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.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.