This original Agent for the Future research report was posted in September 2018.
Safeco Insurance surveyed 600 independent agents around the country to learn more about how they are adapting to current changes, what they think will be important in the future and what they are doing today to prepare for tomorrow.
View the infographic below with key stats you need to know to prepare for the future, read insights from our director of research, and download the full report on our findings of what the future may look like for your agency.
2018 trends
Large and small agencies agree that the roles of CSRs and producers are blurring:
- 75% of agencies under $2.5M agree roles are merging
- 64% of agencies over $2.5M agree roles are merging
IAs are comfortable with new services
…but more IAs need to embrace online account management
- 40% are comfortable
- 38% are somewhat comfortable
- 14% are not comfortable
- 8% don’t want to offer it at all
Agencies are hiring! From 2016 to 2018 …
Producers:
- 25% hired 1
- 20% hired 2>
- 6% hired 3>
- 7% hired 4 or more
Services & Staff Support:
- 27% hired 1
- 15% hired 2>
- 7% hired 3>
- 7% hired 4 or more
58% of all hires are millennials.
Predicted trends
By 2020, IAs want to spend more time on new business and less on retention and servicing clients.
Agents’ strategies for growth
- 78% increasing cross-sells
- 50% new lead sources
- 50% adding new producers
- 48% new digital capabilities (mobile, chat)
- 38% increase marketing investment
- 31% new market segments
Effect on your agency by 2020
The state of agency capabilities
