Small-business insurance carriers are grappling with whether to sell directly to consumers over the web, but they're fearful of undermining their existing distribution force.
How might insurers crack the code to sell insurance direct online to small-business consumers without involving an agent or broker, or fend off competitors who go this route?
Agents place their No. 1 priority on retaining and servicing customers, an Accenture survey reports, but these priorities may show a disconnect with the reality of the new competitive, digital landscape.
Anne Arvia was recently named President and COO of Nationwide Direct, Affinity and Growth Solutions, giving her oversight of the Columbus, Ohio-based companys direct P&C sales channel, along with responsibility for specialty-insurance affinity partnerships and Veterinary Pet insurance. She joined Nationwide in 2006 as president of Nationwide Bank before becoming...
The number of agents and brokers selling personal lines insurance is declining, as direct sales by insurers rise and companies seek to create new relationships with customers, according to PricewaterhouseCoopers.
Progressive's March results show direct sales of auto policies up 10 percent compared to the same month last year. Agency-generated auto policies were up 4 percent.