NU Online News Service, Nov. 17, 2003, 1:30 p.m. EST – Independent agents participating in a recent survey named the Hartford Financial Services Group Inc., Hartford, as a clear favorite in both the life/health and property/casualty segments of the industry.
Prudential, Pacific Life and John Hancock also were named as favorites among independent life/health agents, says the survey sponsor, Celent Communications Inc., Boston.
At the same time, independent insurance producers have relatively few favorite carriers and spread their new business across three carriers or more, Celent found.
Celent’s study concludes that insurance carriers on both sides of the industry need to do a better job of positioning themselves with producers.
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“The vast majority of carriers don’t give independent producers the right suite of products, services and technology to meet their needs,” says Craig Weber, author of Celent’s “Independent Producer Survey,” which it published in both life/health and property/casualty editions. “The result is that distribution investments are often wasted.”