Global management consulting firm Accenture recently released the results of a survey of US auto and home insurance buyers. The study included over 2,036 responses from a representative sample of home insurance purchasers, and the results are good news for agents:
- Seventy-six percent of consumers express a preference for setting up and paying for their auto and home insurance policies in person with an agent.
- Fifty-two percent of consumers prefer to obtain a quote either over the phone or in person.
Other important findings include:
- Twenty-six percent of survey respondents planned to at least consider an alternative at their net renewal.
- Fifty-four percent of customers realize that there are meaningful differences between different companies’ policies.
- Thirty-eight percent of consumers are willing to pay for personalized insurance advice – and of those, fifty-six percent are willing to pay at least ten percent more.
The study also found these preferences held solid across all age groups. As Accenture managing director Erik J. Sandquist said, “Our survey reveals that many young consumers desire personalized advice and are willing to pay more for it – and a significant percentage prefers to obtain their quotes face-to-face.”
So even after billions of advertising dollars have been spent trying to convince customers to go direct, a strong majority still realize that a good agent is key to making sure their coverage truly meets their needs.
The results are a particularly strong vote of confidence for agents considering that the study was conducted entirely online.
At iMGA we’re proud to work with great agents all over Texas who are experts in personal property insurance, and we’re very glad this study shows that consumers also recognize their value.