Independent agents’ satisfaction with carriers has surged as industry changes have placed a renewed focus on the independent agent channel, according to a new study by J.D. Power.
J.D. Power’s 2021 U.S. Independent Agent Performance and Satisfaction Study, developed in partnership with the Independent Insurance Agents & Brokers of America, evaluated the role of independent agents in property-casualty insurance distribution, general business outlook, management strategy and overall satisfaction with personal and commercial lines insurers in the US.
“During the past year, some of the industry’s most notable acquisitions and operating model investments have thrust the independent agent channel back to the forefront, resulting in improved agent-carrier relations,” said Tom Super, head of P&C insurance intelligence at J.D. Power. “While carriers still have a long way to go, independent agent satisfaction with carriers has reached an all-time high, with many agents citing better communication with carriers, improved servicing levels and higher satisfaction with digital tools.”
Key findings of the study include:
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Erie Insurance ranked highest in overall satisfaction among personal lines insurers, with a score of 857. Auto-Owners Insurance (835) placed second and Safeco (761) ranked third.
Auto-Owners Insurance ranked highest among commercial lines insurers for overall satisfaction with a score of 838. The Hartford (777) ranked second and Liberty Mutual (760) ranked third.