Ivans Reveals 2024 Agency-Insurer Connectivity Trends

Ivans' Agency Digital Technology Adoption Trends report highlights evolving dynamics between agents and insurers in the digital age. The findings reveal that while agents increasingly favor technology-driven connectivity, insurers and managing general agents (MGAs) continue to emphasize personal interactions.

Survey results demonstrate a strong preference among agents for insurers that streamline workflows through digital solutions. "Our data continues to show that while agents and insurers are not aligned on technology adoption today, both sides will collectively grow as they further invest in digital connectivity," Reid Holzworth, Ivans' chief executive officer, said.

Key findings include the following.

• Quoting efficiency: Agents prioritize insurers that offer rapid quoting and integrated systems within agency management platforms.
• Access to appetite: Eighty-seven percent of agents would increase business with insurers providing real-time appetite and quoting tools. Conversely, 76 percent report losing opportunities due to market access challenges.
• Insurer expansion goals: Seventy-six percent of insurers seek new agency partnerships, with a twenty-two percent increase in agency visits compared to the prior year. Industry events remain a primary recruitment method.
• Commercial lines trends: While more agents use insurer portals for commercial quoting (55 percent, up 5 percent), only 32 percent prefer this method.
• Excess and surplus (E&S) market growth: Forty-eight percent of agents report increased engagement with E&S firms, and eighty-four percent desire digital connectivity comparable to traditional markets.
• Data-driven decisions: Ninety-five percent of insurers employ data analytics tools to enhance decision-making, mirroring agents' interest in leveraging data for partnership and workflow optimization.

The findings reflect a growing need for alignment in technology adoption between agents and insurers. Automation and quoting tools remain pivotal for bridging this divide, helping insurers expand distribution while meeting agent demand for seamless digital workflows.

The report is based on 1,456 survey responses from agents, insurers, MGAs, and other professionals. Participants voluntarily completed an online survey focusing on digital connectivity preferences and technology use.