What is with all of the Insurance Tech Startups now wanting to Partner with Agents?

[marindependent]

Remeber when all of those insurance startups...started up ....telling the world that they would no longer need insurance agents? An agentless world was a better world? As if the agent was the problem?

That all seems to have changed. My office has received at least 3 invitations to get P&C appointed with some of these insurers in recent months. Without naming any them, one of them is the epitome of the agentless insurer. Cracks me up.

Even Geico [and I do not consider Geico a tech startup for the record], seems to be relenting [a bit] by opening up local offices.

 

[AZDave]

They have nothing new to offer and after losing a bunch of money realize they need for the indy agent channel.

I keep getting information from NEXT. Just saw this yesterday:
"At NEXT, we’re always looking for ways to better assess risk. And occasionally we evaluate the viability of the policies offered to each of the thousands of business types we currently focus on.


As a result of a recent evaluation, we’ve decided to discontinue the availability of new workers’ compensation quotes and policies for tree services.

 

[AZDave]

Hit the post button too fast - meant to end with - they have no clue with some offerings and coverage.
Dave

 

[myfakename]

The truth is we sell something you cant touch, feel, see etc. There will be buyers that want the cheapest, online option. These companies will eventually realize if they want to get to the better insureds they will have to use agents.

 

[Markthebroker]

Remeber when all of those insurance startups...started up ....telling the world that they would no longer need insurance agents? An agentless world was a better world? As if the agent was the problem?

That all seems to have changed. My office has received at least 3 invitations to get P&C appointed with some of these insurers in recent months. Without naming any them, one of them is the epitome of the agentless insurer. Cracks me up.

Even Geico [and I do not consider Geico a tech startup for the record], seems to be relenting [a bit] by opening up local offices.

Frankly, I'm more than busy enough with people that want to work with me, I hadn't really even been paying attention, but yes, now that you mention it, I was just contacted by NEXT insurance, that runs ads all the time on the internet for "agentless online insurance".