How Insurance Agents will need to Conduct Business in the Future in Order to Compete and Survive

I am often asked about my take on the future of the insurance industry.  The industry is not going anywhere, that is for certain.  However, I do expect to see a drop in the number of agencies, especially in the independent insurance agency sector, because many will not mold their business practices and processes in time to handle the changes that are taking place.  The competition will slowly eat away chunks of their business by simply implementing low-cost or even no cost initiatives, only because they had the foresight to do so.

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