3 Things – Root Independents, New Business Models & Progressive Hiring – 7/09/2021

Hi All!  This week we are following Root’s plan for independent agents, insurance business models, Progressive hiring and Broker M&A.  Here are the three things we learned this week:


Root Independent Agents?

Is Root going to add an independent agent channel?  This would be an interesting strategy.  Their customer acquisition costs and expenses in general are causing them to lose money rapidly, we expect their accumulated loss could near $1B in a few weeks when the post Q2 earnings.  Adding an independent producer channel will add even more cost.


Insurance Business Models

Thanks to Insurance Thought Leadership we were reintroduced to the futurist thinking of Peter Diamandis, whom we met at IASA back in 2013 as a keynote speaker.  He lays out 7 new business models in a blog post and ITL provides additional commentary.  We are helping organizations with new business models to distribute insurance and this important to the evolution of insurance.


Progressive Hiring

Progressive announced this week they are hiring 6,400 new associates by the end of the year.  This is a big hiring spree and many of the open positions for call center roles.  More proof that human interaction is important in the insurance purchasing process and policy servicing.  Bonus #4 Broker M&A activity hit record levels in the first half of 2021.  Acrisure continues to be the most acquisitive of all by far.

Thank you for following us, we appreciate your feedback and continued support.  Stay productive, stay safe and stay in touch!