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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."

Renaissance Alliance is featured in an article entitled A Great Revival by Dennis Pillsbury in Rough Notes. The article focuses on the many ways that Renaissance Alliance helps independent agents grow, prosper and stay independent. Here's an excerpt:

"Many agencies don’t have the wherewithal to hire a person for each function. What is needed is a jack-of-all-trades who can take over any position from the agency owner. However, few individuals have the diverse talents needed to handle all the functions required to have a smoothly running insurance agency. But, Bruce thought, a separate entity could hire a number of individuals with those talents and make them available to independent agents that wanted to get out from under marketing and administrative chores. Such a group could bring economies of scale to bear and could also provide marketing advantages by having a volume of business that would be of interest to insurance companies."

The Rough Notes Company has been providing news, information, and services to property/casualty insurance agents and brokers since its founding in 1878.

Where Necessity Meets Opportunity: New Avenues Open for Agents
By J. Bruce Cochrane, President, Renaissance Group
Reprinted by permission, The Standard, November 3, 2006

An old adage asserts that out of crisis arises opportunity. Not all crises come paired with their own solutions, but a unique confluence of forces affecting Massachusetts’ independent insurance agencies is setting the stage for both a profitability crisis and the means to overcome it. Agencies that successfully weather this storm will be those who can foresee it, recognize the opportunity, and mobilize swiftly enough to take advantage of it. [ continue reading PDF ]

Is there a natural disaster in your future?
by Janet H. Cochrane, COO, Renaissance Group
Reprinted by permission, The Standard, May 5, 2005

Those of us who live in the Northeast were fortunate to escape the ravages of serious weather-related disasters in 2005. From Katrina and Ivan to tornadoes and wildfires, many of our fellow citizens weren't as lucky. By all accounts, 2005 was a record-breaker in the sheer number and severity of hurricanes. But just because we dodged a bullet last year doesn't mean we can breathe a sigh of relief. Meteorologists are painting an ominous picture for the upcoming hurricane season which begins on June 1. [ continue reading PDF ]

Generalist or Specialist? Meeting Challenges and Opportunities by Determining Your Agency's Structure and Goals
by J. Bruce Cochrane – President, Renaissance Group
Reprinted by permission, The Standard, November 11, 2005

Over the past generation, a mismatch has developed between the product needs of local independent insurance agencies and the insurers that supply those products. Twenty years ago, both insurers and their agents were generalists. National insurers that were committed to writing a wide spectrum of risks dominated the ranks of insurers. Agents generally marked out a local territory in which they would try to sell to as many clients as possible. Therefore, an agent’s need for a broad spectrum of risk transfer products was matched by an insurer’s ability and desire to provide a wide spectrum of risk transfer products. [ continue reading - PDF ]