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Jan 22
Is Insurance a Commodity? The VU Says No

While the term “commodity” has various meanings, it is the “mass-produced, unspecialized” definition that creates an ever-growing debate within the insurance community.


In one camp are various marketing and economic experts who argue that insurance products have reached a level of standardization—or at least consumer perception of such—that independent agents can no longer bring enough value to the transaction to either produce useful advice or generate sufficient income. Firmly on the other side stands the Big “I” Virtual University (VU)—anchored in the solid realities of coverages and claims.


Any agent or insurance professional who wishes to disprove the “commodity” claimers needs to find their way to the VU homepage. Readers can find the “Is Insurance a Commodity?” icon under “Hot Topics” for a vast array of resources specifically designed or selected to provide valuable ammunition for the fight.


Here are a few examples of the available resources:

  • Registration links for upcoming live webinars, such as Competing with Direct Sales & Captive Agency Insurers in Personal (and Commercial) Lines on Wednesday, March 25 at 1 p.m. ET
  • Recordings of past webinars and podcasts addressing competitive issues, as well as methods for building a value-added agency
  • Quick links to a myriad of articles, from both the VU and outside sources, detailing specific coverage situations where alleged “commodity” policies in fact vary widely—and potentially dangerously—for insureds
  • Links to relevant social media discussions

The VU updates every resource regularly with new information to help agents undeniably prove insurance is not a commodity.


As a member benefit, the VU is more than just a technical library—it’s an effective advocate in the everyday battles independent agents face. Obtain your login and password online or email VU staff with questions.


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