It’s undeniable that use of online channels in insurance distribution is growing. But at the same time, let’s not lose sight of the fact that, for now, the agent is still the top agent for insurance sales.
The agent is still king
Internet usage in insurance sales is on the rise, but is exceeded by the most dominant distribution channel—the agent.
Research shows that 59 percent of consumers who own at least one insurance policy bought it from an agent. Compare that with the 34 percent who went through insurers’ websites and aggregators. The number of consumers who went through an agent is almost twice that of those who purchased online.
Also consider that of those who intend to purchase a policy in the next 12 months, 49 percent plan to buy from an agent.
Far from being dead, the agent is still king.
Learn more about the Accenture Multi-Channel Distribution Insurance Consumer Survey.