How did agency quoting business look in May 2020 during the coronavirus pandemic? (Photo: Shutterstock) Looking ahead, ITC predicts that quoting volumes will continue to remain below the expected quote activity. (Photo: Shutterstock)

For the past two weeks as of June 8, quoting volumes have largely stabilized. Quote volumes averaged 6.9% behind projections. The data also indicates a high rate of variability in quoting volumes, either immediately preceding or following a weekend. The causation for this is unknown.

Memorial Day has been excluded from the graph below. However, this year's holiday showed quoting volumes 35% higher than expected. This signals that working remotely has created an environment where agents can continue to quote and sell business, even on a holiday.

(Source: ITC)

May recap

Throughout May 2020, quoting volumes continuously improved week over week. With the first week of May averaging 11.5% behind expectations. The second week being 10% behind. The third at 7.6% behind. The fourth and final week of the month settled at 7.4% below expectations.

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