April 24, 2024

Insurance Purchasers Returning to Independent Agents

Posted by Waring Ahearn Insurance
Leading Edge

Jay Duke

Jay Duke

This month, a study released by The Hanover Insurance Group (NYSE: THG) reported that nearly 60 percent of people purchasing insurance from direct marketing companies switched back to an Independent insurance agent, seeing the choice as providing “more value,” according to Hanover’s announcement of the findings.

Most consumers who switched back to Independent agents cited expertise and convenience as drivers in their decision. According to the survey, the motivators for consumers who switched to work with Independent agents also included the benefits of having one point of contact to handle insurance needs and questions, and, having the guidance of an experienced personal insurance professional.

“I have seen this in my 25 years as an Independent insurance agent in Southern Maryland,” said Jay Duke, owner of Waring Ahearn Insurance in Leonardtown, Maryland.

“This research demonstrates that consumers really value the advice provided by Independent agents and the personal relationships they build with their customers,” said Mark R. Desrochers, president, personal lines insurance at The Hanover. “The majority of respondents said their number one reason for switching from a direct insurance provider was to have someone to guide them through their insurance buying decisions. Clearly trust and expertise are important to consumers.”

Source: The Hanover Group

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