Is There a Future for the Independent Agency?

jimOAA and its 135 member agencies, held our Annual Success Celebration last week where we gathered to celebrate our collective success in the past year.  That event was highlighted by the attendance, and remarks, of Jim Masiello the founder of SIAA, which OAA is a part of.

During one session with Jim I asked “how confident are you about the future of the independent agent?”  I pointed out that he has two 12 year old grandsons and I have to sons in college.  I asked “would you recommend that they consider the business for their careers?”  Without reservation Jim’s answer was yes!

Interestingly, the current issue of the Insurance Journal contains the results from the “2017 Young Agents Survey”.  The results indicate that young agents agree with Jim.  According to the survey 58.1% are very optimistic about their career while 29.2% are optimistic.  Thirty seven point nine of these same agents are very optimistic about the future of the independent agency system while 41.5% are optimistic.

Overwhelmingly, those in whose hands the future of our industry rests, believe we have a bright future!  I agree with them.

Those who read my postings here will note I believe that our business will be changing over the next few years.  But I also believe we aren’t going away.  The independent agent’s fundamental value proposition of choice, advocacy and trusted relationship is more valued than ever, by more consumers than ever, as indicated in other surveys of consumer attitudes.

With all of this optimism it is certainly a privilege to participate in the creation of dozens of new agencies each year here at OAA!  How can we help you move forward with your business and career?

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