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Jun 10
COVID-19’s Impact on Independent Agencies

COVID-19 forced agencies and their clients to navigate a multitude of disruptions—some temporary, but others that may become more permanent. To fully understand the issues, address them and prepare for the future, both the Agency Universe Study and Best Practices research offer insights into the true impact to the independent agency system and have released special reports on the topic.

The 2020 Agency Universe Study's Covid-19 Impact Summary offers the results of a special addition to the 2020 Agency Universe Study. We asked agencies about financial impact, staffing issues, their preparedness for a remote work environment, how they view the support offered by their carriers, thoughts on moving forward and much more. The summary highlights the top 10 findings from the study and offers additional insight on each. Download a free copy of the summary and see how your agency's experience compares.

The annual Best Practices study provides insight from the top agencies in the country in each of the six revenue categories that have agreed to open their operations and financials to the study. Through extensive questionnaires, interviews, analysis of financials and on-site visits, patterns emerge. With over 3,000 data points this annual research is a valuable measuring and benchmarking tool. In the 2020 Best Practices Study Update, the COVID-19 pull-out provides insight into financial foundations, personnel, customers and a look at what an agency can do to be prepared for future disruptions.

The Agency Universe Study and Best Practices data indicates the coronavirus pandemic has drastically changed our lives and how we do business. If your agency has been impacted, please review the Trusted Choice COVID-19 Relief Fund guidelines and apply today.

From understanding and sharing data on the landscape to financial and recovery resources, the Big “I" has your back. Agency Universe Study and Best Practices questions can be sent to Agent Development staff.


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