Nationwide Insurance Switching to Independent Agency Distribution Model by 2020

Insurance Journal is reporting that Nationwide is giving 2,000 agents an opportunity to transition to Independent Agents. The Columbus, Ohio-based carrier, which provides a range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance, sells products through both exclusive and independent agents.

The company said the plan is to shift entirely to the independent agency distribution model by July 1, 2020.

Roughly 2,000 existing insurance agents operating under the Nationwide brand will have the opportunity to transition to an independent agency model between now and then, according to the company, which said it already has relationships with more than 10,000 independent agents across the U.S.

“We don’t anticipate any changes for members,” Mark Berven, president and chief operating officer of Nationwide Property & Casualty, said in a statement. “Agents will continue to serve members as they have in the past and still have access to Nationwide’s broad range of insurance and financial services products.”

You can read the full article, here.

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