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Editor’s Note: This is the first of four articles on the Trusted Choice brand and what it means to you.
Between 2004 and 2007 independent agents and brokers lost 4.3% personal lines market share to direct writers. Each 1% of lost market share equals about $2 billion in premium and $200 million in agency commission. GEICO alone is planning to spend $1 BILLION this year on its brand.
Having a brand is important and it helps consumers edit choices, attracts good employees and partners and enables you to expand product and services. In addition, a good brand builds customer loyalty and referrals.
Consumers want choice, customization and advocacy, but they don’t know that independent agents offer those features.
Trusted Choice® is a national consumer branding initiative, created by IIABA for member agents and includes supporting companies. Trusted Choice features a comprehensive national-local branding strategy based on significant consumer research, and it aggressively positions independent agents as the source for choice, customization and advocacy for consumers
A new IBA West benefit, effective Sept. 1, allows member agencies to access and use the Trusted Choice national branding tools at no additional fee. The additional benefit includes:
To take advantage of this new branding benefit, IBA West members must agree to the Trusted Choice licensing agreement and pledge of performance. The links below will guide you through the online registration process and you’ll be ready to “build your brand” through Trusted Choice.
Mark your calendars: Wednesday, Oct. 13 at 10 a.m. PDT for a live webinar on how to integrate your agency brand within Trusted Choice. To register, click here.