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FCCI Insurance Group Names Cina Welch, Esq. as President & CEO

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FCCI Insurance Group Names Cina Welch, Esq. as President & CEO

SARASOTA, Fla.  – The FCCI Insurance Group board of directors is pleased to announce its selection of Christina ‘Cina’ Welch as president & CEO.

Welch began her career with FCCI in 1998 as attorney in the legal department and has held varied and progressively complex roles during her tenure, taking on the role in 2018 of executive vice president, general counsel, and chief audit & compliance officer.

“We are delighted to welcome Cina to her new role with FCCI,” said Jack Cox, FCCI’s chairman of the board. “We were fortunate to have a number of exceptional internal candidates. We feel confident in our decision and look forward to what Cina’s leadership will bring to FCCI in the coming years.”

Welch’s many accomplishments include the development of FCCI’s Data Security Incident Response and Information Security programs; building a robust Enterprise Risk Management program; managing FCCI’s Business Continuity Management program – including the corporate COVID-19 response; and leading the company’s geographic expansion efforts.

She is passionate about FCCI’s enduring corporate culture and is enthusiastic and optimistic about FCCI’s future. Welch is particularly grateful for the relationships the company has built with its agency partners and policyholders, noting that it is FCCI’s commitment to the success of its agency partners as well as its dedication to exceptional customer service that distinguishes FCCI in the insurance industry.

“I am well aware that FCCI’s marketplace success is dependent on the success of our independent agencies and policyholders. Our focus will continue to be – as it has been for more than 60 years – helping our agents and policyholders be successful,” Welch said. “To my teammates and FCCI’s agency partners, I would like to thank them in advance for their trust and support. I am so honored to be in this position – to have been offered this role – and am very excited for our future.”

View more FCCI news here.

As Economy Reopens, Findings From the 2020 Liberty Mutual Workplace Safety Index Help Employers Improve Safety To Better Protect and Engage Workers

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As Economy Reopens, Findings From the 2020 Liberty Mutual Workplace Safety Index Help Employers Improve Safety To Better Protect and Engage Workers

The findings of the latest Liberty Mutual Workplace Safety Index can help companies restarting and adapting operations better manage and mitigate risk by focusing efforts to improve safety on the leading causes of the most serious workplace accidents, those causing an employee to miss more than five days from work.

“Improving safety is critical to better protecting workers and companies’ bottom-lines,” said Liberty Mutual National Insurance Risk Control Vice President and General Manager James Merendino. “Effectively doing so requires employers – working with their brokers and insurers – to focus on the causes of the most serious injuries. By delivering this information, the Workplace Safety Index can play a key role in guiding efforts to improve safety at this critical time.”

The ten most costly causes of workplace injuries and illnesses according to the 2020 Liberty Mutual Workplace Safety Index can be seen here.

As Economy Reopens, Findings From the 2020 Liberty Mutual Workplace Safety Index Help Employers Improve Safety To Better Protect and Engage Workers

This year’s Index also includes findings by specific industry.

Now in its 20th year, the Index identified two interesting trends over that time:

  • The overall number of serious workplace injuries has decreased, while medical costs have increased above overall inflation
  • Overexertion and Falls on same level have been the consistent top two injury causes

IDG Insider Pro and Computerworld Name Liberty Mutual Insurance to 2020 List of “100 Best Places to Work in IT”

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IDG Insider Pro and Computerworld Name Liberty Mutual Insurance to 2020 List of “100 Best Places to Work in IT”

BOSTON – Liberty Mutual Insurance is proud to announce that it ranks No. 44 among large organizations on IDG’s Insider Pro and Computerworld’s annual Best Places to Work in IT list. The list, which annually highlights the 100 top organizations that challenge their IT staffs while providing great benefits and compensation, selected Liberty Mutual based on results received from the 2020 Best Places to Work in IT survey.

“This incredible recognition from Insider Pro and Computerworld reinforces the work we are doing to become a top destination for technology talent,” said Liberty Mutual Insurance Executive Vice President and Chief Information Officer, James McGlennon. “By offering employees exciting career opportunities, and the benefits and flexible work environment they need to be successful in their personal and professional lives, we will continue to build the innovative culture needed to succeed in today’s global marketplace.”

Liberty Mutual’s technology team is focused on delivering immersive and secure experiences for employees, customers, agents, and brokers using cloud-native technology, scalable microservice architecture, and next-wave software delivery methods. The 5,000-person technology organization is a driving source of innovation for the company – combining a start-up mindset, agile methodologies and emerging technologies at every stage to deliver products and services that meet, shape, and anticipate customer needs.

“As technology continues to evolve more rapidly than ever, attracting and retaining top IT talent to research, deploy and maintain that technology has never been more important or more challenging,” said editor of IDG’s Insider Pro, Dan Muse. “Companies that have earned a spot on the Insider Pro and Computerworld 2020 Best Place to Work in IT list share a common denominator: They create an environment that not only rewards workers with competitive compensation and benefits, but they also foster a spirit of diversity, social responsibility, training and innovation.”

Ryan Specialty Group and All Risks Sign Definitive Agreement to Merge

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Ryan Specialty Group and All Risks Sign Definitive Agreement to Merge

CHICAGO, IL – Ryan Specialty Group, LLC (RSG) and All Risks, Ltd. (All Risks) are pleased to announce they have signed a definitive agreement to merge. The two firms are insurance specialists with strengths that complement one another. Both have proven track records of excellence in transactional wholesale distribution and managed underwriting businesses in the form of managing general underwriters, programs and delegated binding authorities. RSG is headquartered in Chicago, IL and All Risks in Delray Beach, Florida; each entity has a national US footprint complemented by RSG’s European operations.

Patrick G. Ryan, Founder, Chairman and CEO of RSG, remarked, “We are pleased to join with a company that has an outstanding culture, exceptional talent and is a strong strategic fit with Ryan Specialty Group. We both have established ourselves as leading participants in the specialty insurance distribution sector. RSG has always admired the high quality of talent at All Risks and their very strong management teams, led by Nick Cortezi and Matt Nichols. Both Nick and Matt will continue in senior executive roles. Because of the similar cultures, long term strategy, and high quality of people, together, the resultant blended firm will create an even stronger, enhanced trading partner with a broader offering of services for our clients and insurance carriers. The opportunities for our employees are even more robust by the merging of our two firms. I’m very bullish on our future together and the additive value that we will bring to the industry.”

Nick Cortezi, CEO of All Risks, commented, “We could not be more excited to join forces with RSG. Over the past decade, both All Risks and RSG have invested significantly in developing the talent, the tools, and the resources necessary to provide opportunity to our people and exceptional service to our clients. Our strengths are complementary. In coming together to form one unified company, we are positioning ourselves to the greater benefit of our employees, our retail partners, and our carrier partners. Matt Nichols and I have known and admired Pat Ryan and Tim Turner for many years. We and the All Risks leadership team look forward to working with them and supporting them in the years to come.”

Ryan Specialty Group is celebrating its 10th anniversary in 2020 and consists of RT Specialty, a wholesale brokerage firm, and RSG Underwriting Managers, a specialty underwriting organization within which there are 21 specialized managing general underwriters. RSG is approaching $12 billion in premium in 2020.

Formed in 1964, All Risks has grown from a one office excess and surplus lines brokerage facility to a national wholesale broker, managing general agency, and program administrator. Over the past 30 years, continued reinvestment in talent has resulted in an 18% average annual organic growth rate. With offices across the country and over 850 employees, All Risks is projecting $2.6 billion in premium in 2020.

Terms of the transaction were not disclosed.

J.P. Morgan served as sole M&A Advisor to Ryan Specialty Group. J.P. Morgan, Barclays, and BMO Capital Markets served as Financial Advisors to Ryan Specialty Group.

Reagan Consulting served as M&A Advisor to All Risks.

About Ryan Specialty Group, LLC

Founded in 2010, Ryan Specialty Group, LLC is a leading international specialty insurance organization which includes a wholesale brokerage firm and highly specialized managing general underwriting companies designed specifically for brokers, agents and insurers. ryansg.com

About All Risks, Ltd.

Formed in 1964, All Risks has grown from a one office excess and surplus lines brokerage facility to a national wholesale broker, managing general agency, and program administrator. With offices across the country and over 850 employees. allrisks.com

Amalgamated Life Insurance Company Announces a Rebrand to Better Reflect a Family of Companies

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Amalgamated Life Insurance Company Announces a Rebrand to Better Reflect a Family of Companies

WHITE PLAINS, N.Y. – Amalgamated Life Insurance Company (www.amalgamatedbenefits.com), a leading provider of comprehensive insurance solutions, announced that it and its affiliated companies have completed a rebranding initiative designed to better reflect the “Amalgamated Family of Companies” and leverage the brand equity in the flagship company’s name, “Amalgamated.”

Under the umbrella of the Amalgamated Family of Companies, which will use the tagline, From Insurance & Benefit Administration to Care Management, the rebrand resulted in name changes and new taglines assigned to certain family member companies. They are as follows: the third party administrator’s name is changing from AliCare to Amalgamated Employee Benefits Administrators using the tagline, Delivering High Quality, Customized TPA Services and the medical care management firm, AliCare Medical Management, will be known as Amalgamated Medical Care Management, Quality Clinical Advice & Care. The organization’s printing firm will continue operating as AliGraphics, One Resource for All Your Printing & Promotional Needs and its property and casualty broker will remain Amalgamated Agency. As for Amalgamated Life Insurance Company, its tagline will continue to be Group Stop Loss Voluntary.

President and CEO Paul Mallen stated, “Our organization has grown considerably from the single entity, Amalgamated Life Insurance Company founded in 1943, to what is now a family of companies offering complementary products and services designed to advance our mission of helping working people and their families achieve financial security by offering high quality insurance products, as well as providing third party administrative services and medical care management services to benefit both working people and plan sponsors. While we were using the Amalgamated Family of Companies as an umbrella branding tool, our companies’ names did not readily reflect this. The new names and taglines denote our aligned business units and convey the unique value proposition we, as a family of companies, offer to the market.”

Led by John Thornton Executive Vice President of Sales and Marketing and Executive Director Erin Linney, the rebranding project was conducted over the past several months and involved the revision of company websites, creation of new marketing materials, signage, print advertisements, and other collateral materials, as well as company name changes in all 50 states and the District of Columbia, where the company is licensed to market its products and services.

About Amalgamated Life Insurance Company

Founded in 1943, Amalgamated Life Insurance Company has since grown into a leading provider of comprehensive insurance solutions operating in all 50 states and the District of Columbia. The Company provides competitive group products including Group Term Life, Medical Stop Loss, Group Disability and Specialty Drug Cost Management, as well as voluntary products such as Accident, Accidental Death & Dismemberment, Critical Illness, Dental, Disability, Hearing, ID Theft, Legal, Portable Term Life and Whole Life, among others. Since 1975, Amalgamated Life Insurance Company has consistently earned the “A” (Excellent) Rating from A.M. Best Company attesting to its strong fiscal position. The Amalgamated Family of Companies is comprised of: Amalgamated Life Insurance Company, Amalgamated Employee Benefits Administrators, Amalgamated Medical Care Management, Amalgamated Agency, and AliGraphics. For more information, visit: www.amalgamatedbenefits.com.

AmTrust Launches New Commercial Crime Product

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AmTrust Launches New Commercial Crime Product

AmTrust Launches New Commercial Crime ProductNEW YORK, – AmTrust Exec, a division of AmTrust Financial Services, Inc. offering a full suite of management liability products, announced that it has introduced a new Commercial Crime product to provide coverage for a wide range of medium-and large-sized businesses. Melissa Schwartz joined AmTrust in January 2020 from Euclid Exec to lead their Commercial Crime product offering. Previously, Schwartz was the Fidelity and Crime Product Leader with Liberty International Underwriters.

The monoline Commercial Crime product covers loss from employee and third-party theft of money, securities and other property, including:

  • Employee Theft (without manifest intent)
  • Computer and Electronic Funds Transfer Fraud
  • Fraudulent Impersonation
  • Clients’ Property

AmTrust Exec is a new division that was formed in January 2020 when AmTrust’s Corepointe Insurance Agency acquired Itasca, Illinois-based Euclid Executive Liability Managers, LLC. The division offers products such as Directors & Officers Liability, Employment Practices Liability and more, including the new Commercial Crime policy.

AmTrust Exec Senior Vice President James Seymour, formerly Principal of Euclid, said, “In this new age of cybercrime, we are finding that businesses are facing never-before-seen threats as criminals find ways to impersonate employees electronically and hack into accounting systems to misdirect funds. This new product is designed to protect against these kinds of sophisticated new schemes, as well as simple petty theft.

AmTrust Exec provides coverage for a wide range of sectors including Manufacturing, Non-Profit, Oil & Gas, Retail, and Telecommunications.

AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers’ compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com.

Risky Business: Lack of Risk-Based Conversations Hinders Retirement Readiness

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Risky Business: Lack of Risk-Based Conversations Hinders Retirement Readiness

MINNEAPOLIS – As Americans evaluate their finances during these challenging times, many financial professionals may be missing opportunities to shift conversations about retirement from accumulation to protection. The new 2020 Retirement Risk Readiness Study from Allianz Life Insurance Company of North America (Allianz Life) surveyed three categories of Americans to get different perspectives on retirement: pre-retirees (those 10 years or more from retirement); near-retirees (those within 10 years of retirement); and those who are already retired. The findings reveal gaps in conversations with financial professionals that can help clients protect their retirement assets from some of the risks that can derail savings strategies.

Although people who have already retired are fairly confident about how long their money will last, six in 10 non-retirees said running out of money before they die is one of their biggest concerns. But unfortunately, only about a quarter (27%) of non-retirees who work with a financial professional have discussed this aspect of longevity risk and less than 15% have shared their concerns that they won’t have enough money to do the things they want in retirement.

As it pertains to saving for retirement, many non-retirees seem to understand steps they need to take, but aren’t following through. More than half (55%) of non-retirees said they are worried they won’t have enough saved for retirement and nearly one-third (31%) say they are way too far behind on retirement goals to be able to catch up in time. Yet only 12% said setting long-term financial goals is their top priority and merely 6% identified developing a formal plan with a financial professional as their top priority.

“These responses show there may be a reluctance or lack of opportunity for clients to share the concerns they worry about most in the conversations they are having with their financial professionals,” said Kelly LaVigne, vice president of Consumer Insights, Allianz Life. “Financial professionals may need to be more proactive in discussing these issues and find ways to make clients share more openly so we can develop appropriate solutions.”

Impacts of market volatility

Americans also have significant anxiety about the effects market volatility can have on their retirement savings. Even prior to this current period of extreme market volatility, both retired and non-retired people noted market risk as a top concern, with nearly half (49%) of all respondents identifying a stock market drop as the greatest threat to their retirement income.

Despite this fear of a market downturn that could damage their accounts, less than 30% of Americans who work with a financial professional said they had discussed risks to their retirement arising from market drops, including only 22% of those within 10 years of retirement.

“Although market volatility is top of mind right now, it seems surprising that discussions about volatility and ways to mitigate that risk don’t happen with regularity,” noted LaVigne. “It’s important that we continue to discuss different options for protecting against market volatility with clients, even during times when markets are performing well.”

Addressing the rising cost of living

Inflation is also a key concern, with nearly half (48%) of Americans viewing inflation as a threat to their ability to afford basic expenses in retirement. More than half (59%) also said they are worried that the rising cost of living will prevent them from enjoying their retirement, with the greatest concern (67%) coming from those 10 years or more from retirement (versus 59% for near-retirees and 40% for retirees).

Yet, among those who work with a financial professional, only around two in 10 are having discussions about the impact of inflation and how it can prevent them from enjoying their retirement.

“Simply put, we need to ask ourselves as financial professionals how we can move conversations about retirement beyond accumulation strategies to focus more on how to protect a client’s hard-earned savings from retirement risks that may jeopardize their financial future,” added LaVigne. “It’s crucial that we acknowledge the different challenges that are keeping clients up at night and build these risk-based discussions into the regular planning process.”

*Allianz Life conducted an online survey, the 2020 Retirement Risk Readiness Study, in January 2020 with a nationally representative sample of 1,000 individuals age 25+ in the contiguous USA with an annual household income of $50k+ (single) / $75k+ (married/partnered) OR investable assets of $150k.

About Allianz Life Insurance Company of North America

Allianz Life Insurance Company of North America, one of the FORTUNE 100 Best Companies to Work For® and one of the Ethisphere 2020 World’s Most Ethical Companies®, has been keeping its promises since 1896 by helping Americans achieve their retirement income and protection goals with a variety of annuity and life insurance products. In 2019, Allianz Life provided additional value to its policyholders via distributions of more than $10.4 billion. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with over 147,000 employees in more than 70 countries. Allianz Life is a proud sponsor of Allianz Field in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.

EMC Lansing Branch Recognized as Corporate Partner of the Year by Capital Area United Way

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EMC Lansing Branch Recognized as Corporate Partner of the Year by Capital Area United Way

DES MOINES, Iowa —Capital Area United Way in Lansing, Michigan recognized EMC Insurance Companies’ Lansing Branch Office as their 2019 Corporate Partner of the Year. The announcement was made live during Capital Area United Way’s virtual Volunteer of the Year Awards event on June 15, 2020.

“The people of EMC Insurance ask how they can help. Through United Way and on their own, they are constantly seeking to connect their talent and resources with those in need in our community,” said Merry Donn, Capital Area United Way Fund Development Associate. “They were the primary force behind the creation of the annual United Way Diaper Drive and have supported it ever since. They give generously in the annual giving campaign. When they were in the midst of a hectic relocation of their offices, they took the time to sort and donate all of the equipment and materials they no longer needed. It would have been far easier to throw it all away. But, that’s not how the people of EMC Insurance work.”

The branch’s United Way efforts are led by a Volunteer Committee of five team members, who also organize an annual food and donation drive for a local food bank at Thanksgiving. Underwriting Associate Kennedy Kebler has served on the Committee for five years, leading it for the past four years.

She attributes their success to the branch’s culture of giving. “Our leadership encourages our Volunteer Committee, and the greater team, to make our charitable work as much of a priority as our actual work. People here step up to help even when they’re not asked,” said Kebler.

Derek Bleil, Resident Vice President, added, “We are so proud that our commitment to bettering our community has been recognized by Capital Area United Way, and we will use this recognition to motivate us for another great campaign this fall.”

Western National Insurance Group Announces 2020 Scholarship Recipients

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Western National Insurance Group Announces 2020 Scholarship Recipients

(Minneapolis, Minn.) Western National Insurance Group today announced that its Scholarship Committee has selected the following eight applicants to receive merit-based college scholarships worth $3,000 each for the upcoming fall term: Alison Benz (Wabasso, Minn.), Benjamin Cartford (Stacy, Minn.), Madelynn Dostal (Carlton, Minn.), Ellen Fricker (Brookfield, Wisc.), Lauren Hermann (Grantsburg, Wisc.), Jacob Loosen (Hartford, Wisc.), Madison Smith (Woodinville, Wash.), and Blayre Wisneski (Shakopee, Minn.).

Alison Benz (Wabasso, Minn.), daughter of Nichole and Brett Benz, will be a senior this year at the University of South Dakota (Vermillion, SD) studying Mathematics and Business Analytics. In school, Alison has been a member of the USD Math Club and SERVE, USD’s volunteer organization. Outside of school, she has spent time as a math tutor and a leader in Fellowship of Christian Athletes.

Alison’s father, Brett, works in the Claims Department at Western National.

Benjamin Cartford (Stacy, Minn.), son of Julie and Chuck Cartford, will be a sophomore this year at the University of Minnesota, Twin Cities, studying Biology and Philosophy. In school, Benjamin has been a member of the University of Minnesota’s Chess Club and the Philosophy Club. Outside of school, he leads a Community Chess Club, and recently organized a food collection to benefit those made vulnerable by the COVID-19 pandemic.

Benjamin’s mother, Julie, is a Western National agency partner at Alliance Insurance Advisors in White Bear Lake, Minn.

Madelynn Dostal (Carlton, Minn.), daughter of Jennifer and Andrew Dostal, will be a freshman this year at George Washington University (Washington, D.C.) studying International Affairs and Economics. In school, Madelynn has served as President of the National Honor Society and captain of the varsity swim, track and field, and alpine ski teams, respectively. Outside of school, she has been involved in the Minnesota House of Representatives High School Page Program and has acted in performances with New Wine, a ministry drama group.

Madelynn’s mother, Jennifer, is a Western National agency partner at Reliable Insurance Agency in Cloquet, Minn.

Ellen Fricker (Brookfield, Wisc.), daughter of Tracey Moran-Fricker and Matthew Fricker, will be a freshman this year at University of Wisconsin, Madison studying Industrial Engineering. In school, Ellen has served as an officer and leader of the Campus Ministry Council, was a member of the student council, and participated in the theater program. Outside of school, she has volunteered with Children’s Hospital Respite Care and has performed with Acts 17:28 Dance and the Prep Players theater program.

Ellen’s mother, Tracey, is a Western National agency partner at Robertson Ryan & Associates in Milwaukee, Wisc.

Lauren Hermann (Grantsburg, Wisc.), daughter of Jeff and Janelle Hermann, will be a freshman this year at University of Wisconsin-Madison studying Marketing and Psychology. In school, Lauren has held officer positions for Student Council, was a member of the National Honor Society, and served as manager of the football team. Outside of school, she has served as group leader for Vacation Bible School and took part in a mission trip through her church.

Lauren’s father, Jeff, is a Western National agency partner at Hermann Insurance Services, Inc. in North Branch, Minn.

Jacob Loosen (Hartford, Wisc.), son of Cindy and Michael Loosen, will be a sophomore this year at University of Minnesota, Twin Cities, studying Strategic Communications, Psychology, and Public Health. In school, Jacob has been a member of the University of Minnesota Running Club and has been involved with the Student Marketing Association. Outside of school, Jacob has volunteered his time for various charitable organizations and has been involved with The Hartford Players Summer Musical.

Jacob’s mother, Cindy, is a Western National agency partner at Robertson Ryan & Associates in Milwaukee, Wisc.

Madison Smith (Woodinville, Wash.), daughter of Shauna and Jeremy Smith, will be a freshman this year at Santa Clara University (Santa Clara, Cali.) studying Business. In school, Madison has served as Jump Team Captain for the track and field team and was a member of both the National Honor Society and DECA. Outside of school, she has participated in mission trips to build houses in Tijuana, Mexico and volunteered with the Youth Migrant Project.

Madison’s father, Jeremy, is a Western National agency partner at HUB International in Bothell, Wash.

Blayre Wisneski (Shakopee, Minn.), daughter of Julie and Gene Wisneski, will be a freshman this year at Luther College (Decorah, Iowa) studying Neuroscience and Spanish. In school, Blayre has performed with the jazz band, volunteered with SADD, and served as a Student Ambassador of Shakopee. Outside of school, she has served as Youth Representative and as Secretary of the Shakopee Community Education Advisory Council.

Blayre’s mother, Julie, works in the Customer Relationship Center at Western National.

Scholarships are available annually to eight eligible, college-enrolled children of Western National Insurance Group partner agents and employees in the Group’s states of operation. Applications are judged on a variety of criteria (including academics, curricular and extra-curricular activity participation, a letter of recommendation, and an essay), with students’ identifying information hidden from the judges to ensure the integrity of the scoring process.

“It is our pleasure to award these scholarships to such a talented and accomplished group of students,” said Stuart Henderson, Chief Executive Officer. “These eight young men and women have proven themselves to be extremely hard-working students, leaders among their peers, and highly active participants in the communities where they study and live. They represent a very bright future, and we hope you will join us in congratulating them as our ‘Class of 2020.’”

Western National Insurance, headquartered in Edina, Minn., is a super-regional group of property-and-casualty insurance companies providing personal and commercial coverage in 20 states across the Midwestern and Western U.S. as well as in Alaska; and surety bonds in 32 states. The Group writes over $717 million in Direct Premium through eight active insurance companies—Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Western Home Insurance Company, Arizona Auto Insurance Company, Umialik Insurance Company, American Freedom Insurance Company, and Nevada General Insurance Company—and through one affiliate, Michigan Millers Mutual Insurance Company. All of the Group’s products are sold exclusively through professional Independent Insurance Agents.

Independent Agents Divided on Digital Experience

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Independent Agents Divided on Digital Experience

SPRINGFIELD, Va. – The annual survey of independent insurance agents from Channel Harvest Research shows insurance at a crossroads when it comes to ease of doing business and a divergence between agents who value the personal touch and those who promote self service.

Nearly 2,000 agency staff — from principals to producers to CSRs — participated in the survey between February and April, answering over 100 questions about their carrier relationships and trends in the insurance marketplace. Analysis of their answers yielded Channel Harvest’s exclusive carrier rankings and ratings, statistics on agency growth, and how agencies are preparing for a digital future dominated by younger generations.

“What stands out is a divide between agents who are intentional about making insurance more like an Amazon purchase and those who prefer to offer a personal transaction,” says John Campbell, principal of Channel Harvest Research. “For example, only half of agents reported having a mobile-friendly website and 20% aren’t sure what kind of website they have.”

Being visible when a consumer is searching online for a product or service is almost an imperative, yet the survey revealed large numbers on both sides of the digital divide. Among the 88% of respondents whose agencies have a website, 42% say their firm uses search engine optimization (SEO), while nearly one-third do not implement SEO, and 17% are not sure.

Self-service was another big differentiator, as over half of respondents said they do not offer customers the ability to purchase a policy, add a vehicle, change a deductible or change or add coverages.

“Carriers are also an important part of the self-service equation, as they will have to consider if they should push these solutions to agents or let agents decide what they want to do,” said Campbell.

Fewer than 10% of agents said they have their own technology allowing customers to purchase a policy, add a vehicle, change a deductible or change or add coverages. However, a larger number — nearly one-third — have their own technology for allowing prospective customers to get a quote online.

“A common refrain is insurance is behind other consumer services when it comes to convenience, and the survey data confirms that,” says Campbell.

This is the 13th annual Channel Harvest survey of independent agents. Most responses were collected before the effects of the COVID-19 pandemic were felt. Channel Harvest also pulsed agents on the effects of the pandemic on their firms, and a summary is available here.

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