SIAA, the nation’s largest alliance of independent insurance agencies
, has announced a new partnership with Progressive that will expand members’ access to both personal and commercial lines options.
SIAA and Progressive’s partnership is a strategic decision at a time
when both personal and commercial lines continue to experience market pressures, limited capacity and stricter underwr
iting requirements. Progressive’s
ongoing commitment to the independent agency sector, proven underwriting ri
gor and data-driven approach aligns well with SIAA’s focus on providing sustainable, profitable growth avenues to their member agents.
“For more than three decades, SIAA has committed to providing inde
pendent agencies with clear paths to positive business growth. Partnerin
g with Progressive is yet another step in lowering barriers to entry for our member agents for in-demand personal and c
ommercial lines solutions,” said SIAA Chief Executive Officer Matt Masiello. “After launching SIAA NXT recent
ly, our partnership with Progressive is a natural enhancement of SIAA’s value proposition for our member agents, he
lping them more strategically and sustainably grow their businesses.”
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Progressive Personal Lines President Pat Callahan added, “This par
tnership represents a powerful alignment of two industry leaders c
ommitted to supporting independent agents. By combining Progressi
ve’s market-leadin
g products with SIAA’s expansive network, we’re further demonstrating our continued investment in the agency channel by ensuring SIAA age
nts have the breadth and depth of products that leads to greater availability and affordability for their clients.”
As was the case in all the prior studies reviewed by Carrier Management, ACORD’s 2025 study, released in mid-December last year, identified value creators and value destroyers
by determining whether 20-year returns exceeded a prescribed bench
mark. Creators exceeded the benchmark over the study period; destroyer
s did not. (More precisely, the study examined cash flow in excess of an 8.2% cost of capital as the measure of value. Related textbox, “Defining Value Creation”)
The ACORD analysis breaks the value creators into two categories: sustainable value creators that meet the required return
threshold through underwriting and investment activities, and hollow value creators that do so through investment returns only while failing to generate value from underwriting.