Target lost market share with short- and long-term growth strategies
It’s a brave new world for insurance agencies. However, it isn’t the world Aldous Huxley described in his book of the same name. Instead of fewer choices and more standardization, professional, independent insurance agencies are now just one of a growing number of choices for consumers who can connect with carriers through choosing direct writers, exclusive (captive) agents and emerging forms of distribution.
When you look at short- and long-term planning in this environment, remember that any good plan starts with a realistic idea of where you are coming from and a goal—a clear vision of where you are headed. Start by accepting the reality that independent agents have lost market share to direct writers and exclusive agents in the past.
Read the full article in PIA Magazine, written by Matt Masiello, EVP and COO, SIAA— reprinted with permission from PIA Managment Services.