Two hundred agency principals or producers from independent U.S. P&C agencies shared their thoughts with Aite Group (an independent research and advisory firm focused on business, technology and regulatory issues) and insurance software and agency management systems provider Vertafore on their optimism, revenue and use of technology tools to support their growth.
The results, some of which are highlighted in the following pages (download the full report) provide a snapshot of producers' feelings as we head into another challenging year in a softening P&C market.
Overall, P&C agencies are less focused on aggressive growth in the next three to five years than they are in maintaining the business they currently have. The majority (57%) say they are hoping for moderate growth. This is particularly true for larger agencies, with the number of those saying they look to aggressively grow falling from 67% in 2014 to just 27% this year.
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
