Property-casualty insurers are doing slightly better in their dealing with agents, according to a new report from a firm that advises carriers on how to make it easy for their agents to work with them.
Acton, Mass.-based Deep Customer Connections (DCC) Inc. said in its "2008 Ease of Doing Business Benchmark Report for Property and Casualty Carriers" that insurers have increased their EDB (Ease of Doing Business) Index Scores based on agent ratings throughout the United Sates.
DCC's annual report contains detailed ratings by 7,400 independent agents in 2008, and includes historical data from ratings by 28,000 agents over the past 6 years.
Data in the DCC report is presented in several benchmark groups:
o The Top Ten Carriers
o National carriers
o Large regional carriers
o Midsize regional carriers
o Small carriers
These data show, for example, that the top-rated carriers have the biggest edge in two very different EDB Factors–providing effective technology and acting on agency needs, said DCC.
Data in the report is also broken out by five agent demographics such as line of business and agent role. DCC said this information reveals that agents who focus on commercial lines place more importance on underwriting flexibility while personal lines agents are more concerned about policy services.
"The combination of a large quantitative database along with hundreds of pages of agents' written comments tells a compelling story," said Nort Salz, DCC president. "Once again, agents' ratings emphasize that their buying decisions are based on how easy it is for them to work with a carrier."
"What agents want requires a combination of relationship and transactional excellence," added Paul Croke, DCC co-founder. "Neither technology nor relationship by themselves is adequate."
In addition to the data breakouts, the report includes agents' written comments with commentary by DCC.
While DCC found carriers' ratings moved slightly ahead this year, it said there are still significant opportunities for them to grow their businesses by making it easier for agents to work with them.
The report can be purchased online at HYPERLINK "http://www.deepcc.com/research.html" www.deepcc.com/research.html for $1,295, less a $200 discount if ordered before Dec. 31.
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