Agent satisfaction at record high in commercial lines, holds steady in personal

Independent insurance agents report unusually strong satisfaction with their carrier partners, especially on the commercial lines side, according to the newly released 2024 U.S. Independent Agent Satisfaction Study by J.D. Power, conducted in partnership with the Independent Insurance Agents & Brokers of America (IIABA).

While agents continue to navigate a tougher underwriting environment, carriers that invest in streamlined systems, stronger communication, and agent incentives appear to be retaining loyalty, the research suggests.

Commercial lines outpace personal lines

• Commercial lines satisfaction reached 781 (on a 1,000-point scale), up 19 points from 2023 — the highest level on record in the survey’s history.
• Personal lines satisfaction held at 774, essentially flat from a year ago. This marks the first time commercial lines satisfaction has outpaced personal lines in the study.

Headwinds in the agent-insurer relationship

The agent satisfaction study highlights several pressures facing independent agents:

• Stricter underwriting standards and more limited eligibility for new policies have made insurer-agent collaboration more fraught.
• Onboarding processes are perceived as less flexible, and agents report they must expend more effort to work with carriers.
• A growing share of agents—54 % in commercial lines and 62 % in personal lines—say they now proactively shop different carriers for clients more often than two years ago, largely seeking better coverage options or lower rates.

What distinguishes top-rated carriers

According to J.D. Power, insurers maintaining stronger relationships with agents do so by focusing on:

• Robust quoting tools that simplify the initial submission and comparison process
• Ongoing communication and education, including during the claims process
• Incentives such as cash rewards, trips and recognition programs

In the rankings:

• Erie Insurance ranked highest for personal lines with a score of 862
• Auto-Owners Insurance took the top spot in commercial lines for the fourth consecutive year with a score of 844
• In personal lines, Auto-Owners placed second (845), followed by The Hanover (800)
• In commercial lines, The Hartford (815) ranked second and Zurich (801) third

What it means for advisors and carrier partners

For insurance and financial advisors, this study underscores key strategy implications:

• Carriers that proactively support agents—with better systems, training, communication and incentives—stand a better chance of being considered a “go-to” partner in competitive markets.
• Agents are already reacting: Many are more frequently shopping alternatives for clients, which raises switching risk for insurers that don’t stay responsive.
• Advisors who align with carriers demonstrating strong agent satisfaction may benefit from more reliable service, smoother quoting/underwriting processes, and stronger support in client retention and acquisition.

The full study is based on 4,918 agent evaluations conducted from May to August 2024 across both commercial and personal lines.

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