Contents

  1. Cover
  2. Editors Desk: Independent Agents and Captive Insurers
  3. Contents: Independent Agents and Emerging Leaders
  4. Calendars: Insurance Industry Events and Economic Calendar
  5. Executive Changes: New Roles and Retirements
  6. Executive Changes: Global Leadership Roles and Web Traffic
  7. Masthead Forestay and Insurance Marketing
  8. Insurance Marketing: Data Analytics and Social Media
  9. Risk Adviser: Homeowners Insurance and Agent Counsel
  10. Issues and Answers: Specialty Coverage and Home Health Care
  11. Issues and Answers: Home Health Care and Emerging Risks
  12. Captives: Ratings Criteria Methodology
  13. Captive Insurers Ranking and Cell Captives
  14. Cell Captives and Annuity Surrenders
  15. Annuities: Surrenders and Premium
  16. Asset Management: Life Insurers and Offshore Reinsurers Reliance
  17. Asset Management and Private Capital and Life Insurance
  18. Life Insurers and Private Capital and Asset Management
  19. Independent Agents: Insurers and Technology and Communication
  20. Independent Agents: Insurers and Relationship Strategy
  21. Independent Agents and India Non-Life Insurance
  22. India Insurers: Regulatory Oversight and Policy Wording Liberalization
  23. Bests Rankings: Multiperil Crop Insurers and Private Crop Insurers
  24. Emerging Leaders: Data and Analytics and Industry Advancement
  25. Emerging Leaders: Technology and Insurance Equalizer
  26. Emerging Leaders: Technology and Innovation
  27. What AM Best Says: January 1 Renewals and Moderating Trend
  28. What AM Best Says and Inland Marine
  29. Inland Marine: Pet Insurance and Travel Insurance
  30. Underwriting and Loss Control: Catastrophic Events and Hotel Insurance Risk
  31. State Rate Filings: New Jersey Homeowners Rate Hike and New Jersey Homeowners Multiperil
  32. Bookstore: Company History and Innovation and Leadership
  33. Preferred Podcasters: Wisdom and Management Tips and Insurance Focused Podcasts
  34. Preferred Publishers: Special Report and Insurance Talent and Innovation and Growth
  35. Trending Bests News and Trending Bests Research
  36. AM Best Webinars and Briefings and AM Best TV and Audio
  37. Industry Research: London Market Future and Enhanced Underwriting
  38. Bests Credit Ratings Actions: Americas Life Health and Property Casualty
  39. Bests Credit Rating Actions: Holding Companies and Financial Strength Ratings
  40. Bests Credit Rating Actions and Corporate Changes
  41. Corporate Changes and Insurance Professional Resources
  42. Artificial Intelligence and Masthead Backstay
  43. Back Cover
 
1 1
AM Best Reviews
Captive Criteria
Page 20
Best’s Rankings:
Largest India Insurers
Page 40
Best’s Rankings:
Largest Crop Insurers
Page 42
ISSUES & ANSWERS
Specialty Coverage
Starting on Page 17
March 2025 • Volume 126 • Issue 3
be
stsreview.ambest.com
AM BEST’S MONTHLY INSURANCE MAGAZINE

Growing Clout of

Independent

Agents

In the competition for independent agents, carriers
are turning to technology and expanding their
communication eorts.
Page 34
Best’s Review
Online Archives
Go to : 22
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http://bestsreview.ambest.com/
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https://bestsreview.ambest.com/archive.aspx
Go to : 19
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Independent Action
Best’s Review
examines how carriers have been seeking to strengthen
relationships with independent agents. The March issue also includes
rankings of the largest India insurers, the largest crop insurers and the largest
published, rated single-parent captive insurers.
Independent agents need support in a range of
key areas. When asked about their No. 1 challenge,
56% of agencies said it was finding carriers that will
maintain their commitment to their market, up
from 31% in 2022, according to a recent study.
The
2024
Agency Universe Study
provides a
comprehensive overview of the independent agency
system. The biennial study released by Future
One, a collaboration of the Independent Insurance
Agents of America and leading independent
agency companies, underscores the importance of
maintaining strong agency-carrier relationships,
especially in the current market, according to a
study summary.
Some of the key findings:
• The hard market is top of mind for agencies
with 56% of agents saying that developing
talking points for customers about the hard
market and coverages is one of the most
important factors to succeed.
• As many as 21% of agencies say carriers are
meeting the market challenges extremely poorly,
while 68% believe carriers are meeting the
market challenges moderately well. However,
11% of agencies believe carriers are meeting the
challenges of the hard market extremely well.
• Dealing with multiple carrier interfaces was the
No. 1 technology issue for agents.
• Another key concern for agents was emerging
purchase channels. One-third believe their
agency will be impacted by personal lines and
small commercial lines products purchased
directly through insurance companies, non-
insurance websites and emerging online
channels. However, nearly half of agencies
believe the independent agency channel is
extremely resilient to marketplace changes.
March is Independent Agent Awareness Month.
In “Technology, Communication Are Front and
Center as Insurers Vie for Independent Agents’
Business,”
Best’s Review
reports on the ways
insurance carriers are working with independent
agents.
The March issue of
Best’s Review
also focuses on
captive insurance. In “AM Best Reviews Potential
Changes to Ratings Criteria Methodology for Fast-
Growing Captive Categories,”
Best’s Review
reports
on proposed revisions to AM Best’s
Alternative
Risk Transfer
criteria, which forms part of its
methodology used for rating captives, risk retention
groups, self-insurance funds and cell companies.
In “Lower-Cost Cell Captives Emerge as Groups’
Risk Management Program,”
Best’s Review
discusses
the industry’s increasing interest in cell captives.
As part of its mission,
Best’s Review
seeks to
provide readers with a comprehensive, broad view
of key happenings in the global insurance industry.
Best’s Review
has been expanding coverage, for
example, of insurance publishers and podcasters.
Best’s Review
last month also began a monthly
listing of insurance industry reports and expanded
coverage of industry events, with a listing of key
global economic events.
The March issue also includes rankings of the
largest India insurers, the largest crop insurers and
the largest published, rated single-parent captives.
Patricia Vowinkel
Executive Editor
patricia.vowinkel@ambest.com
What’s Coming Up
The April issue of
Best’s Review
will provide coverage of evolving commercial risks and a ranking of the
largest Asia-Pacific insurers.
BEST’S REVIEW
•
MARCH 
1
From the Editor’s Desk
mailto:patricia.vowinkel@ambest.com