Range of Products
Average carrier performance 8.04
After enjoying a significant bump in overall average score in 2019, carriers’ performance on product range slipped a bit this year, falling from 8.15 to 8.04. Even so, 18 out of 22 carriers managed to earn a five-star rating in this category.
“Broad appetite” and “close to the broadest range of products we have access to” summarizes the positive feedback brokers offered their carriers. Brokers also praised niche carriers for their specialty offerings: “Love that I can package GL, marine and garage liability,” said one respondent, while another commended a smaller carrier for being “great in personal lines, small business and commercial auto,” despite a limited product availability and appetite.
While most brokers gave their carriers satisfactory ratings in this category, they still had feedback on areas where carriers could improve their product offerings, such as developing clearer underwriting guides, offering better and more consistent umbrella coverage, and providing coverage for recreational vehicles and other ‘toys.’ Other frequent requests included expanding classes of business and range of coverage (“I wish they offered property in every state”), as well as being more creative. One respondent summed it up by saying: “Every carrier can always offer more products over more industries for agents.”