Personal Lines Insurance Agents Are Not Dead
Personal Lines Insurance Agents are not dead. As a matter of fact, they're flourishing. Automation and the crafting of low touch, high frequency workflows are more efficient than any time in the history of the IA Channel.
I'm seeing a huge push to go big in commercial or go home. Great, go for it, but that's not the only path. I would argue it may not even be the most stable or most profitable path. The big think tanks (white papers) missed it again, or at least missed the timing by a few decades. Not to mention the resiliency and pure, refuse to lose attitude of small businesses!
There is an exclusive agency channel exodus that has been ongoing for several years and continues to trend positively for the IA Channel. These well-trained and experienced agents are starting new Independent Agencies and thriving in Personal Lines Insurance.
I'm not anti-commercial lines, we have a substantial commercial lines operation in our agency. I just think that one sided pushes, from anything or anyone, need counterbalanced debate and opinion.
Personal Lines operations that focus on increasingtheir Policies Per Client Ratio, working with efficient and stable carrier partners, and understanding that Personal Lines focus can have multiple layers (it’s not one size fits all), are commanding increasing valuations due to their lowered long term risk post-acquisition/exit.
If you are doing this, if you are Personal Insurance focused, ignore the shaming attempts from the other side, you’re doing great, so keep pushing on your fly wheel!