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Agents prefer carriers with simple digital workflows over high commissions, with 90% saying friction has led them to shift business, according to Ivans.
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Workers’ Compensation
In a record year for M&As, the 2016 Power Brokers excelled at marrying risk management cultures and firming up carrier relationships.
Fitch Ratings expects deteriorating earnings for insurers and only modest improvements for brokers.
Changing market forces are driving pessimism among independent insurance agencies.
Speakers at recent brokerage summit discussed pursuing acquisitions in a seller’s market and the importance of innovation.
Except for cyber, risk managers can expect declining insurance premiums.