High-Tech Personal Lines

How technology is changing the way agents do business

Many believe there is still opportunity for independent insurance agents and their carriers to grab personal lines market share. But to do so they must find a way to compete against the giant direct response and captive carriers that are beating them at personal lines.  Direct response insurers now control more than one in every six dollars of personal auto premiums. If that growth rate holds, direct writers will approach 20 percent of the auto market share in the next year or two, the IIABA report says.  While technology must be part of independent agents’ strategy, that alone is not enough.

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Article via InsuranceJournal.com | Written by Andrea Wells