As we have seen, despite growing interest in digital and other direct experiences available to the personal lines customer, many customers prefer to do business with an agent. Accenture research shows, in fact, that the independent agency channel remains the dominant distribution network for the property and casualty business in the United States.
In part 1 of this series, we discussed steps insurers can take to become a preferred carrier for a larger number of agencies. There is, however, another and equally important course of action for insurers. In their relationships with independent agents, carriers should work to establish a high-performance agency network. By taking action to help their agents think and act strategically about people, processes and technology, carriers can promote their own growth while helping improve agency performance.
Insurers should give attention to these four key areas to build strongn agency networks:
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