Through the addition of dozens of new members, territorial expansion and the rapid growth of its existing member agencies, Renaissance Alliance has doubled the property casualty premium controlled by its independent members in just two and a half years.
Looking back at the numbers, Chief Financial Officer Andy Jenn said “this level of growth is a rarity in our industry. Since January 2019, Renaissance has grown from 88 agents across 5 states to 140 members across 8 states, and from $550 million in premium to over $1.1 billion, an increase that far exceeds what we had forecasted at the time.”
Chairman and CEO Kevin Callahan noted “this momentous achievement is a testament to the fact that our value proposition is resonating in the market, and more importantly, that our member agencies truly are experiencing tremendous growth. Our top quartile members are growing at an average rate of 13% per year, and this is driving remarkable results for the alliance as a whole.”
“Many of our carrier and wholesaler partners have benefited from this significant growth, and they continue to see the value our members bring to the table through the exceptional service and expertise they provide to insureds”, he added.
Chief Technology Officer Michael Freilich shared his thoughts, commenting that “the incredible growth we’ve experienced has allowed us to deploy new technology and services to our members. We’ve pioneered a mobile app for Agency Principals, a submission platform that incorporates a small commercial comparative rater, an automated email marketing tool, and a full suite of dashboards that dive deep into an agency’s book of business to help them uncover revenue opportunities and take actions to cross-sell and increase retention.”
President and Chief Operating Officer Bob Bondi agreed, noting that “much of this growth has been driven by our service enhancements, whether it’s through technology or personnel additions like our team of Agency Growth Partners and expanded Placement Team. But the biggest source of this growth is the ability of our outstanding member agencies to attract and retain valuable clients, build high quality risk management programs and limit loss exposures…None of this would be possible without them.”
With plans for a national footprint, Renaissance hopes to look back at this announcement as an early milestone in a journey that is just getting underway.
More About Renaissance:
Renaissance Alliance works with independent P&C agency owners to grow your premium, maximize your revenue and increase the value of your agency. This is done by increasing profit sharing and fixed override revenue while simultaneously outsourcing non-revenue generating activities to focus on your core business. The net effect is increased revenue, decreased expenses, improved operational efficiency and accelerated agency growth.