60% of Direct Buyers Eventually Return to Independent Agents: Study

August 19, 2013
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Most customers who are lured away from independent agents by direct insurers promising lower prices will ultimately return to an independent agent. According to a recent study commissioned by The Hanover Insurance Group, nearly 60 percent of consumers who had purchased insurance through a direct channel 10 or more years ago reported switching back to an independent agent because they wanted more value.

This study was conducted for Hanover, an independent agency company, by the research firm InsightExpress, which surveyed 1,000 consumers who purchased insurance through direct channels 10 or more years ago.

Most consumers who switched back to independent agents cited expertise and convenience for their decision. According to the survey, the motivators for consumers who switched to work with independent agents also included the benefits of having one point of contact to handle insurance needs and questions and having the guidance of an experienced personal insurance professional.

“The majority of respondents said their number one reason for switching from a direct insurance provider was to have someone to guide them through their insurance buying decisions,” said Mark R. Desrochers, president, personal lines insurance at The Hanover. “Clearly trust and expertise are important to consumers.”

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Insurance Journal West August 19, 2013
August 19, 2013
Insurance Journal West Magazine

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