Channel Strategies and Plans for P&C Agencies: A View of the Commercial Lines Segment in 2023


Author(s):
Mark A. Breading, Senior Partner
Publication Date:
June 28, 2023
Number of Pages:
14
Price:
$1,495.00 USD

As the distribution landscape evolves and technology advances, many commercial lines agencies are responding by strategically forging new channel partnerships and expanding existing ones. For insurers, it is imperative to understand how agents and brokers evaluate current and prospective channel partners in order to build long-lasting relationships in an ever-changing environment.

This research report covers the channel expansion plans for commercial lines agencies based on a recent survey of agency executives. The report includes agencies’ expectations for distribution changes over the next few years and their current approaches to various partnerships and examines the types of channels agencies plan to leverage in their expansion plans moving forward. The report then ends with actionable insights for insurers and agencies on how to strengthen channel partnerships.

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Table of Contents

  • About This Research Report 3
  • Commercial Lines Channel Expansion: Back to Basics? 4
  • Today's Channel Environment 5
  • Partnerships and Affiliations Used Today
  • Agencies’ Perspectives on Digital Agencies and Insurtechs
  • Agencies’ Approach to Partnering with Tech Distribution Platforms/Raters
  • Channel Environment of Tomorrow 9
  • Expectations for Distribution Changes
  • Agency Plans for Expanding Channel Partnerships
  • Call to Action 13
  • About ReSource Pro Consulting 14
  • Use of Our Reports
  • About the Author