Two hundred agency principals or producers from independent U.S. P&C agencies shared their thoughts with Aite Group (an independent research and advisory firm focused on business, technology and regulatory issues) and insurance software and agency management systems provider Vertafore on their optimism, revenue and use of technology tools to support their growth.
The results, some of which are highlighted in the following pages (download the full report) provide a snapshot of producers' feelings as we head into another challenging year in a softening P&C market.
Overall, P&C agencies are less focused on aggressive growth in the next three to five years than they are in maintaining the business they currently have. The majority (57%) say they are hoping for moderate growth. This is particularly true for larger agencies, with the number of those saying they look to aggressively grow falling from 67% in 2014 to just 27% this year.
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