Vendors
日本語
search
  2. //
  3. Reports & insights
  4. //
  5. Independent Producer Survey: Technology, Services, & Other Drivers of Carrier Choice

Independent Producer Survey: Technology, Services, & Other Drivers of Carrier Choice

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
29 December 2004
Craig Weber

Abstract

Boston, MA, USA February 3, 2005

Independent Producer Survey: Technology, Services, and Other Drivers of Carrier Choice Property/Casualty Edition

Repeating many of the themes they voiced a year ago, independent property/casualty producers in a new Celent survey stressed technology, underwriting relationships, field service, and speed as critical drivers of carrier choice.

"Commoditization is a big factor for many lines of business," says senior analyst

Craig Weber, author of the report. "As it becomes harder to differentiate on product and price, carriers will have to look at speed and service as their ticket to generating producer loyalty."

Weber notes that last year痴 three top drivers were repeated this year (see table below), while a redefined category of "field service" was also highly ranked. "We believe that technology is consistently recognized as such a strong factor because it enables all the other factors," Weber says. "Producers often talk about their favorite carriers in terms of the way they handle specific, everyday tasks, like generating quotes and checking commissions."

Table 1: Reasons For Favorite Carrier Status
Q: Which is your favorite carrier, and why?
Rank Topic Comment Example 2004 Percentage 2003 Percentage
1 Technology "It's easy to generate quotes online." 27% 24%
2 Underwriting relationship "I can really work well with my underwriter at Carrier X." 18% 14%
3 Field service "They're easy to reach, and they do what they say they will do." 14% N/A
4 Speed "They usually turn policies around in a hurry." 11% 14%
5 Product "Carrier X offers the coverages that my client need." 9% 15%
6 Philosophy "They know what business they are in and don't try to be all things to all people." 8% 9%
Source: Celent 2004 Producer Survey
Table 1: Reasons For Favorite Carrier Status
Q: Which is your favorite carrier, and why?
Rank Topic Comment Example 2004 Percentage 2003 Percentage
7 Price "They might not win on price, but they're always in the ballpark." 7% 9%
8 Policyholder service "They're great with claims." 3% 7%
9 Compensation "They pay great commissions." 3% 5%
10 Brand strength "It's easy to sell that AAA rating." 1% 2%
Source: Celent 2004 Producer Survey
Client Access