Value was cited as the reason that almost 60% of surveyed
consumers in the United States who purchased insurance through a direct channel
10 or more years ago reported switching back to an independent agent.
A study commissioned by The Hanover Insurance Group Inc., a
property and casualty insurer based in Worcester, Mass., shows that most
respondents who switched to direct insurers – promises of lower prices was a
key motivator – later returned to an independent agent.
Conducted by InsightExpress, the study included input from
1,000 consumers who purchased insurance through direct channels 10 or more
years ago.
Most consumers who switched back to independent agents cited
expertise and convenience as drivers in their decision, notes a statement from
The Hanover. Among other things, respondents also cited the benefits of having
one point of contact to handle insurance needs and questions, the statement
adds.
“The majority of respondents said their number one reason
for switching from a direct insurance provider was to have someone to guide
them through their insurance-buying decisions,” says Mark Desrochers, president
of personal lines insurance at The Hanover.
“The study shows that consumers realize the value that
independent agents bring. That’s why we deliver our products exclusively through
agents,” adds Dick Lavey, president of field operations and chief marketing
officer at The Hanover.
DAILY NEWS Aug 8, 2013 10:59 AM
