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."

Posted by Renaissance Group at 2:38 PM | Permalink

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.

Posted by Renaissance Group at 8:14 AM | Permalink

Renaissance Alliance Members Celebrate Growth
Wellesley, MA, October 30, 2007 – Renaissance Alliance hosted The 4th Annual Renaissance Alliance Team Meeting at Gillette Stadium in Foxborough, MA on October 25, 2007. More than 400 representatives from New England agencies, insurers, and vendors attended the event to review the prior year's progress and to plan for continued growth.

In his opening remarks, J. Bruce Cochrane, President of Renaissance Group, noted that Renaissance Alliance offers member agencies the culture, the capacity, and the capability to significantly exceed the industry's anemic annual growth of 5 or 6 percent. He cited the Alliance's progress in marketing initiatives, data management, and the addition of exclusive value-added industry insurance programs as distinguishing factors allowing members to successfully compete, differentiate, and innovate in the market. He announced the following growth milestones:

• Membership grew to a total of 65 agencies throughout Connecticut, Massachusetts, Rhode Island, and New Hampshire.
• The number of affiliated carriers providing service to Alliance agencies grew to 35 national and regional insurers.
• Aggregate premium under management totaled $335 million, with 53 percent of the premium in personal lines and 47 percent in commercial lines.
• Renaissance Alliance issued 228,000 policies in the prior year: 190,000 policies in personal lines and 38,000 policies in commercial lines.
• Members' aggregate loss ratio for the prior three years totaled 41.4 percent.
• Renaissance Alliance was named as #21 in the nation's top 100 Property and Casualty Agents in Insurance Journal.

In addition, 10 member agencies were recognized with awards for having reached the landmark of 5 or more years of Renaissance Alliance membership. They are:

• Joseph A. Curley Insurance Agency, Inc., Wakefield MA
• Bates Fullam Insurance Agency, Inc., West Springfield and Wilbraham, MA
• B and M Insurance Agency, Inc., Wakefield MA
• Woodcome Insurance Agency, Inc., Leominster MA
• Pope Insurance Agency, North Attleboro MA
• W.E. Noyes & Son Insurance Agency, Inc., Shirley MA
• Eldredge & Lumpkin Insurance Agency, Inc., Chatham MA
• G.W. Morisi Insurance Agency, Inc., Springfield MA
• Bernard M. Sullivan Insurance Agency, Inc., Ipswich MA
• Ross Insurance Agency, Inc., Holyoke 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. The theme for the 2007 meeting was Putting the Pieces Together, signifying the unified goal of implementing Renaissance Alliance proprietary tools, programs, and marketing initiatives to foster continued growth. Guest speakers included J. Bruce Cochrane, CEO and founder of Renaissance Group; John Hannah, legendary football great, business entrepreneur, and motivational speaker; and Dr. Susan Murphy, author and national expert on multi-generational differences in the workplace. In addition, valued-added exclusive programs were introduced.

As a community service, Renaissance Alliance also hosted tours of Gillette Stadium for residents of The Cape Head Injured Persons' Housing and Education Group, Inc., ("Chip's House"). Residents were taken on a tour of the stadium and had the opportunity to meet and talk with keynote speaker Johan Hannah.

Posted by Renaissance Group at 8:55 PM | Permalink

An article in August 6 issue of The Standard about the coming competitive market in private passenger auto insurance featured comments from J. Bruce Cochrane, president of Renaissance Group. The article noted that between 55% and 60% of Bay State agents represent only one auto insurer.

"To compete effectively, Cochrane said, that will need to change, but therein lies a catch-22 - agents cannot attract new companies without the promise of new business, but cannot tempt new customers without a variety of coverage options. "You're sitting there with all your customers at risk," he told The Standard. "Your first course of action is to protect your book."

There are three points to competition, Cochrane observed - coverages, service and price. All 19 insurers that have long competed on service in Massachusetts should be expected to exercise their newfound right to compete on price, he said.

Agents have a "huge" opportunity to reconnect with their clients, but must understand the dynamics of the market have changed and they need to bring the sales skill back to the auto insurance market, Cochrane explained, They need to be able to explain all options, quote every single company for all clients and be ready to go out and drum up new business to replace the natural losses that will occur.

"Out of every crisis comes both chaos and opportunity," said Cochrane."

Posted by Renaissance Group at 11:37 AM | Permalink

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:

• Cabot Risk Strategies, LLC Woburn, MA
• Squeri Agency, Inc. Branford, CT
• Employers Insurance Group, Inc., Fitchburg, MA
• Linnane Insurance Agency, North Reading, MA
• Andrew G. Gordon, Inc., Norwell, MA
• Regan Insurance Agency, Inc., Waltham, MA

Of the appointments, Cochrane states, "These agencies are best in class, high performing agencies. Renaissance Alliance recruits and accepts only the most forward-looking and progressive members who are committed to impeccable standards of integrity, service, and excellence." He notes that the new members reflect Renaissance Alliance's core commitment to real agency growth. Each new agency is dedicated to getting to the next level and has joined to take 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 expertise, as well as shared administrative services and technologies. Cochrane states "Member agencies are able to provide their clients with a level of products, service and expertise associated with the largest of regional brokers, while continuing their tradition of local personalized service."

About Renaissance Alliance: www.renaissanceins.com - Renaissance Alliance is a constellation of carefully selected independent agencies, insurers, and vendors leveraging their considerable combined expertise to deliver "Best in Business" insurance services to personal and commercial insureds throughout New England. Renaissance Alliance is administered by Renaissance Alliance Insurance Services, LLC, a member of the Renaissance Group, with headquarters in Wellesley, MA

Posted by Renaissance Group at 12:41 PM | Permalink