Quotes on Car Insurance, Auto Insurance, Travel Insurance, Home Insurance and Life Insurance

Drive® Insurance From Progressive Surveys Young Agents; Asks for Their Perspectives on Key Drivers of Success, Industry Challenges and Technology

Mayfied Village, OH (PRWeb) January 13, 2007 -- The future of independent insurance agencies across the U.S. depends on the successful development and advancement of today's young independent agents and brokers. To help these agents master the skills needed to grow their businesses, many industry associations and carriers have stepped up to lend a helping hand, offering leadership training and educational programs, networking opportunities and technology support.

The Drive® Group of Progressive Insurance Companies (Drive Insurance), the largest writer of auto insurance through independent agents and brokers in the U.S., conducted a countrywide online survey of young independent insurance agents to find out what they think about everything from business growth opportunities and technology to the skills necessary to succeed and the challenges faced by the industry.

More than 750 young independent agents responded to the survey. Drive Insurance followed the industry's definition of young agents - those 40 or younger, or those who have been in the industry less than 10 years.

According to the survey:

Young Agents on Success, Challenges and Succession

The Top Five Skills Needed to Become a Successful Independent Insurance Agent
1. Product and risk management knowledge
2. Sales skills; People management skills (tie)
3. Initiative; being a self starter
4. Business management skills
5. Empathy for customers

The Top Five Most Significant Challenges Faced by an Independent Insurance Agency
1. Attracting new customers
2. Increasing competition from companies selling direct
3. Finding and retaining good people
4. Having the variety of markets and products to meet customers' needs
5. Retaining existing customers

On Succession
Of all young agency owners or principals, the majority (67 percent) have a succession plan in place in the event of a planned or unplanned absence.

Why an Agent?
When asked why they became an independent insurance agent, the reasons most young agents give: To own my own business (26 percent); because it was a family-owned business (18 percent); and to help consumers/the general public (15 percent).

Young Agents on Growing Their Business

The Three Most Important Ways Young Agents Attract New Business
Personal Lines   
1. Referrals from existing customers   
2. Cross selling new coverages to existing customers   
3. Traditional advertising/marketing (e.g., local print, direct mail, printed yellow pages, telemarketing, etc.)   

Commercial Lines
1. Referrals from existing customers
2. Cross selling new coverages to existing customers
3. Referrals from other organizations and area professionals

Where the Growth Is
Ninety-three (93) percent of young agents surveyed are targeting personal lines as a growth area while 75 percent are targeting commercial lines.

Young Agents on Technology

The Top Technologies Young Independent Insurance Agents Use to Manage/Grow Their Business
1. Carrier Web sites
2. Agency Management System
3. Downloads from carriers
4. Real-time interfaces with carriers
5. Comparative raters
6. The Internet for prospecting, selling or informational purposes

The Technological Advantage
The majority of young independent insurance agents (79 percent) say technology has been significant in helping them grow their business.

Carriers Mentioned Most Often as Providing the Best Technology to Write & Retain Business
1. Drive Insurance from Progressive (72 percent)
2. Safeco (5 percent)
3. Travelers (4 percent)

Web Site Usage
Only 11 percent of young independent insurance agents have an interactive Web site where people can quote, buy and contact them. Thirty-four (34) percent have a static Web site where people can learn more about their agency and the services they provide and 40 percent don't have a Web site at all.

Young Agents on Carriers

The Five Most Important Things Carriers Can Offer an Independent Insurance Agency
1. Competitive rates
2. Technology that helps them more easily write business and service customers
3. A variety of markets and products (auto, home, umbrella) that meet customers' needs
4. Competitive commissions
5. Support provided by dedicated service personnel via phone

Banking on a Brand
Nearly all agents (94 percent) say a carrier's commitment to building a brand on behalf of independent insurance agents is important.

About The Drive Group of Progressive Insurance Companies
The Progressive Group of Insurance Companies, in business since 1937, provides drivers with competitive rates and superior claims and customer service. The products and services of The Drive Group of Progressive Insurance Companies are marketed to consumers under the Drive® Insurance from Progressive brand through more than 30,000 independent insurance agencies in the U.S. Progressive companies using the Drive brand make up a group that is the largest writer of auto insurance through independent agents and brokers in the U.S., based on premiums written. Drive is also a leading writer of commercial auto, motorcycle, boat and RV insurance. Agents and brokers can log in to ForAgentsOnly.com to get an at-a-glance summary of everything they need to manage and grow their Drive business, including referrals, quotes, customer policy information, state and countrywide news and more. For more information, to find a Drive agent, or to get a quote, go to www.driveinsurance.com. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at NYSE:PGR.

# # #

MORE ARTICLES:

Flat Insurance in the UK
What are the factors involved in flat insurance? Do I need to provide both buildings and contents cover? Who will cover shared flats or flats with student tenants?The responsibility to insure the building fabric of a flat lies with the freeholder. This means that if you own your flat on a leasehold basis then you only need to insure the contents.

FindMyBestAgent.com Redesigned to Provide Enhanced, Organized List of Insurance Companies and Agents
What began as a simple online directory has been redesigned into a comprehensive, feature-rich information powerhouse. FindMyBestAgent.com, under new ownership by an insurance industry insider, has just re-launched to provide consumers with the most effective agent-finding tool available online while also offering agents an increased ability to connect with prospective clients.

Life Insurance Without Life Value: Why Young People Are Snubbing Financial Advice
This article is written by a 27 year old female (borderline Generation X / Y) called Rachel. Rachel spent six years at university, has no outstanding debts with the exception of government student loans.

Buy Term Life Insurance Online ? It's Quick And Easy
The purchase of term life insurance can be easy and painless. The online shopper can search the web for term life insurance rates and find enough information to make a decision very quickly. The key to shopping for life insurance is pre-determining the amount that you need and the type of term policy to cover that need. Once you resolve these two issues then you are able to go online knowing exactly what you are looking for and that is a major time saver.

Cheap Medical Insurance Companies
I don't know one person who wouldn't like to find cheap medical insurance companies, but it seems that inexpensive medical insurance is a thing of the past.

Shop Around For The Cheapest House Insurance Cover
When it comes to protecting your home it is essential that in order to get not only the cheapest policy but also the best deal available that you shop around on the net. The internet is a huge shopping centre and you can browse to your hearts content online and make sure you get the best bargain when it comes to getting the cheapest house insurance cover.

Alan Boswell Group Launches Business Insurance Deal for Les Routiers Members
Norwich-based business insurance specialist the Alan Boswell Group has announced an exclusive deal for UK members of the prestigious Les Routiers network.

Go To A Standalone Provider For The Best Deal In UK Mortgage Insurance
When it comes to getting the best deal on UK mortgage insurance then there is only one way to go and that is by doing your homework, shopping around and going with a standalone payment protection provider. A standalone provider will in most cases be able to offer you the cheapest quote on your mortgage insurance along with providing a quality product that is suited to your particular needs.

Enjoy A Writing Career And Health Insurance!
It?s no newsflash that writers love what they do ? writing. Whether they?re writing children?s books, science fiction novels, Harlequin romances, or feature articles for various magazines, you can usually find a writer with a pen in her hand or keyboard keys at her finger tips.

Life Insurance Toronto | Simple Steps To Reduce Your Insurance Bill
It really does not matters what kind of insurance a person is looking out for, one thing is for sure that everyone looks out for an insurance which is cheap and saves money Insurance is definitely an expense which no one likes to spend but you have to spend it to secure yourself from any adverse thing

Landing The Right Car Insurance
In getting insurance coverage for your sports car, you first need quotes from more than three companies to compare the rates and such One company?s perspective on sports car may differ from the other company?s policy

What Are Florida Car Insurance Requirements?
In Florida, the car insurance requirements are as follows: $10,000 for personal injury protection, also known as PIP, and $10,000 for property damage liability, also known as PDL.

Insurance Companies And Telephone Marketing
Have you ever wondered how insurance companies go about marketing their insurance policies? Aside from a company Web site, advertisements in the classifieds, and commercials? Many insurance companies get leads ? prospective clients ? by telephone marketing.

Single Travel Insurance
Are you leaving the country for a vacation or holiday Do you travel once a year and want to make sure you have insurance to cover anything that can go wrong