Independent insurance agents sell the products of multiple insurance agents. With an array of options, the independent agent has the advantage of comparing prices and products that best suit the protection needs of customers. Even in situations where an independent agent may have most of his business with one company, the agent is free to sell a policy from another insurer if the primary insurer declines to underwrite coverage for a client.
In a competitive marketplace, independent agents also have the advantage of diversifying the insurance products they sell and thereby increasing revenue streams. This cross-selling capability also benefits customers because they can conveniently purchase various types of insurance through one agent, saving them significant time in researching companies and processing paperwork. Independent agents that provide valuable expertise and comprehensive services build strong customer loyalty.
Independent agents are free from the strict regulations of a parent company that are often placed on captive employees. While independent agents work hard to build their businesses, they are compensated with the autonomy to choose the products they sell and the freedom to design their own schedules.