Note to independent agents: In case you haven't heard, you're just about extinct.

The latest salvo proclaiming that independent insurance agents are toast comes from a study by investment bank Nomura, stating that the battle for personal lines auto insurance sales has already been lost to the direct writers, and that the independent agent's role, if any, is rapidly dwindling:

The Nomura analysis also says that as insurers' underwriting-model sophistication grows, “the value of 'frontline underwriting'—the strategy of paying talented agents to differentiate good vs. bad risks on behalf of the insurer—has declined. Even the ability to provide price comparison has been diminished because the consumer has been made aware of a cheaper alternative to the independent agent's best deal.”

Well, duh. Is this really a news flash?

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