Personal lines automobile insurers can maximize their revenues by understanding their distribution channels and developing strategies to optimize success, according to a consulting firm's report.
Hartford, Conn.-based Conning Research & Consulting's report, "The Economics of Personal Auto Distribution, Competing in a Softening Market 2007," reviews the history and economics of the personal lines automobile insurance market and discusses strategies to deal with the soft market.
The report notes that independent agent and direct distribution models have kept a pretty constant share of the market at 35- and 65 percent respectively. It warns, however, that advances in Internet sales could change this "and lead to further erosion of the independent agency channel."
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