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.
