A new study from the National Association of Professional Insurance Agents (PIA) has found that small-business owners (SBOs) strongly prefer independent insurance agents when it comes to making their insurance selections, but that those agents must take steps to continue to demonstrate their value as informed advisors and offer digital ease of use.
"Small Business Insurance & The Internet—The Voice of the Commercial Lines Customer," the latest project of PIA and The PIA Partnership, was conducted by PIA's agency-company council and designed to provide independent insurance agents with real intelligence on meeting the new challenges posed by online providers and direct writers.
Among the PIA's findings about what small-business owners want from independent agents:
- In order to be competitive, independent agents must have a full, credible presence online.
- Small business owners most value agents with professional, industry-specific knowledge.
- Most small business owners who shop insurance online still lack confidence in their ability to make ideal insurance choices, and they want help.
- Agents need to sell their value. Without more frequent demonstration of value, alternatives like bypassing the agent by going online will encroach further.
The research showed that even when the insurance process starts online, small-business owners still want to depend on an agent to check and confirm, as well as validate and question assumptions. They overwhelmingly prefer such personal contact throughout the transaction.
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
