The decline of insurance agents

In 2010, the contribution of insurance agents in the collection of premiums fell by 5 points. From 37% in 2009, it went down to 32% in 2010. Premiums collected by the networks during the previous year amounted to 71.5 billion USD. This decrease was reported despite a 12% increase in the number of agents.

There were 3 298 000 insurance agents by December 31, 2010. The average annual commission perceived per agent has fallen by 14% over the same period down to 2600 USD. The recourse by companies to new distribution channels, including internet and telephone, has also restricted the activities of agents.

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