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What Was Old Is New Again!

Photo on 2010 05 05 at 12.34 What Was Old Is New Again!

Rick Gilman, Executive Director

I started my career as a journalist for the National Underwriter Life Edition and as the life agent beat reporter I remember writing a number of articles encouraging agents to “cross sell” their life clients on home and auto coverages. Back in those days, it was always touted that life insurance had to be “sold” but property and casualty was “bought.”

So, life agents saw P&C as a fairly easy sell, as you can’t buy a home or a car without the proper coverage, and they leveraged it to round out their book of business.

Fast forward nearly three decades and we find the pendulum swinging the other way with many agents viewing the personal lines side of P&C as a commodity and too difficult to compete with the big direct writers or captive agency companies because buyers are just shopping around for the best price.

Thinking that commercial lines business is where their future and success lies, independent agents couldn’t be further from the truth. When you consider that property & casualty insurance accounts for about $460 billion in premiums and personal auto alone represents 34% of that number, the potential revenue is staggering.

Right now national and regional independent-agency carriers account for only about one third of the total personal lines premiums. Think about how much is slipping through the cracks in the independent agency system into the hands of the direct writers and captive-agency companies.woman at desk 150x150 What Was Old Is New Again!

Shifting the balance in personal lines premiums is just what the Personal Lines Growth Alliance is all about. Getting the word out to those people and companies that support the independent agency system, educating agents on how to build a real sales culture amongst their staffs and giving them the tools to drive growth of PL sales is why more than 300 independent agencies and brokers, trade associations and user groups, national and regional carriers, and several technology providers are all part of the Alliance.

If you’re not already a member and/or you know of carriers that aren’t on the member list but should be, let us know. Help us reach out to others to strengthen our message; help us help you.

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