X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
“The [2020 Agency Universe Study] uncovered some key areas in which independent agencies need further support, including finding new business opportunities and offering digital tools and servicing,” said Madelyn Flannagan of the Big “I” in a press release. (Photo eamesBot/Shutterstock)
One-quarter of independent insurance agencies saw significant changes to their operations, revenue and commercial lines customers base during the COVID-19 pandemic, a new study reveals.

The 2020 Agency Universe Study, produced by Future One, a cooperative effort of the Independent Insurance Agents & Brokers of America (Big “I”) and leading insurance agencies, examines agency revenue trends and agency technology use, marketing strategies, and carrier relationships. For 2020, the survey was modified to include questions related to the coronavirus pandemic. The results from these questions were recently published by the Big “I” in its COVID-19 Impact Summary.

“Independent agents and brokers emerged as truly essential anchors in their communities during the challenges of 2020, helping their clients and neighbors find security and peace of mind even as they themselves were impacted by the uncertainties,” said Bob Rusbuldt, Big “I” president & CEO, in a statement. “The 2020 Agency Universe Study highlights how agencies can best tackle the continues obstacles and trends in the post-COVID world.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

More from this author

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.