Carriers must perform well in the areas most important to agents—the primary distribution channel for small-business insurance
Boston, MA (Oct. 1, 2020) – The small commercial insurance market segment is going to be under greater pressure in the near future as some small businesses close and those that remain open operate under more constrained circumstances. As small-business owners try to navigate these challenging times, it is likely that agents can be a strong partner in helping them secure the best coverage at the best price. Should carriers pay more attention to what agents are saying about their performance?
This Aite Group report showcases the findings from a survey of 56 independent and captive small commercial insurance agents in the United States that Aite Group conducted with the assistance of Competiscan, a Chicago-based firm that interacts heavily with agents to aggregate carrier marketing material, from March to May 2020. It endeavors to gauge agents’ opinions on how their carriers perform on various functions and how those opinions influence where agents place their business.
This 78-page Impact Report contains 65 figures and 20 tables. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
Click here for the online summary or to download the table of contents.
This report mentions Acuity, AIG, Allstate, American Family, American Financial, AmTrust Group, Assurant, Auto-Owners, Berkshire Hathaway, Chubb Ltd., Cincinnati, CAN, Employers’ Mutual, Erie Insurance, Farmers Insurance Group, Hamilton, Hanover, Hiscox, Liberty Mutual, Nationwide, Progressive, QBE, Selective, Sentry, State Auto, State Farm, The Hartford, Tokio Marine Holdings, Travelers, USAA, W. R. Berkley, XL Group, and Zurich Insurance Group.
About Aite Group
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.
Source: Aite GroupTags: AIG, Aite Group, Allstate, American Family Insurance, Berkshire-Hathaway, Chubb, commercial lines, Erie Mutual, Farmers Insurance, Hanover, Hiscox, independent agents, Jay Sarzen, Liberty Mutual, Nationwide, Progressive Insurance, QBE, small business, State Farm, The Hartford, Travelers, USAA, XL Group, Zurich