Summary
A recently released 2010 Insurance Agency Satisfaction Study for personal lines business points out that individual policyholders are more likely to be loyal to their independent agents than to the insurers who write their coverage. The study also found that insurers whose agents are highly satisfied tend to receive a considerably greater share of business from those agents. In addition, 77% of satisfied agents say they intend to increase business with an insurer, while only 24% of less satisfied agents say the same. Now in its second year, the study measures the satisfaction of independent insurance agents and agency staff with the personal property and casualty insurance companies they represent. The authors say the good news is that 39% of the agents surveyed are very satisfied with the technology delivered by their carriers. However, 50% rated their comfort level as somewhat satisfied, which argues that not all needs are being fully met and that there is opportunity for differentiation.
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Extract
Surveys Assess Agent Satisfaction with Insurers
After the colorful Ed Koch was elected mayor of New York City, he would often begin his speeches with the question: "How'm I doing?" He also used this catch phrase with people he met while walking the city's streets or riding the subways. It was his way of letting New Yorkers know that they had elected a down-to-earth mayor who really cared about their opinion.
A recently released 201...See the full content of this document
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