Most insurance agents satisfied with carriers: report
By Paul Wilson
ProWEB Wire (Industry News)
Most independent insurance agents are generally satisfied with insurance companies, according to a new report by the Independent Insurance Agents & Brokers of New York, Inc. (IIABNY).
The Winter 2012 IIABNY Industry Index found that agents views on personal insurance companies and commercial insurers have remained relatively unchanged in the past year.
The Personal Lines Index fell 0.6 points to 74.6, while the Commercial Lines Index rose 1 point to 75.8, the IIABNY said. The index ranks agents’ feelings on a scale of 10 to 100.
Smaller carriers fared better than national carriers, which received the lowest score on the Personal Lines Index, at 71.8. National carriers also received the lowest rating in the Commercial Lines Index, at 73.4.
Regional carriers received an index score of 79.1 on the Personal Lines Index, and scored 77.2 on the Commercial Lines Index. Both were slight improvements over the previous year.
"[The positive feedback] is surprising to me a little bit," said Kathleen Weinheimer, IIABNY’s senior vice president of industry relations and education. "It seems right now there are a lot of issues out in the marketplace that are creating perhaps some tension between agents and their companies. I would have expected more negative numbers at this point."
Of the agents surveyed, 5.69 percent said carriers could help them by eliminating direct writing, while 7.47 percent suggested additional carrier advertising, the survey said.
Other top suggestions included increased underwriting flexibility (7.12 percent) and marketing help (6.76 percent), according to IIABNY.