One in five life insurance agents would consider changing carriers if the new one was a better fit, and the majority of producers that do switch blame it on an eroding relationship with the carrier, a new study suggests.

A total of 64% of life insurance producers say they are “very likely” to remain with their current company, while almost 20% of respondents would consider switching firms if the company culture, style and support more closely matched their own, according to LIMRA research.

Polly Painter Eggers

“Just like any other relationship, the relationship between a company and a producer must be tended to and both parties must feel like it’s the right fit for them,” said Polly Painter Eggers, senior researcher at LIMRA Distribution Research, in a statement. “We wanted to know whether there was a predominant issue that drove producers to switch companies or to remain loyal; what we found was there were a number of subtle indicators—weak signals—that influence producers.”

Producers who switched firms mentioned feeling “detached” or “underappreciated,” according to its research. To prevent this occurrence, LIMRA researchers said, companies need to encourage managers to keep the lines of communication open—not just for those struggling but for the top producers.

“It’s clear that high-performing producers will always be in demand,” said Painter Eggers. “A successful retention program works to provide not just strong service support, but also offers training and flexibility to meet the individual needs of their producers.”

Producers consider themselves the key to their own success, according to a 2009 LIMRA study. In that study, more than half of all producers identified personal drive and motivation as the top factors in their success.

The latest study suggests a bigger role in achieving their long-term goals for the products, business models and support services.

Strong office support with knowledgeable staff and cutting-edge technology solutions are some of the most important components supporting producer success, according to LIMRA research, which found that any office support that saves producers’ time is highly valued since it frees up time for them to visit with clients or pursue new business leads.

However, producers want a work environment, with respect to flexibility or structure, that matches their own style, the research found.