2019 National Underwriter/PIA Survey Results
Results are now in from the 2019 National Underwriter/PIA Independent Agent Study, conducted by Flaspöhler/NMG Consulting.
Since 2017, PIA National has partnered with the National Underwriter and PC360 to develop to develop insights into the commercial lines segment from the perspective of independent Property & Casualty insurance agents and brokers throughout the United States
The survey asks producers for their views on working with commercial carriers, their books of business and the challenges they face. Taken as a whole, the survey comprises a comprehensive view of the successes and challenges of today’s independent insurance agents.
When asked which factors most influence how insurance agents evaluate and select commercial carriers, their top responses (in order) were ‘products and coverage’ followed by ‘responsive service’ and ‘claims management.’
In reviewing the results, Mike Becker, executive vice president & CEO of PIA, noted: “More than half of the agents participating in the study reported that their commissions increased, and more than one quarter said they remained the same. In addition, more than half who had a decrease said it was relatively modest, between 1% and 5%. This indicates ongoing stability in agent compensation in the current market conditions.”
He added, “When asked to rate their overall level of satisfaction with the P&C carriers they use for commercial lines, agents responding ‘very satisfied’ (36.5%) or ‘somewhat satisfied’ (50.6%) were more than three-quarters of those responding.
Over the next several weeks, we will be featuring aspects of the study results, as well as reporting some of the open-ended comments made by participants.