Property & Casualty Insurance Companies for Independent Agents

Independent insurance agents face the challenge of satisfying diverse client needs while maintaining their position in a competitive insurance market. A critical factor that impacts independent agents’ success is the property and casualty (P&C) insurance companies they partner with. These partnerships significantly impact agents’ ability to provide competitive offerings and handle complex claims while maintaining profitability.

But why do these partnerships matter? 

Property and casualty insurance companies for independent agents equip them with resources, tools, and a comprehensive portfolio of products catering to individual and business clients. From customizable policy options to robust operational support, these companies empower agents to enhance client relationships and grow their business.

This article discusses top P&C insurance companies, the benefits of working with them, and tips for identifying the best partners so that independent agents can make informed decisions that drive long-term success.

Key takeaways

• Partnering with reputable property and casualty insurance companies ensures access to various policy choices that address varied client needs, from homeowners to commercial businesses.
• Sometimes, it’s increasingly challenging to get direct access to insurance carriers. However, Insurance aggregators such as First Connect (FC) can provide agents and agencies easy access to multiple top-rated carriers.
• The top P&C insurance companies prioritize innovation, agent support, and efficient claims processing, making them ideal partners for independent agents.
• Agents who partner with financially stable and technologically advanced insurers gain a competitive edge in the evolving insurance industry.
• By leveraging these companies’ tools, training, and resources, independent agents can streamline operations, improve profitability, and build long-lasting client relationships.

Top 10 property and casualty insurance companies

Selecting the right property and casualty insurance company is crucial for any independent agent. However, getting direct access to carriers can be tricky and may come with challenges, such as barriers to entry. First Connect (FC) may help streamline the process, providing agents more efficient access to the right options.

That being said, let’s explore the top 10 P&C insurance companies and what makes each an excellent partner for agents.

State Farm

State Farm is the largest property & casualty insurance company in the United States, offering agents unmatched support and resources. With a high market share that reflects its dominance, State Farm delivers a comprehensive suite of policies, from auto and home to business insurance. 

Features

• With a vast network of agents, State Farm emphasizes strong agent relationships, providing comprehensive training programs and marketing support.
• State Farm also invests heavily in digital tools. For instance, it partnered with Intelliflo to provide agents with a user-friendly digital wealth platform for expanding their financial advice services.
• State Farm provides small insurance agencies a competitive commission structure that rewards high-volume agents.

This collaboration allows agents to access sophisticated, scalable tools that improve financial planning, investment management, and overall customer experience. 

Openly

Openly is an innovative property insurance provider focused on simplifying the quoting and binding process for independent agents. Leveraging advanced technology, it delivers comprehensive homeowner coverage and transparent pricing, giving agents a reliable partner to meet modern consumer expectations.

Features

• Agents benefit from a lightning-fast quoting process that reduces time-consuming steps, allowing them to serve clients more efficiently.
• Its robust policies offer flexible coverage options designed to meet the unique needs of today’s homeowners.
• Openly provides clear and upfront pricing, empowering agents to confidently present options to their clients.

Allstate

Allstate is synonymous with innovation and client-focused service. Independent agents benefit from Allstate’s wide array of customizable policies catering to personal and commercial clients.

Features

• Allstate also offers a comprehensive training program, which includes live webinars, recorded sessions, and various support materials to enhance product knowledge and service skills.
• The marketing team provides a portfolio of materials, including videos, flyers, and infographics, to assist with client engagement and sales efforts. 
• Allstate offers independent agents a competitive and flexible commission structure and bonus programs designed to reward performance. Once appointed, agents gain access to detailed commission information through the broker portal MyAccess, ensuring transparency and control over their earnings.

Progressive Insurance

Progressive Insurance’s reputation as a leader in auto insurance extends to a wide array of property and casualty products, giving agents the flexibility to address diverse client needs.  Beyond its foundational auto offerings, Progressive has strategically invested in various insurance lines, allowing agents to present well-rounded, customized packages to clients. This helps agents secure stronger, more enduring client relationships.

Features

• The company’s emphasis on technology, including telematics and predictive analytics, keeps agents competitive in a data-driven industry.
• Their ForAgentsOnly portal centralizes all essential resources, from training modules to commission management, offering agents unparalleled convenience.

Liberty Mutual Insurance

Liberty Mutual, one of the world’s leading property and casualty insurers, became the second-largest carrier in the independent agent channel following its acquisition of State Auto Group. Liberty Mutual offers agents the advantage of a global insurance powerhouse and a focus on customized client solutions.  

Features

• With a strong emphasis on commercial insurance, Liberty Mutual equips agents to serve small businesses and specialty industries through tailored coverage policy options.
•  Their extensive loss prevention programs and dedicated claims service help agents build lasting client trust.
• Liberty Mutual also provides co-branded advertising support and e-mail campaigns, enabling agents to enhance their visibility in local markets. 

Foremost Insurance

Foremost Insurance specializes in providing tailored property and casualty insurance solutions for unique and non-standard risks, making it an excellent option for independent agents. With a broad product portfolio and industry expertise, Foremost helps agents address niche markets effectively.

Features

• Offers specialized coverage options, including policies for mobile homes, vacant properties, and rental properties, catering to diverse client needs.
• Known for its reliable claims handling and customer support, ensuring a smooth experience for both agents and policyholders.
• Partners with independent agents to provide education and marketing resources, helping them expand their reach and better serve niche markets.
• Foremost’s flexibility in underwriting complex or unconventional risks positions it as a go-to carrier for challenging cases.

Next Insurance

Next Insurance is a tech-driven insurance provider designed to meet the evolving needs of small businesses and independent contractors. Its innovative approach and streamlined processes make it a strong partner for independent agents looking to serve commercial clients efficiently.

Features

• Delivers quick and fully online quoting and binding, enabling agents to secure coverage for clients in minutes.

• Focuses on small business insurance, offering tailored policies like general liability, workers’ compensation, and professional liability.
• Empowers agents with AI-driven insights and analytics to better identify client needs and deliver optimized coverage solutions.

Nationwide

Nationwide is a leading name in the property and casualty insurance industry. It is known for its financial strength, customer-focused approach, and commitment to innovation. The company’s complete transition to a fully independent agency model highlights its focus on empowering agents by providing specialized resources to serve their clients better. 

Features

• Its agency council actively listens to agent feedback to improve services and resources.
• For Elite Agents, the company provides exclusive tools and specialized protection tailored to meet the unique demands of high-performing agencies.
• Appointed agents gain access to a personalized contact directory for streamlined support and benefit from dedicated sales planning with a sales manager to help drive growth.

Farmers

Farmers consist of three reciprocal insurers, which means they are owned and run by their policyholders. These are:

• Farmers Insurance Exchange
• Fire Insurance Exchange
• Truck Insurance Exchange

Together with their subsidiaries and affiliates, these insurers form one of the largest property and casualty insurance groups in the U.S. Farmers provide insurance for homes, vehicles, and small businesses. The company works with over 48,000 independent and captive agents, serving more than 10 million households. They also wrote over 19 million individual policies across all 50 states.

Features

• Farmers Insurance provides extensive training programs and mentorship opportunities. New agents can benefit from their hands-on guidance, ensuring they’re equipped to succeed in a competitive market.
• The company’s marketing team also provides customizable advertising materials, including co-branded campaigns, to enhance agents’ local visibility.
• The insurance carrier serves over 10 million households with policies for homes, vehicles, and small businesses. Often, agents find companies with competitive rates for home or auto policies the best because they can sell more and earn more.

Zurich

Zurich is a global multiline insurer with a wide range of property and casualty insurance products. They offer personal insurance for cars, homes, general liability, and travel. The insurance giant also provides commercial insurance for cyber risks, financial institutions, professional liability, marine, and trade credit.

In addition to P&C insurance, Zurich offers claims management, life insurance, and captive services. 

Features

• Its robust training programs focus on specialized markets and help equip agents to handle complex coverage options such as environmental liability and cyber insurance.
• Zurich supports its agents with cutting-edge tools, including the Zurich Risk Advisor app, which empowers agents to provide on-the-spot risk assessments and recommendations.

Benefits of working with a property and casualty insurance company as an independent agent

Being an independent insurance agent offers a unique and rewarding career path. When you partner with the best property and casualty insurance companies, the opportunities to grow, earn, and make a difference expand significantly.

Here are a few benefits of working with property and casualty insurers.

Access to multiple products

Property and casualty insurance covers various policies, including auto, home, renters, and business insurance. 

As an independent agent working with property & casualty insurance companies, you can offer various products to meet your clients’ needs. This broad selection allows you to serve more customers and build stronger relationships as their go-to resource for insurance.

Increased earning potential

Partnering with top property and casualty insurance companies often comes with competitive commissions and bonus opportunities. 

As you sell more policies and retain clients, your income grows. Plus, since you’re independent, you can work with multiple carriers. This boosts your earning potential by enabling you to find the best fit for each client.

Flexibility and independence

If you’re an independent agent, you’re in charge of yourself and your business. You can set your schedule, choose where to work, and decide which companies to partner with. 

A P&C insurance company gives you the tools and support you need to succeed while allowing you to maintain control over your business.

Support and training

Many P&C insurance companies offer resources to help independent agents succeed. These include training programs, marketing tools, and technology platforms. 

Whether you’re new to the industry or experienced, these resources make it easier to build your client base and improve your sales skills.

Building long-term relationships

Insurance is about trust. By working with a P&C company, you can offer reliable coverage from a trusted provider. 

This helps you build long-term relationships with clients who rely on you for protection and peace of mind. Over time, these relationships can lead to repeat business and referrals.

Opportunities for growth

Partnering with a P&C insurance company gives you room to grow. Whether you want to specialize in certain types of insurance, expand into new markets, or build a team of agents, the support and resources provided by these companies can help you achieve your goals.

Tips for selecting the best property and casualty insurance company to optimize your business 

For independent agents or agencies, choosing the right property and casualty insurance company is important. This is because it helps agents expand their portfolio, boost their earnings, and provide better client service. 

We’ve rounded up some actionable tips to help independent agents choose the right property and casualty company and increase their bottom line. 

Look for competitive commissions

Commissions are a big part of your earnings as an independent agent. When you select a P&C insurance company, make sure to compare the commission rates they offer. 

A company with competitive payouts can significantly increase your income over time. Don’t forget to check for bonuses or incentives for high performance, as these can be great motivators.

Assess barriers to entry 

Not all insurance companies have the same onboarding requirements. Some demand extensive experience, while others welcome newer agents. 

When you review potential partnerships, consider the following: 

• Experience requirements: Look for carriers that align with your level of expertise. 
• Production minimums: Choose insurers with achievable sales targets to avoid unnecessary pressure.
• Appointment fees: Ensure you understand any upfront costs associated with joining. 

For newer agents, companies with low barriers to entry and minimal red tape can be the perfect starting point.

Evaluate the appointment process

The appointment process is how you get authorized to sell a company’s policies. A smooth and quick process saves time and helps you start selling faster. 

Check how long it takes to get appointed and whether the company offers support to guide you through the steps.

Review the types of policies offered

The more types of policies you can offer, the more clients you can serve. 

Look for a company that provides a wide range of P&C insurance products, like auto, home, renters, and commercial insurance. This variety lets you meet different client needs and grow your portfolio.

Consider the company’s rates

Clients often prioritize affordability, so competitive rates are important. The best P&C insurance companies offer competitive rates for home, auto, and other insurance types.

This is because – whether you’re an independent agent or a small insurance agency – it helps make policies more appealing to clients, increasing sales and, in turn, your overall earnings.

Research the company’s pricing structure to ensure it’s reasonable and aligns with the market. Carriers with flexible underwriting and discounts, such as bundling options, loyalty rewards, or safety feature credits, can help you attract more clients.

Check reputation

A company’s reputation and financial stability are crucial indicators of its reliability. Clients need confidence that their claims will be paid promptly and fairly.

To assess reputation, look for:

• Financial ratings: Agencies such as A.M. Best or Moody’s provide scores on financial health.

• Client reviews: Positive customer feedback signals strong service and claims handling.

• Industry recognition: Awards or rankings that highlight the company’s excellence.

Agents working with reputable and financially sound insurers can build trust with their clients more easily.

Look for support and resources

The best property & casualty insurers invest in their agents. Look for a carrier that offers training, marketing tools, and tech platforms to simplify your work. These resources can help you improve your skills and streamline operations.

Final thoughts

By now, you know how crucial it is to partner with the right property and casualty insurance companies for independent agents to grow their business. 

Make sure to evaluate different factors such as commission structures, competitive rates, policy variety, and support systems when you plan to collaborate with property & casualty insurers. This will help you create a portfolio that meets client needs and maximizes earning potential. 

Also, stay informed about industry trends and continue building strong relationships with insurers to remain competitive in the evolving market.

If you still find it hard to choose the right P&C insurance companies, let First Connect help guide you through the process and find the perfect fit to partner with and sell policies. 

FAQ

Who is the largest property and casualty insurer?

The largest property and casualty insurer in the United States is State Farm, which holds a significant market share due to its extensive offerings and nationwide presence.

What is the hardest part of being a property and casualty insurance agent?

The hardest part of being a property and casualty insurance agent is to navigate a competitive market while maintaining strong client relationships. Agents must stay updated on industry trends and offer tailored solutions to stand out.

What is the largest expense most P&C insurers face?

The largest expense most P&C insurers face is claims payouts. It’s challenging for most P&C insurance companies to manage claims efficiently and maintain profitability.

What is the outlook for the P&C market?

The outlook for the property and casualty market is positive, with growth driven by technological advancements, evolving customer needs, and new risk management solutions. According to one report, the Global Property and Casualty Insurance market was valued at $3.6 trillion in 2023 and is expected to grow to $5.3 trillion by 2030, with an annual growth rate of 5.9%. However, agents should stay prepared for challenges such as regulatory changes and economic fluctuations.