HARRISBURG, Pa.–(BUSINESS WIRE)– Eighty percent of independent insurers and executives say mergers and acquisitions (M&A) are celebrated as an organizational success, according to a recent survey by Harris Poll instead of Keystone Agency Partners (KAP), the fastest growing, Business Insurance Top-100 in the national insurance group.
The 2022 Independent Insurance Agency Owners Study They also found that there is a desire to sell their company to other investors or investors who are supported by the public, which more than half (56 percent) of organizations say that they are interested or want to sell today. However, more than half (56 percent) of leaders say one of the benefits of being independent is being able to make their own business decisions.
“These findings show that the reluctance to sell is no due to the negative attitude of M&A companies. “In fact, it is linked to a lack of control when the owners are selling their organization,” he said. Dan Girardi, Chief Acquisitions Officer at KAP. “A partnership with permanent ownership solves this problem because it allows the owners to maintain a stake in the organization and preserve their independent spirit.”
When it comes to competing for international business, more than half of independent agencies (52 percent) report that they often win the business – citing their strong relationships with clients (63 percent) as the best driver for business success, followed by a high level of engagement with their customers ( 46 percent).
“Independent agencies have knowledge about the community and the risks that occur in the local business that the big insurance companies can’t replicate,” he said. Jeff Turner, CEO of KAP. “By allowing organizations to be autonomous while providing them with intelligent support and resources to grow the organization, KAP’s Connected Autonomy model gives new life to organization owners, harnessing their entrepreneurial spirit and empowering them.”
The findings of this study include:
- A smart deal are among the top factors (37 percent) that organizations believe will help them grow and compete in today’s marketplace.
The serious problems The organizations they are dealing with include attracting or retaining talent (40 percent), price competition (26 percent), the amount of money they can spend advertising/promotion (23 percent) and cybersecurity, data privacy and reduce digital risk (21 percent).
Organizations are interested in support services marketing and communications (71 percent), strategic planning (64 percent) and organic growth method (63 percent). Large corporations ($500k+) may be interested in helping creating new ones (65 percent), business studies (64 percent) and data analytics (61 percent) compared to smaller organizations.
Download all courses at: https://keystoneagencypartners.com/news/2022OwnersStudy.
Research method: The survey was conducted online in the United States by The Harris Poll on behalf of Keystone Agency Partners between April 11 and May 9, 2022, among 385 owners, sole proprietors, CEOs, and COOs of independent agencies. annual income insurance. $150,000 or more – a representative example of the market. The sampling accuracy of Harris online polls is measured using Bayesian confidence intervals. For this study, the sample data is accurate to within + 5.1 percent using a 95 percent confidence interval.
About Keystone Agency Partners
Keystone Agency Partners is a rapidly growing insurance platform that acquires and partners with independent insurance agencies in the United States. KAP offers the best services and capital that unlocks the potential and provides greater and more profitable growth within its organizations. Keystone Agency Partners was founded in 2020 in partnership with Keystone Insurers Group, Inc. and affiliates of Bain Capital, LP. For more information please visit: www.keystoneagencypartners.com.
About the Harris Poll
Harris Poll is a global consulting and market research firm that strives to uncover what today’s people have to inspire leaders to create a better tomorrow. It works with clients in three primary areas: creating a business profile for the twenty-first century, developing business strategies and tracking performance, and acquiring organic media through social media research. One of the longest-running polls in the US, The Harris Poll has tracked public opinion, motivation and sentiment since 1963, and is now part of Stagwell, an oppositional company built to revolutionize marketing.