Independent insurance agents are embracing new ways of life and work as market conditions continue to evolve during the COVID-19 pandemic, according to The Hanover Insurance Group's recent "State of The Independent Insurance Agency Report," which provides a glimpse at the future of agencies across the U.S. For its report, the insurer surveyed more than 500 independent insurance agency owners to better understand the state of the industry amid the coronavirus global health crisis. "In the face of significant challenge and uncertainty, many independent agencies have succeeded over the past 18 months, taking away some very valuable lessons that will help them as they seek to more effectively serve their customers and build their businesses going forward," said Richard W. Lavey, president of Hanover Agency Markets, in a press release. The survey found that 66% of agency owners expect to continue working in a remote/hybrid model. Seventy-two percent of agency owners also reported increased customer retention, and 62% said their agency has grown during the pandemic this year. However, even though customers have remained loyal to their independent agents, Lavey cautions agencies not to rest on their laurels. "As agency owners look to the future, it's more important than ever that agents maintain strong retention, working with carriers that can support — and continue to enhance — business models with increased flexibility for staff and increased digital accessibility and services to take customer and employee experiences to the next level," he noted. To assist independent insurance agencies and agents build their business in the coming months, The Hanover shared a customer growth and retention checklist. Find those tips in the slideshow above. Related: |

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