Click to show search form. Click to show mobile menu. Home State of the Agency – 2021 report How will your agency operate in the future? State of the Agency – 2021 report In the wake of a worldwide pandemic and rapidly evolving market conditions, independent agents are embracing – and thriving in – a more progressive work environment. This is the major trend revealed in our survey of more than 500 independent agency owners across the country, taken over the summer of 2021. The responses we received paint a picture of the industry's future, with agencies expected to offer additional employee flexibility, engage more with customers, and embrace technology to enhance customer and employee experiences. Play Video Agency operations Our survey found that the pandemic presented agents with an opportunity to reimagine their workplaces. 2 in 3 agencies expect to keep the remote/hybrid model for their workplace 88% of agencies are open to visitors 45% have enacted safety measures - e.g. requiring masks, health screenings Agency resilience Despite the challenges presented by the pandemic, our report found that: 72% of independent agencies reported increased customer retention 62% reported agency growth "Customers have remained loyal to their independent agents. As agency owners look to the future, it’s more important than ever that agents maintain strong retention, working with carriers that can support – and continue to enhance – business models with increased flexibility for staff and increased digital accessibility and services to take customer and employee experiences to the next level." – Dick Lavey, President, Hanover Agency Markets Read Independent Agent article Additional recent trends, reported by agents like you: Customer relationships Increased use - and approval - of digital interfacing, especially DocuSign A decrease in cash payments Increased preference for transacting business by phone, email or text Improved agency efficiency due to fewer in-person visits Technology Agencies quicker to adapt to new technology Tapping into more ways to communicate with customers Commitment to remaining up to date on developing technologies Considering closing locations and moving to the cloud Emergency preparedness Disaster recovery plans work Minimized impact of inclement weather to operations Remote work options Steady or improved productivity Aids in attracting and retaining employees Increased focus on communication needed to keep engagement and motivation high New challenges in training, onboarding and mentoring employees Agency growth and retention checklist As you seek to set your agency apart from your competition, you can expect to continue to face challenging market conditions as many agencies try to re-imagine the future of their businesses. This checklist is based on conversations conducted with our survey that revealed trends, developments and evolving agency best practices, to help you retain momentum in the marketplace. Stay ahead of trends – Independent agents who understand emerging risks, such as extreme weather, cyber concerns, and workplace safety, will earn customer trust. Embrace technology – Online, web- and mobile-based service tools keep today’s modern customer engaged, and agencies efficient. Offer complete coverage – Independent agents have an opportunity to grow their business by writing the total account for customers. This practice can foster customer loyalty and help an agency grow its business. Communicate with customers – Increased communication builds customer relationships that last. Encourage customers to provide multiple points of contact, and establish regular touchpoints throughout their policy period. Work directly with underwriters – Partnering with carriers who offer a direct, local underwriting model can help you with more complicated and complex accounts. This enables you to offer the greatest flexibility and choice to tailor accounts for each customer. Retain talent – Employees expect the continued flexibility they experienced as a result of the pandemic. Agencies that offer remote working options will experience higher volumes of employee retention. "The support of strategic carrier partnerships with advanced technologies help agencies thoughtfully address any obstacle customers may face. Additionally, the independent agent model continues to thrive and innovate in a modern working environment by being flexible with employees.” – Angela Roman-Grimaldi, Vice President, Enterprise Distribution at The Hanover We're dedicated to the success – and the future – of the independent agency channel Talk to your Hanover representative to see how The Hanover offers the service and innovations you need to continue meeting the evolving expectations of your customers – and build the agency of the future. Navigation THE HANOVER INSURANCE GROUP 440 Lincoln Street Worcester, MA 01653 508-855-1000 The Hanover Careers Investors Reviews Suppliers For customers and agents My Hanover Policy For agents Products and solutions Individuals Businesses Claims services Billing services Prepare now. Learn how. Legal and compliance Accessibility Fraud protection Terms and conditions Privacy center Governance Legal notices Producer compensation disclosure © 2021 The Hanover Insurance Group, Inc. 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