A new Conning study identified 18 top personal lines insurance growth and profit leaders out of the 264 U.S. companies that write $20 million or more.
It is no surprise to those of us who work with quality independent insurance agents that a full two-thirds – 12 of the 18 – growth and profit leaders are also companies that work in whole or in part with independent agents.
The study also showed that sometimes “too big to fail” is also “too big to succeed” – with 14 of the 18 most successful companies smaller than $500 million in premium.
The Conning report comes on the heels of a McKinsey study that says “agents have neither the scale nor the operational efficiency to profitably sell a commodity.”
Of course that’s really the point – smart companies work with great agencies that are not trying to profitably “sell a commodity”. Great agencies are solving complex client needs and providing invaluable guidance and advice.
Those complex client needs are exactly why at iMGA we offer a full range of coverage choices:
- Homeowners forms from HOA to HOA+ and HOB
- Dwelling forms from TDP1 to TDP1+ and TDP3
- Deductibles from $500 to 5%
- Other Structures coverage from 0% to 40% of Dwelling limit
- Loss of Use from 0% to 40% of Dwelling limit
- Replacement Cost, Actual Cash Value, or Fire and Lightning Only coverage for roofs
- And much more.
We work hard to make offering these choices as easy as possible, but it’s the independent agent we work with who makes it all possible and ensures the client has the right balance of coverage and cost for their specific needs. We couldn’t do it without you, and we know you’re the key to a very bright future for us.
If you’re a quality independent insurance agent in Texas and you don’t already represent iMGA for your client’s property needs, please contact us.