Dr. Hartwig discussed the state of the industry and what it means for the independent insurance agent today, as well as privately sat down with us to explain industry trends.
What are the biggest issues facing insurance agents?
The largest issue is our industry’s increase in distribution channels which causes more competition for the independent agent. Direct channel competition with aggregator sites, such as Google, also provide more outlets for consumers to shop around. Hartwig does describe that individuals are more willing to work with agents if they communicate with their clients the way they want to be communicated with. This meaning agents need to expand their communication repertoire through technology and social media.
Advantage of joining a network?
Networks, such as ANE, expand the depth of an agency’s capacity without an income loss. Independent agents who join a network can satisfy a larger range of clients they normally would not be able to on their own.