This is the No. 1 competitive threat facing independent agents in 2015
January 19, 2015 by Warren S. Hersch
Most of the 38,500 independent agencies in the U.S. are small businesses that generate average annual premiums of between $5 and $6 million, earn commissions of less than $1 million, and employ seven to 12 full-time employees, according to new research.
Accenture discloses these findings in a new report on independent agencies, “Evolving to Compete and Win in the Long Term.” Based on a 2014 survey of 1,158 independent agents in the U.S., the survey explores independent agents’ growth strategies, value drivers, operational competencies and customer insights. Click here to read…