There are 36,500 independent agencies in the United States, according to the Independent Insurance Agents and Brokers of America’s (IIABA) “2018 Agency Universe” survey. Despite the big impact of InsurTech, statistics show independent agents are earning a significant portion of insurance business, especially in commercial lines.
In its “21st Market Share Report,” Independent Agent magazine noted that independent agents have maintained stability with clients and are progressing: independent agents held 83% of commercial lines premiums, 35% of persona lines premiums and 31% of the personal auto market.
With the ability to offer a range of products, and in-depth knowledge of various product lines, independent agents are still chosen as the trusted advisor for the majority of insurance clients. How can independent agents build on the market share they already have and strengthen their impact?
Read the full article, written by SIAA CEO Matt Masiello, published March 22, 2019 in The Standard. Reprinted with permission from The Standard, Copyright 2019, Standard Publishing Corporation, Boston, MA. All rights reserved.