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."
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.
]]>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:
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.
]]>"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 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
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. 85, No. 7 five regional print magazines, on April 9, 2007.
A- Rated Guaranteed Cost insurance programs available throughout New England
For more information, drop an email or call us at 1-800-514-2667 today.
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"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."Continue reading A Great Revival.
The Rough Notes Company has been providing news, information, and services to property/casualty insurance agents and brokers since its founding in 1878.
]]>The Pacesetter Award is named for former MAIA president and staff member Henry F. Barry, Jr. During his career as an insurance agency principal, member of the association’s professional staff, and in his personal life, Barry set a pace of hard work, perseverance, compassion and charity at a level matched by few in our industry.
For coverage in The Standard, which includes details on Cochrane's long-term involvement in the insurance industry, see: Setting the Pace
]]>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 ]
]]>Renaissance Alliance recently hosted its third annual meeting at Gillette Stadium in Foxborough, MA. More than 350 representatives from New England agencies, insurers, and vendors attended the event to review the growth and achievements of the prior year and to plan for continued growth of both the group and each of its independent partner agencies.
At the October event, J. Bruce Cochrane, President of Renaissance Group, noted that the Renaissance Alliance offers member agencies the opportunity to successfully compete, differentiate, and innovate in the market, while maintaining independence and locality, critical to service excellence. He announced the following accomplishments in the prior year:
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 ]
]]>WELLESLEY, MA — J. Bruce Cochrane, President of Renaissance Group announces the addition of eight new member agencies to Renaissance Alliance, a coalition of independent agencies, insurers, and service providers. The new member agencies include:
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 increasing activity in Connecticut, as well as its continuing commitment to the Massachusetts market.
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 and products. Membership currently includes 54 agencies and 24 insurance companies. Renaissance Alliance is administered by Renaissance Alliance Insurance Services, LLC is member of the Renaissance Group, with headquarters in Wellesley, MA.
]]>Congratulations to the following team members who were the chosen Ultimate Team Player winners for 2005.
Corinne O'Callaghan-Fallon - 2005 Renaissance "All" Ultimate Team Player
Meghan Sliney - RAIS Team
Barbara Kuczmiec - RIA Team
Alanna Hill - Sales & Marketing Team
Kim Kaur - Systems & Help Desk Team
Brian Pogorek - Accounting & Administration Team
Elena Bentley - Business Transfer and C&P Team
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