Growth without compromise

This research report was originally published in September 2018.

In an era of rapid change and new risks, consumers need a trusted advisor who can guide and advocate for them. They need an independent agent. At Agent for the Future, we’re constantly looking forward to uncover opportunities and challenges that lie ahead for the independent agent channel. By knowing what’s around the corner, we can share actionable insights and develop capabilities that enable you to be an Agent for the Future – one who is not only thriving today but is also continuously evolving to take advantage of new opportunities.

Our latest research uncovered information about how independent insurance agents are adapting to current changes, their predictions for the future and how they are preparing for the future.

By 2020 IAs want to spend more time on new business and less on retention and servicing clients

How IA’s plan to grow in the next 5 years

Increasing cross-sells: 78%
New lead sources: 50%
Adding new producers: 50%
New digital capabilities (mobile, chat): 48%
Increase marketing investment: 38%
New market segments: 31%

Millennials expect customer service 24/7, 365

55%

of IAs surveyed believe that millennials (the largest segment of the pop) will have a major impact on their agency by 2020

27%

of calls to Safeco Gold in 2017 were after business hours

56%

of those surveyed don’t think there is a need for extended hours

Carrier service reps can help customers address emerging risks

30%

of those surveyed believe the sharing economy will have a major effect on their agency by 2020

32%

only 32% are very comfortable selling gap coverage for ride/homesharing

New market segments

67% of IAs surveyed believe change in ethnic makeup will have some effect on their agency by 2020
42% of IAs surveyed don’t think it’s important to speak other languages

Go Confidently in the pursuit of growth

Embrace digital solutions and extend your agency’s potential.

Read the report