Independent Agent

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Independent Agent

An insurance agent who sells policies on behalf of several different companies. That is, an independent agent is self-employed and keeps commissions from whatever company for which he/she sells policies. Theoretically, an independent agent can offer objective advice, though if one company offers higher commissions than the others this can create a perverse incentive.
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Peter Balisteri, CIO of Merchants Insurance Group, said, 'We needed to streamline information exchange with our independent agents and make it easier to conduct business together.
Industry pundits warn independent agents that failure to aggressively compete with these disrupters will mean the demise of independent agents and their system of operation.
A second component is the understanding that independent agents should be considered the customers of a carrier as well.
The first step to losing any contest is to underestimate your opponent, and independent agents cannot afford to do so against a behemoth like Google.
We're also seeing some carriers, that have traditionally distributed exclusively through independent agents, begin to sell directly to small-commercial insurance buyers.
Texas Mutual also will work with the agent association to develop programs to support independent agents across Texas.
Keep an eye out for Openly, a new digitally-sophisticated upmarket homeowners insurer catering to independent agents.
What made it even more exciting was the folks who created and are using this platform see it not only being used by consumers who prefer to deal directly with them but also by independent agents and brokers.
For most independent agents, social media is a hobby at best and an afterthought at worst.
30% TO 40% of independent agents join other in an association, alliance or cluster.
The "golden age of digital marketing" is opening up new opportunities for independent agents and brokers, Charles "Chip" Bacciocco, the newly named chief executive officer of Project CAP, told attendees of the Insurance Marketing and Advertising Summit online presentation series.
QBE North America will transfer its North America personal insurance policies sold through independent agents to Safeco Insurance, leaving the specialist insurer to focus on its core commercial businesses.

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