Key Success Factors in Agent/ Carrier Relationships 2016 ... · Key Success Factors in...

Key Success Factors in Agent/Carrier Relationships Survey2016 Channel Harvest Research. All rights reserved.

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Key Success Factors in Agent/ Carrier Relationships2016 Survey


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The Carrier Relationship:What Matters Most to Agents & Brokers

Thank you for participating in our survey. Select Next to continue.

You And Your AgencyPercentage complete

First, do you currently work as an independent insurance agent, not as an employee agent orcaptive agent of a carrier? О YesО No

You And Your AgencyPercentage complete

What job title below BEST describes your role within your agency?

О Principal / President / Partner / OwnerО AVP / Vice President / SVPО Agent / ProducerО Account ExecutiveО Account ManagerО Marketing ManagerО CSR / Customer Service RepresentativeО Processor or other back officeО Other

Which of the following lines of business do you personally spend most of your timeproducing, servicing, or managing?

О Personal lines P&CО Small commercial P&C (accounts of less than $5,000 annually in fees/commissions)О Middle market commercial P&C (between $5,000 and $50,000 annually in fees/commissions)О Large commercial P&C (more than $50,000 annually in fees/commissions)О Life/health/employee benefitsО Other


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What is your agency’s annual revenue, including new and renewal revenue sources? (Note: revenue = commissions + fee income)

О Under $150,000О $150,000 - $299,999О $300,000 - $499,999О $500,000 - $999,999О $1,000,000 - $1,999,999О $2,000,000 - $2,999,999О $3,000,000 or moreО Don’t know

In the last year, to the best of your knowledge, did your agency’s total revenue increase, decrease or stay the same?

О Increased by 5% or moreО Increased by less than 5%О Stayed the sameО Decreased by less than 5%О Decreased by 5% or moreО Don’t know

What percentage of your agency’s premiums are from personal lines?

О 0%О 1-25%О 26-50%О 51-75%О 76-100%О Don’t know

What percentage of your agency’s premiums are from commercial lines?

О 0%О 1-25%О 26-50%О 51-75%О 76-100%О Don’t know


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What is the total number of employees in your agency? (Please include all agency principals,producers, and customer service staff)

О 1 employeeО 2-5 employeesО 6-10 employeesО 11-20 employeesО 21-50 employeesО More than 50 employees

In which state does your agency write MOST of its business? Select State

What is your age?

О 25 and underО 26-35О 36-45О 46-55О 56-65О Over 65

What is your gender?

О MaleО Female

Personal Lines CarriersPercentage complete

Do you work in personal lines production?

О YesО No



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What are your top 3 personal lines carriers in amount of business placed?

1. Select Carrier

if Other, please specify:

2. Select Carrier


3. Select Carrier


Which personal lines carriers have you placed any business with over the past year? (Selectcarriers – check all that apply)

Personal Lines Carriers

Q ACE GroupQ ACUITYQ AIGQ AllianzQ Allied Insurance (Nationwide)Q Arbella InsuranceQ Auto-Owners InsuranceQ Central Insurance CompaniesQ Chubb (ACE Group)Q EMC InsuranceQ Encompass Insurance (Allstate)Q Erie InsuranceQ Farmers InsuranceQ FBL Financial GroupQ Foremost Insurance GroupQ Grange InsuranceQ Great American Insurance GroupQ Harleysville (Nationwide)Q KemperQ Mercury InsuranceQ MetLifeQ Motorists Mutual Insurance Company


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Q Mutual of Enumclaw InsuranceQ National General InsuranceQ Old Republic Insurance CompanyQ OneBeacon Insurance GroupQ ProgressiveQ QBEQ Safeco Insurance (Liberty Mutual)Q SECURA Insurance CompaniesQ Select CarrierQ SelectiveQ State Auto Insurance CompaniesQ The Cincinnati Insurance CompaniesQ The Hanover Insurance GroupQ The HartfordQ The Main Street America GroupQ TravelersQ Victoria InsuranceQ Westfield InsuranceQ Zurich Insurance GroupQ Other


Overall, how satisfied are you with ? Please use a 1-5 scale where 1 means “not at all satisfied” and 5 means “extremely satisfied”.

Overall satisfaction

Why is your top carrier in amount of business placed?

Not at allsatisfied

1О

Not verysatisfied

2О

Somewhatsatisfied

3О

Verysatisfied

4О

Extremelysatisfied

5О

Don’tKnowО


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And please rate on the following attributes, using the following 1-5 scale:

Personal LinesAttributes

Claims servicequality

Marketing О О О О О Оsupport

Underwriting О О О О О Оappetite

Underwriting О О О О О Оexpertise

Underwriting О О О О О Оresponsiveness

Underwriting О О О О О Оflexibility

Carrier technology О О О О О О(e.g. portals, online tools)

Digital/Social О О О О О Оmedia support

Effectiveness О О О О О Оof field representatives

Training and О О О О О Оeducation

Financial О О О О О Оstrength

Far Below Average

1О

BelowAverage

2О

AboutAverage

3О

Better ThanAverage

4О

Far BetterThan Average

5О

Don’tKnowО


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Competitive pricing

Agency О О О О О Оcompensation

Technology О О О О О Оsupport

Brand О О О О О Оreputation

Customer О О О О О Оservice

Regardless of how you just rated, on the attributes above, please indicate how important eachof the following attributes are to you when evaluating ANY personal lines carrier?

Importance ofAttributes





Far Below Average

1О

BelowAverage

2О

AboutAverage

3О

Better ThanAverage

4О


5О

Don’tKnowО

VeryUnimportant

1О

Somewhat Unimportant

2О

Neither Unimportant

Nor Important

3О

SomewhatImportant

4О

VeryImportant

5О

Don’tKnowО


9

VeryUnimportant

1О


2О

Neither Unimportant

Nor Important

3О

SomewhatImportant

4О

VeryImportant

5О

Don’tKnowОUnderwriting

responsiveness






Competitive О О О О О Оpricing






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How interested are you in adding new personal lines carriers in the coming year?

О Very interestedО Somewhat interestedО Somewhat uninterestedО Not at all interested

Commercial Lines CarriersPercentage complete

Do you work in commercial lines production?

О YesО No


Which commercial lines carriers would you say are your personal top 3 in terms of amount ofbusiness placed?

1. Select Carrier If Other, please specify:

2. Select Carrier

If Other, please specify:

3. Select Carrier

If Other, please specify:


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Which commercial lines carriers have you placed any business with over the past year?(Check all that apply)

Commercial Lines Carriers

Q ACE GroupQ ACUITYQ AIGQ AllianzQ Allied Insurance (Nationwide)Q Amerisure InsuranceQ Arbella InsuranceQ Auto-Owners InsuranceQ Berkshire HathawayQ Central Insurance CompaniesQ Chubb (ACE Group)Q CNAQ EMC InsuranceQ Encompass Insurance (Allstate)Q Erie InsuranceQ Farmers InsuranceQ FBL Financial GroupQ Foremost Insurance GroupQ Grange InsuranceQ Great American Insurance GroupQ Harleysville (Nationwide)Q Hartford Steam BoilerQ KemperQ Liberty Mutual InsuranceQ MarkelQ Mercury InsuranceQ Motorists Mutual Insurance CompanyQ Mutual of Enumclaw InsuranceQ National General InsuranceQ Old Republic Insurance CompanyQ OneBeacon Insurance GroupQ ProgressiveQ QBEQ SECURA Insurance CompaniesQ SelectiveQ State Auto Insurance Companies


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Not at allsatisfied

1О

Not verysatisfied

2О

Somewhatsatisfied

3О

Verysatisfied

4О

Extremelysatisfied

5О

Don’tKnowО

Q The Cincinnati Insurance CompaniesQ The Hanover Insurance GroupQ The HartfordQ The Main Street America GroupQ TravelersQ Victoria InsuranceQ W.R. BerkleyQ Westfield InsuranceQ Zurich Insurance GroupQ Other


Overall, how satisfied are you with ? Please use a 1-5 scale where 1 means “not at all satisfied” and 5 means “extremely satisfied”.

Overall Satisfaction

Why is your top carrier in amount of business placed?


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And please rate on the following attributes, using the following 1-5 scale:

Personal LinesAttributes





Underwriting О О О О О Оresponsiveness



Digital/Social О О О О О Оmedia support




Far Below Average

1О

BelowAverage

2О

AboutAverage

3О

Better ThanAverage

4О


5О

Don’tKnowО


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Competitive pricing





Regardless of how you just rated, on the attributes above, please indicate how important each of the following attributes are to you when evaluating ANY commercial lines carrier?

Importance ofAttributes





Far Below Average

1О

BelowAverage

2О

AboutAverage

3О

Better ThanAverage

4О


5О

Don’tKnowО

VeryUnimportant

1О


2О

Neither Unimportant

Nor Important

3О

SomewhatImportant

4О

VeryImportant

5О

Don’tKnowО


15

VeryUnimportant

1О


2О

Neither Unimportant

Nor Important

3О

SomewhatImportant

4О

VeryImportant

5О

Don’tKnowОUnderwriting

responsiveness






Competitive О О О О О Оpricing






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How interested are you in adding new commercial lines carriers in the coming year?

О Very interestedО Somewhat interestedО Somewhat uninterestedО Not at all interested

Carrier CommunicationPercentage complete

Generally speaking, how often do your top two or three carriers communicate with you – too much, communicate the right amount, or communicate too little with you?

О Too muchО The right amountО Too littleО Not sure

How would you most like your carriers to communicate with you? (CHOOSE ONE OR TWO ANSWERS)

Q EmailQ In-person visits from field representativesQ Video chatQ Telephone callsQ Text messagesQ Digital/social mediaQ Direct mailQ Agent portals

Thinking about the EMAILS you receive from your top two or three carriers – how useful do you find them?

О Very usefulО Somewhat usefulО Only slightly usefulО Not usefulО Not sure


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Do you ever forward those emails to other agents?

О OftenО SometimesО RarelyО NoО Not sure

Do you ever forward those emails to customers?

О OftenО SometimesО RarelyО NoО Not sure

If you ever forward carrier emails, do you put your own agency’s name on them, or do you just forward them as you receive them, with the carrier’s name on them?

О Own nameО Carrier’s nameО Not sureО Do not forward carrier emails

Which of the following might make you MORE likely to read all the way through an email you receive from your carrier? (SELECT ALL THAT APPLY)

Q Personalized subject lineQ Including the estimated read timeQ The sender address is personalized (e.g. directly from your marketing rep)Q There is a clear call to actionQ There is an incentive offeredQ The email is mobile friendlyQ The email is sent in the morningQ The email is sent in the afternoonQ The email is sent in the eveningQ NoneQ Not sure

Carrier TrainingPercentage complete


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Which of the following courses would you like to take or would you like employees in your agency to take? And, to the best of your knowledge, which of the following trainings do your top two or three carriers provide?

Training

Sales training for CSRs or producers

Carrier-specific product training for personal lines О О

Carrier-specific product training for commercial lines О О

Carrier-specific systems training for personal lines О О

Carrier-specific systems training for commercial lines О О

How to use your agency website to increase business О О

How to recruit producers and CSRs О О

How to coach and retain your employees О О

Courses that qualify for CE (continuing education) credit or О Оindustry designation

Claims handling training О О

An training that teaches the basics of property and casualty О Оinsurance

A training that teaches intermediate and/or advanced aspects of О Оproperty and casualty insurance

Customer ExperiencePercentage complete

Would Like To TakeО

Top Carriers ProvideО


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How do you prefer to communicate with your customers? (CHOOSE ONE OR TWO ANSWERS)Email

Q In-person visits from field representativesQ Video chatQ Telephone callsQ Text messagesQ Digital/social mediaQ Direct mailQ Customer service portals

When it comes to producing, selling, and generating revenue, how useful is each of these ways of communicating with your customers?

Product

Email

In-person visits О О О О О

Video chat О О О О О

Telephone calls О О О О О

Text messages О О О О О

Digital/social media О О О О О

Direct mail О О О О О

Customer service portals О О О О О

Is there a carrier that does more than others to support your agency’s overall growth - not just with them, but dedicated to the strength of independent agents? Who?

VeryUseful

1О

SomewhatUseful

2О

Only SlightlyUseful

3О

NotUseful

4О

Don’t Know

5О


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Please rate your top two or three carriers (personal or commercial) on the following items that affect customer experience, using the following 1-4 scale:

Item

Quote and issue

Getting information on status of claims О О О О О

Looking up a policy О О О О О

Looking up a customer О О О О О

Billing the customer О О О О О

Taking payments from the customer О О О О О

Industry TrendsPercentage complete

Many carriers provide online, self-service options for customers. Do you think that this is a very good thing, a somewhat good thing, a somewhat bad thing, or a very bad thing?

О Very good thingО Somewhat good thingО Somewhat bad thingО Very bad thingО Not sure

Over the past few years, several carriers have merged with or have been acquired by other carriers. How will these mergers and acquisitions affect your agency’s business?

О Large positive effectО Small positive effectО No effect at all

Excellent1О

Good2О

Only Fair3О

Poor4О

Don’t Know

5О


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О Small negative effectО Large negative effectО Not sure

Over the past few years, computer hacking, database breaches, other cyber crime, and new data privacy regulations have increased the demand for cyber liability insurance. How will this impact your agency’s new business?

О Major growthО Minor growthО No growthО Not sure

Thank YouPercentage complete

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Key Success Factors in Agent/ Carrier Relationships 2016 ... · Key Success Factors in...

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