American Agency System

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American Agency System

A way to sell insurance whereby a self-employed individual or an independent company offers policies through different, competing insurers. This person or company is responsible for finding potential policyholders and often explains the advantages and disadvantages of individual policies. If a client buys a policy, the person or company receives a commission from the insurer. The advantages to the American agency system are that it keeps costs down for insurance companies (because they do not have to pay for marketing themselves) and provides potential policyholders a wider array of options. It is also called the independent agency system.
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The company was formed in 2014 by insurance and technology experts who wanted to improve the independent agency system's workflows.
The company was formed in 2014 by insurance and technology experts to who wanted to improve the independent agency system's workflows.
We admire the companys mission of focusing on excellent customer service, fair claims handling, underwriting profitability, and innovative marketing through the independent agency system, and look forward to helping the company continue to adapt and succeed in a rapidly-changing insurance marketplace.
Fitch views CINF's strong independent agency system as a core strength contributing to the company's success in a highly competitive property/casualty (P/C) industry.
to ensure that lawmakers and regulators understand and support the independent agency system. PIA's grassroots campaigns, including the annual PIA National Federal Legislative Summit (FLS) in April, give individual agents a powerful collective voice in government.
'We've invited experts from across the industry to lead critical discussions on topics such as strategies for supporting member perpetuation and growth, critical issues for the network carrier relationships, automation, data capture, market access for networked groups and the future of personal lines products for the independent agency system. The agenda alone makes a compelling case for agency networks to join us in Tempe.'
With all the pressure on the Independent Agency System for merger-and-acquisition (M&A) activity, due to aging principals, lack of new talent entering the business and the failure to implement succession plans on one end--and the growing appetite for agencies on the part of large brokers and public companies, hedge funds and banks on the other end, why aren't there more successful transactions?
"As a result, he understands the dynamic nature of the insurance marketplace, while sharing our strong commitment to the independent agency system."
I believe the independent agency system and its producers have the potential, and need, to be a more significant contributor to client success than any other partner their clients have.
While we often reflect on the virtues of the Independent Agency system and the value agents bring to each community that they serve, this is truly a time when we recognize just how fortunate we are to enjoy so many wonderful partnerships throughout our territory and appreciate how much we can accomplish by working together.”
Far from contracting, the independent agency system is growing.
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