What's in a name? Is brand important?

Does a Rose by any other name smell so sweet? Do consumers choose by brand or by insurance agent?

We've just returned from the annual Smart Choice Agents of Kentucky conference. It is always enlightening to visit with fellow Kentucky insurance agents, and of course our vendors and industry mentors. We continue to learn, grow, and of course take a little time to relax.

This year's conference focused chiefly on building a brand. Do consumers really choose their insurance because of the company name or because of the agent they deal with? In small towns throughout Kentucky, the insurance agent IS the brand. Whether an agent offers one brand or twenty, does it really make a difference to today's savvy consumers?

Captive agents, insurance agents that represent only one company, obviously benefit from national advertising campaigns. Direct writers, those who advertise on TV, and maintain big corporate offices in metro areas continue to do well with phone and internet sales. It is fair to say that small insurance agencies find it hard to compete with the advertising of corporate giants.

But where does that leave the consumer?

Trends seem to indicate younger demographics accept doing business with "strangers over the internet." Convenience and price are driving factors. Women, who control many family budgets, seem to weigh value and trust as part of choosing an insurance company or agent.

So what about it?

Do you buy insurance based on the name brand of the company, or do you buy insurance based on your relationship with a local agent? Does your buying decision focus solely on price? How does ease of doing business factor in to your decision? How important is convenience? If you had to make a decision, all things being equal, are you more comfortable dealing with a big name brand or a local agent? How do you decide?

Looking forward to your responses.