The 2018 Independent Agent Study: Agents speak out on carrier relationships, challenges and their future plans (VIDEO)

In 2017, NU forged an alliance with the National Association of Professional Insurance Agents (PIA) and Flaspöhler | NMG to conduct the inaugural Independent Agent Study — a research project designed to annually take the pulse of independent Property & Casualty insurance agents throughout the U.S. and provide revealing insight into the demographics, books of business and challenges they face, and reveal their most highly rated carrier partners.

Flaspöhler has long conducted its own larger annual study of agents (the Flaspöhler | NMG Producer Study) on behalf of key P&C carriers, which use the results to help them best meet agent needs. Flaspöhler distributes the expanded questionnaire to NU's proprietary lists of independent agents nationwide as well as PIA's national membership (in return for the exclusive right to publish highlights of the findings), resulting in the most reliable and scientifically sound sample available.

Among the insights gleaned this year: The exodus of talent on the agency side remains concerning. Forty-five percent of our independent-agent study respondents, most of them principals or owners, said they planned to retire in the next nine years.

Only about 1 in 4 (24%) of PIA members who responded said their insurance carrier relationships were improving; 19% said their relationships had declined.

Despite 56% being armed with agency smartphones, only 41% of respondents said they can provide quotes to prospects while out in the field.

The data included in the study are extracted from Flaspöhler's larger research study (upward of 300 pages), which the firm makes available to rated P&C commercial lines carriers. (Contact rick.flaspohler@nmg-group.com for more information.)

Stay tuned to PropertyCasualty360.com throughout the month as we share the findings of this in-depth study of America's independent agents.

To kick things off, let's have a look at who responded to the study, and what they said would improve their relationships with the carriers they do business with. Watch the video below!