Consumers and insurance agents view things differently, according to a recent study. Personal lines buyers, 87 percent of those polled, want 24-hour customer service from their carrier, and 85 percent say having professional standards for agencies is important. Additionally, 59 percent of personal lines consumers want online access to their account information. Only one-third of agents polled believe these same standards are important.
These discrepancies between what agents and consumers view as important were just a few of the compelling findings from a recent branding study undertaken by the Independent Insurance Agents of America. The study, conducted by Addison, a San Francisco-based branding and communications firm, examined a variety of issues that could affect independent agents’ market share, including purchase and service preferences, understanding of the independent agency channel, and logo recognition.
More than 600 personal and small commercial consumers, agents, company executives and industry professionals were surveyed for the research. The study results are being used as the basis for IIAA’s branding initiative.
The study also found the top four factors consumers named as important influences in purchasing insurance-competitive pricing, advocacy in claims disputes, customized policies and one-stop shopping for all insurance needs-could be effectively delivered by independent agents, often better than through other channels.
Was this article valuable?
Here are more articles you may enjoy.