial likes agents say they don’t believe insurers value them as partners
• Those agents feeling undervalued are seven times more likely to write less business with that insurer

Company spokesman, Craig Martin said independent insurance agents are in a very challenging insurance market these days because high rates have more and more people going insurance shopping to save money.

“To do their jobs well and continue to effectively match their clients with the right carrier, agents need to understand the carrier’s risk appetite and priorities to align the right customer with the right policy,” Martin said. “Far too frequently, independent agents aren’t getting the critical information they need to be efficient and effective, which wastes time and resources of both agents and carriers.”

The survey found both personal lines and commercial lines agents want to work with carriers that make working with them easy.

Source link: Insurance Journal — https://bit.ly/3KNJmUw