Channel Harvest Research in 2011 conducted its fourth major project in the Independent Agency System—a comprehensive survey of agents’ attitudes about various aspects of working with insurance carriers.
Despite lingering economic issues and a prolonged soft market, winning insurance carriers in the Independent Agency System are maintaining books of business—and even growing. How are they doing that? In part, these carriers have a keen understanding of what drives placement decisions by their key sales force: independent agents and brokers. They seek out actionable information on agents’ perceptions and priorities. And with that knowledge they can leverage relationships to drive new and renewal business.
Where do insurance companies get authentic information about agent priorities? Internal company surveys are limited: With them, carriers can’t get the perspective of the broader agency community, and don’t see their company vis-à-vis their competitors. Plus, respondents typically are more candid when responding to independent, third-party research.
The 2011 Channel Harvest Survey provided the insight carriers need—and with more candor and objectivity than internal company research.
This study explored specific actions carriers can take to earn more business from agents, by exploring what really matters to them, which carriers are superior in various areas, and exactly what makes them break out from the pack.
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