Insurance Agencies Are Changing

Recent surveys by the Big I (Independent Insurance Agents of America) shows the numbers of middle size agents is dropping rapidly. Agents with 10-20 employees used to be the majority in the country. Now, however, this group is becoming the minority.Why is this happening? there are many reasons but experts are saying it is the insurance company demands. In order to meet the production requirements agents have to grow to keep company contracts. This has resulted in the increasing number agents with 30-100 employees. The smaller agents are also thriving because they can act as boutique shops that specialize in custom service and attention. So how does this change the insurance landscape? It remains to be seen but certainly the customers demands will ultimately determine the make up of agencies. Until next time be careful out there and know you risks. K

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