Despite the hard market, business conditions for property & casualty independent insurance agencies continue to be favorable with the number of agencies experiencing revenue gains up significantly.
The independent agency channel is holding ground and showing slow, steady gains in lines of business penetration, including homeowners insurance, according to the Big “I” 2024 Market Share Report.
A new survey found that women are increasingly taking charge of their financial security and insurance decisions.
In what ways are independent insurance agents adapting to the hard market? Trusted Choice–the national consumer brand representing the members of the Independent Insurance Agents & Brokers of America (the Big “I”)–examines that question in-depth in its newly released report, Navigating the Hard Market: How Independent Agencies Are Reacting.
As the independent agency channel continues to move past the historic economic disruptions of the coronavirus pandemic and into the challenges of a hard market, Best Practices agencies continue to display exceptional organic growth and profitability.
The independent agency channel is holding ground and showing slow, steady gains in lines of business penetration, including homeowners, according to the Big “I” 2023 Market Share Report.
ALEXANDRIA, VA, October 13, 2022— The number of independent insurance agencies has increased and business conditions for agencies remain favorable, according to the 2022 Agency Universe Study. While the majority of agencies experienced increased revenue, that percentage was lower than in the previous study in 2020.
The independent agency channel places 62% of all property-casualty insurance written in the U.S., according to the Big “I” 2022 Market Share Report.
ALEXANDRIA, VA, September 23, 2021—Despite early concerns in 2020 regarding the coronavirus pandemic, Best Practices agencies adapted quickly to a remote work strategy to serve their customers and posted remarkable results, according to the 2021 update of the Best Practices Study by the Big “I” and Reagan Consulting.
ALEXANDRIA, VA, March 29, 2021—One-quarter of independent insurance agencies report COVID-19 had a significant impact on their operations, revenue and commercial lines customer base, according to the 2020 Agency Universe Study COVID-19 Impact Summary.