In a new survey conducted with more than 250 small commercial agents across the country, analyst firm Novarica has documented the relationship between e-business functionalities delivered through portals and agency management system integration and how this affects agency commissions.
"Convenience, relationship, responsiveness, and speed are the areas most likely to make a carrier the agents' top choice," says Karlyn Carnahan, CPCU, a principal in Novarica's insurance practice who led the research project along with analyst Tse Wei Lim. "While an underwriter relationship may make the difference in whether a carrier is number one or number three for an agent, other factors also are highly correlated with the 'top carrier' position."
The study found agent agency principals and high-value producers show a clear preference for carriers with better portals, reports Carnahan, adding among the functions deemed critical by the agents are quick quote, full quote, and app submission.
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