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in On Point

Insurance Is a Commodity? Think Again!

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Recent studies and opinions have suggested that the value of the independent agent is waning and that auto insurance in particular is a commodity, with price the only differentiator. "Not so," says Bill Wilson, who oversees IIABA's Virtual University. If you don't know Bill, trust us: He's an expert when it comes to insurance forms and coverages. There are huge differences among auto policies, says Bill. For example, the standard ISO auto form is 13 pages in length. But he recently reviewed a form from a carrier in Florida that had a 76-page auto policy. Clearly, there are differences.

As a bonus, Bill offers some excellent insight into our industry's response to the "sharing economy" and disruptive technologies such as the Google self-driving car.

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