According to the Big "I" 2022 Market Share Report, independent agencies are the clear leaders in commercial lines and also place 37% of all personal lines premiums. Overall, independent agents place approximately 62% of all P&C premiums written in the U.S. These facts may not be surprising to insurance agents or brokers who have made the decision to be independent, but this report shows how successful an independent agency can be.
Independent Agencies Lead Commercial Lines
Independent agencies place 62% of all property and casualty insurance written in the United States according to the Big "I" 2022 Market Share Report. The report highlights the dominance of independent agencies in commercial lines, finding that nearly 88% of all commercial lines written premium is placed by the independent agency channel.
Independent Agencies Lead in Personal & Unclassified Lines
According to the Big "I" 2022 Market Share Report, independent agencies in the U.S. place 37% of all personal lines premiums. Of the $765 billion in total premiums written in the U.S., personal lines account for approximately 50% of the total, just over 38% comes from commercial lines, and the remaining 12% is “unclassified" coverage that cannot be easily categorized as commercial or personal lines. Independent agents place approximately 85% of this “unclassified" business.
How Independent Agents Can Stay on Top
Affordable American Insurance has been driving success for independent agencies since 2004. Our unique network provides a business model for a captive insurance agency to transition to the independent world; or a platform for an existing independent agency to increase revenue and grow your business bigger, faster, more efficiently. Learn more here.