Nationwide Will Fully Shift to Independent Agent Model
As part of ongoing efforts to give agents the flexibility they need to grow and thrive, Nationwide is announcing its intention to shift entirely to an independent agency distribution model by July 1, 2020. The company is one of the largest carriers that currently sells products through both exclusive and independent agents.
Nationwide said that approximately 2,000 existing agents who have been operating under the Nationwide brand will have the opportunity to transition to an independent agency model between now and July 1, 2020. The company already has relationships with more than 10,000 independent agents across the United States.
“We’re sharing our plans with agents now so they can have as much time as possible to review their options and plan for the transition,” said Mark Berven, President & Chief Operating Officer of Nationwide Property & Casualty. “Market dynamics, customer preferences and increased desire by exclusive agents for more flexibility make now the opportune time to move to a fully independent model. It will create a win-win for our distribution partners, and ultimately, our members.”