Renaissance Group News

Program will link multiple insurers and be payroll vendor neutral for maximum choice

Bruce Cochrane President and CEO of Renaissance Alliance Renaissance Alliance, New England's premier network of independent agents, has announced a partnership with InsureLinx of Sarasota, FL, the nation's leading workers' compensation pay-as-you-go (PAYGO) technology vendor, to launch EZPayIns™, the first agent centric workers' compensation PAYGO product serving independent agents, insurers, and the commercial business community.. The program is currently in beta testing and will be launched in January 2012.

EZPayIns™ will be fundamentally different from any existing workers' compensation PAYGO program in that it will provide independent agents and their commercial customers access to multiple insurer PAYGO options combined with freedom to continue processing their payrolls as normal without requiring any change in their current agent or payroll service provider relationships. Cochrane says, "Our member agents are at the core of the EZPayIns™ platform in providing their clients trusted localized service and business solutions choices. Alternative PAYGO products offer one or limited market options from individual insurers and/or payroll service providers. This old paradigm significantly limits the customers' ability to obtain the best possible solution for their workers compensation needs."

Jeff Harris, President and founder of InsureLinx, says: "I am an independent agent myself. I strongly believe in the risk management expertise and value the independent agency system delivers to employers when it comes to workers' compensation. We are very enthusiastic about our Renaissance Alliance partnership to deploy our combined technologies in providing EZPayIns™ to the Alliance network of 95 independent insurance agencies."

For agents, just a few of the many advantages of EZPayIns™ include ease of administration through integrated automation, a value-added service that bolsters client retention, and the elimination of agent/client friction often arising from surprise year-end audits resulting in large additional lump sum premiums. For employers, EZPayIns™ matches cash flow with revenue, eliminates or significantly minimizes workers' compensation down payments and large audit premiums, and affords administrative efficiencies with continued service from an existing trusted agent and payroll service provider.

EZPayIns™ is an exclusive offering only to Renaissance Alliance members and partners.

Renaissance Insurance Group came in at number #19 on the Insurance Journal's listing of the Top 100 Agencies Independent Property & Casualty Agencies. Renaissance Insurance Group is a Wellesley, MA-based company that is listed as having generated $410 million in property-casualty written premium. This distinction comes quickly on the heels of Renaissance having been named as #10 on the Insurance Journal's Top 10 Fastest Growing Property and Casualty Independent Agencies. Renaissance President J. Bruce Cochrane said, "We've been growing both organically and by adding new agency members. We attribute our organic growth to utilizing a combination of state of the art technology, streamlining workflows and assisting our members enhance their marketing efforts. While we knew we had grown to national stature, it was exciting to see that we placed within the top 10 of the nation's fastest growing independent agencies."

The firm has 72 employees and is privately held. and business volume must be primarily retail rather than wholesale. The list appeared in Insurance Journal's regional print magazines on August 1, 2011.

Renaissance Alliance Insurance Services (RAIS), New England's premier network of specialty services for independent insurance agencies, is pleased to announce the addition of four new member agencies in the state of Connecticut: Deming Insurance Agency, Inc. of Farmington; Greenberg, Rhein & Margolis, Inc. of Woodbridge; Penny-Hanley & Howley Co., Inc., of Stafford Springs; and Southington Insurance Center, Inc., of Southington.

With the new members, Renaissance Alliance aggregate premium tops $400 million.
President of Renaissance Alliance Bruce Cochrane says, "In adding these four premier agencies as members, we have significantly strengthened the Alliance presence and reach in Connecticut. This is good news for local businesses and consumers because agency members gain the power and clout to ensure access to a broad array of insurers and to offer enhanced service." He adds that 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.

Renaissance Alliance members maintain full autonomy as independent agencies. Membership means access to additional insurers, innovative insurance products, specialized marketing expertise, proprietary specialty programs, processing efficiencies, 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."

As part of its ongoing initiative to provide cutting edge services to its 90+ agency members, Renaissance Alliance has partnered with InsurBanc for a secure Web-based commission payment system, cash management solution, and online banking service. InsurBanc developed a customized banking program for Renaissance that combines technology tools, deposit products and services, and customer service standards and processes. Learn more: Renaissance Group Turns to InsurBanc To Help Member Agencies Do Many Things Well.

InsurBanc is the only bank designed for insurance professionals. Founded by agents in cooperation with the IIABA, InsureBanc's mission is to help agents, brokers and other insurance professionals grow and prosper with tailored banking products and superior, personalized service. President of Renaissance Insurance Group Bruce Cochrane notes that the two organizations share both a service philosophy and a commitment to empowering independent agents.

Renaissance Insurance Group came in at number 10 on the Insurance Journal's listing of the Top 10 Fastest Growing Property and Casualty Independent Agencies. Renaissance Group beat the odds despite the economy and soft insurance market and managed to grow their agency P&C premiums by an incredible 15%. Renaissance President J. Bruce Cochrane said, "We've been growing both organically and by adding new agency members. We attribute our organic growth to utilizing a combination of state of the art technology, streamlining workflows and assisting our members enhance their marketing efforts. While we knew we had grown to national stature, it was exciting to see that we placed within the top 10 of the nation's fastest growing independent agencies."

Renaissance Insurance Group is a Wellesley, MA-based company that is listed as having generated $300 million in property-casualty written premium and $37.6 million in property-casualty revenue in 2006. The firm has 72 employees. Some of the criteria for the list are that agencies must be privately held and business volume must be primarily retail rather than wholesale. The list appeared in Insurance Journal's Vol. 88, No. 23 five regional print magazines, on December 6, 2010.