Renaissance Group News

This month's issue of Techdecisions features a profile of Renaissance Group's implementation of a document image and workflow technology system, the .NET platform from ImageRight. This project is a key component in Renaissance Group's ongoing technology initiatives as the company continues in its rapid growth and expansion. Currently, there are more than 98 agencies at 117 different locations and 30 insurers that are members of Renaissance Alliance. Chief Operating Officer Janet Cochrane notes that the most challenging part of putting the whole project together was getting everyone on the same page with an automated workflow.

Marketing powerhouse and award-winning broadcaster to focus on Alliance of independent insurance agents who offer unprecedented solutions to consumers

WELLESLEY, Mass., Jan. 28 -- Renaissance Group, one of New England's fastest growing and most innovative insurance organizations, announced today that marketing luminary and Emmy award winning broadcaster Eileen Prose has joined the company as Director of Public Relations. Prose will drive the PR efforts for all of the Renaissance Group divisions, including the Renaissance Alliance Group of 80 independent New England agents.

"Eileen's record of promotion success is extraordinary," said Bruce Cochrane, CEO of Renaissance Group. "She will super-charge our marketing and public relations efforts - just when our success is really starting to soar. We are thrilled Eileen has joined the Renaissance Team."

"Eileen brings 20 years of Fortune 500 integrated media program management and event production skills to our organization. At Renaissance, she will focus on accelerating an already rapid rate of growth while establishing a strategic, community based, Public Relations infrastructure able to support the company and its affiliated agents on a local, regional, and national level," said First Senior Vice President Joe Solomon.

"Renaissance Group has amazing people and services - real paradigm changers," said Eileen Prose. "With this kind of talent, momentum, and commitment to the consumer driving every decision, I truly see no limit to the growth of this outstanding organization and their partner agents."

A remarkable broadcasting career further enhances the industry savvy and dynamism Prose brings to Renaissance Group. As the longtime host of the Good Day show on WCVB/Channel 5, Prose won four Daytime Emmy Awards. She has hosted numerous high-profile programs including Working Mother, a daily national program on Lifetime Television, for which she won the coveted cable ACE award, Your Baby and Child, also a national program on Lifetime Television, and WRKO's The Eileen Prose Show. She won a Telly Award for the writing and production of an Ocean Spray signature film, was Second Runner-up and the Talent Award Winner in the Miss America Pageant, and was named Best in the Media by many organizations and Woman of the Year by the Juvenile Diabetes Association. Prose has won many honors for her public service and continues to serve on the boards of several charitable foundations.

About Renaissance Group
Renaissance Group is an integrated group of specialty services for New England based insurance agencies, insurers and vendors that leverage their considerable combined expertise to deliver "Best in Business" insurance services to business, individuals and families throughout the region. Renaissance agents have learned the advantages of unprecedented growth, increased efficiencies and cutting-edge technology. In an era of increasingly impersonal sales and service, Renaissance Group offers a fresh, relationship based, alternative to its affiliated agencies, insurance partners and the thousands of consumers who rely on Renaissance Alliance Agents.

400 Members – Including 17 New Member Agencies - Met to Review Progress, Growth Plans
Renaissance Alliance recently hosted The 5th Annual Renaissance Alliance Team Meeting at Gillette Stadium in Foxborough, MA. More than 400 representatives from New England independent agencies, insurers, and service providers attended the event to review the prior year's progress and to plan for continued growth. Speakers included J. Bruce Cochrane, President of Renaissance Group, Dr. Robert Hartwig, president of the Insurance Information Institute, and John Gray, Senior Vice President of General Reinsurance Corporation.

In his opening remarks, Cochrane noted that despite problems in the overall economy, Renaissance Alliance is thriving, profitable and has continued to grow. In addition to 17 new agencies having joined the Alliance, the past year has also seen the continued evolution of various growth initiatives, including the introduction of proprietary programs, analytical marketing competencies, and a new generation of agency workflow functionality.

Echoing the meeting theme of "Charging Into the Future," Cochrane noted that for all the challenges posed by times of economic uncertainly, such a climate also affords significant growth opportunities. He cited the Alliance's progress in marketing initiatives, data management, and the addition of exclusive value-added industry insurance programs as distinguishing factors that will allow members to successfully compete, differentiate, and innovate in the market.

Cochrane announced the following growth milestones in the prior year:

• Membership grew to a total of 82 agencies throughout Connecticut, Massachusetts, Rhode Island, and New Hampshire, up from 65 the prior year
• Aggregate premium under management totaled $365 million, with 53 percent of the premium in personal lines and 47 percent in commercial lines
• Members' aggregate loss ratio for the prior three years totaled 42.4 percent
• Renaissance Alliance was named as #21 in the nation's top 100 Property and Casualty Agents in Insurance Journal.

In addition, 4 member agencies were recognized with awards for having reached the landmark of 5 or more years of membership in Renaissance Alliance. These agencies include:

• Blackmer Agency, Inc., Shelburne MA
• Cornerstone Insurance Agency, Inc., Athol MA
• Mancuso-Nowak Insurance Agency, Inc., Shrewsbury, MA
• Leonard Insurance Agency, Inc., Osterville MA

The Renaissance Alliance Annual meeting offers an annual forum for member agencies, partner insurers, Renaissance staff, service providers, and guests to discuss challenges and opportunities facing independent agents. The day’s events included presentations, seminars, awards, lunch, and a cocktail reception.

Agency Coalition Offers Additional Benefits, Economies of Scale, Enhanced Growth Opportunities
J. Bruce Cochrane, President of Renaissance Group, announces the addition of six new member agencies to Renaissance Alliance, a coalition of independent agencies, insurers, and service providers. The new member agencies include:

• Quinn of Lynn Insurance, Lynn, MA
• Lawler Insurance Agency, Inc., New Bedford, MA
• Norwood Insurance Agency, Groveland, MA
• Frank X. Perron Insurance Agency, Fall River, MA
• Newberry Insurance Associates, Inc., South Windsor, CT
• J.H. Slattery Insurance Agency, Inc., Abington, MA

Of the appointments, Cochrane states, "These agencies represent some of the top-tier, highest performing agencies in the region. Renaissance Alliance recruits and extends membership to only the most forward-looking and progressive agencies that are poised for growth and committed to impeccable standards of personalized client service and industry excellence." He notes that membership affords each agency the ability to get to the next level by taking advantage of the growth opportunities generated by Renaissance Alliance.

Renaissance Alliance members maintain full autonomy as independent agencies. Membership affords access to additional insurers, insurance products, and specialized marketing expertise, as well as to superior technologies and shared administrative services. Cochrane states, "Member agencies secure the clout, economies, services, expertise, and market access of a very large regional organization while still delivering the trusted, local personalized service that has been the hallmark of the independent agency system for generations."

For the first time in 40 years, Massachusetts' auto insurance rates will no longer be set by the insurance commissioner. Previously, the insurance commissioner established a single set of rates to be used by all insurers, so no matter which insurance company quoted an auto insurance policy, the premium was the same. Now each insurance company will set their own rates so premium may vary from one insurer to another.

Most people will likely see a moderate decrease in their insurance premium for auto policies that renew after April 1, 2008, but some people will see an increase. This will largely depend on past driving records and other risk factors.

Renaissance Alliance independent insurance agents have access to 80% of all insurers licensed to write auto insurance in Massachusetts. They will assist you to find the best options for your particular needs, while assuring that you receive personalized service and protection customized to your individual needs.

For more information about this change and how it will affect you, we've compiled a list of Massachusetts Competitive Automobile Insurance - Changes Effective April 1, 2008 - Frequently Asked Questions. Or find a Renaissance Alliance agency near you.