Part 1: Massachusetts Auto Insurance
My name is Kevin Johnson. I am a Massachusetts Insurance Agency owner. I am a licensed, professional Independent Insurance Agent.
The Nation is watching as the world of “Massachusetts Auto Insurance” moves into “managed competition.”
What is going to become of the Independent, Massachusetts Insurance Agent?
Part 2: The Incredible Shrinking Agency
With continued rate decreases and competition (slipping retention rates), many MA Insurance Agencies are working longer, working harder and still our books of business are shrinking.
Over the past decade companies are having the local agent do more of the processing and more of the underwriting. We have had to keep pace with technological advancements with ongoing, significant expenses.
Companies try to commodatize and marginalize what we do and continue to reduce commissions.
Part 3: Is It Time To Close Up Shop?
“No Business for Old Men.” Sounds like a movie. I can see my senior partner playing the lead role fumbling with usernames, passwords and rating software.
Direct writers and new carriers threaten our professional existences. How can we compete?
Many in the biz. wonder if it is time to close up shop.
Part 4: Conclusion
The Massachusetts Independent Insurance Agency community is vital part of a healthy insurance system.
I have a note on my desk that says: “Add Value.” It is a daily reminder of why I am here. We are advocates for our clients. We represent our clients at claim time and we make certain of fair and timely settlements. We are a voice on the other end of the phone, or in the office, that has the interest of our client in mind.
We are here for billing problems or insurance-related, life issues.
We market multiple lines of insurance, with multiple carriers and we shop for the best rates and insurance programs. We offer Trusted Choices.
Part 5: Epilogue
With the strength of Added Value & Trusted Choices the Massachusetts Independent Agent should be buoyed. Instead of us wondering how to compete, we should start feeling bad for the direct writers.
They don’t stand a chance.