Slayton Search Partners: Changing Insurance Distribution Models and Evolving Carrier Strategies
Today, insurance carriers must evolve with the ever-changing market and adapt to shifting consumer habits. This Slayton Search Partners article asks the question, what do these changing insurance distribution models mean for carriers? Additionally, how can these carriers adapt to satisfy consumers?
Here are a few key points the article mentions:
- 80% of auto insurance shoppers use the internet to gather information, however, consumers still want a relationship with a captive and independent agent.
- Carriers are wise to invest in streamlining both digital and in-person customer experiences.
- 50% of agents feel direct-to-consumer channels pose a threat, causing a disconnect between insurers and the agents who sell their products.
- Only 22% of agents know how they fit in with a carrier’s strategy. The relationship between carriers and agents likewise needs nurturing.
- The way to increase sales and revenue in today's market is by making it easier for an agent to connect with the customer.
Learn more about how changing distribution models affect executive hiring in insurance.