Fee vs. commission-based services, an infographic

A recent survey to more than 900 brokers by Zywave, a company which specializes in software solutions for insurance brokers, found that the market is starting to shift to fee-based pricing for consultative services offered by insurance agencies. A small pool of the polled insurers indicated that they are already charging fees, while most of them are beginning to test the waters, are still thinking about it or just don’t feel comfortable charging fees, yet.

The survey also found that most of the new business is coming via referrals, cold calling, centers of influence and strategic referral groups, and complimentary services like human resources, risk management and other departments.