Central Coast Agent
Expert
- 54
I read this article from last week's insurance journal and had some thoughts and a question;
Insurance Agents Urged to Follow Overstock.com, Insuritas Online Sales Model
I basically sell commercial P&C and health, no personal lines, to the small business market. I can see how competing against names like Amazon, Wall-mart and Overstock could be a significant threat in this market.
However, I can't see them selling a doctor's office a Professional Liability policy for instance, or any other type of specialty insurance, like to contractors.
The article makes me think that within the next few years, insurance lines such as health, auto, home, BOP's and Workers Comp (small market) will be severely impacted by the big retailers selling online or in store.
But as far as specialty lines, PL, D&O, EPLI and other professional type policies, I think it may be a little bit longer before there is a paradigm shift away from agents to strictly online.
What are your thoughts? Is specialization the key to survival and for how long?
Insurance Agents Urged to Follow Overstock.com, Insuritas Online Sales Model
I basically sell commercial P&C and health, no personal lines, to the small business market. I can see how competing against names like Amazon, Wall-mart and Overstock could be a significant threat in this market.
However, I can't see them selling a doctor's office a Professional Liability policy for instance, or any other type of specialty insurance, like to contractors.
The article makes me think that within the next few years, insurance lines such as health, auto, home, BOP's and Workers Comp (small market) will be severely impacted by the big retailers selling online or in store.
But as far as specialty lines, PL, D&O, EPLI and other professional type policies, I think it may be a little bit longer before there is a paradigm shift away from agents to strictly online.
What are your thoughts? Is specialization the key to survival and for how long?
