If it can be said that a critical step on the road to success is adjusting one's own expectations, Dan Wolfgram, executive vice president in Personal lines, marketing and communications at Waukesha, Wis.-based R&R Insurance Services, has a clear message for producers who might be laboring under an unrealistic view of Personal lines performance.
"If agents think they are going to grow Personal lines business by rate [increases], particularly in auto, it's not going to happen," he says.
Indeed, Personal lines premiums have seen only small (2% to 3%) increases for longer than most agencies care to remember. But if a lack of major catastrophes in the past year is a factor, analytics-driven pricing precision on the part of insurers is the larger component of a continued competitive climate.
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