Four Producer Barriers to Your MGA/MGU’s Expanding Market Share
Across the insurance industry, independent agencies increasingly struggle to attract and retain the talent they need to remain profitable and continue to expand market share for the years and decades to come. Between the impacts of the COVID-19 pandemic on the entire American workforce, the aging American population, and the specifically retirement-ready demographic of the insurance industry, the “talent gap” is extremely real.
As the insurance industry talent landscape becomes more competitive, producer experience will be a true differentiator. How your producers and downstream agency partners feel about working with you will play a key role in their decision to stay with your managing general agency (MGA/MGU).
Read on to learn four common barriers insurance agencies face and how you can address them at your MGA/MGU (yes, even the hairy kinds with upstream and downstream partners).