The Main Street America Group has implemented Main Street Protection Auto, its robust new private passenger auto insurance program for the preferred/standard marketplace, in three additional states, including New York, the property/casualty insurance company’s largest personal lines premium state, as well as Pennsylvania and Rhode Island.
Main Street Protection Auto is generating significant marketplace impact for the super-regional carrier and its distribution network of independent insurance agents. The program is now available in eight states across the Northeast, New England and Southeast, with five more states slated for later this year.
“Main Street Protection Auto is a total overhaul of our previous personal auto insurance offerings,” said Debbie Murphy, Main Street America’s vice president/head of personal lines. “Our new auto product features impactful changes across the board including an improved pricing position in our target market, enhanced coverages and improved ease of use of our Main Street Station personal lines processing platform, making it easier for our independent agents to write business with us.”
Year-over-year new business premium has more than doubled in the states where Main Street Protection Auto has been implemented over the past 18 months and this very positive trend is anticipated to continue in New York, Rhode Island and Pennsylvania, Murphy added. The program was initially launched in 2015 in South Carolina and Virginia. It is also available in Connecticut, New Hampshire and Maine.
“Our production with Main Street Protection Auto was outstanding in 2016 and we continue to gain market momentum throughout the four New England states where we have the product available for consumers – Connecticut, Maine, New Hampshire and Rhode Island,” said Steve Berry, Main Street America’s New England Region president. “Our quoting volume is strong for a variety of reasons, including a new straightforward rating approach and new business issuance process, all of which enable our appointed independent agents to transact business more quickly with us. Feedback from our agents throughout the region has been very positive.”
Mark Berger, Main Street America’s Northeast Region president, added, “Main Street Protection Auto is the type of impactful private passenger auto product our agents have been asking for. We believe it will hit the mark with our preferred personal lines insureds in New York and Pennsylvania and help drive tremendous growth and profitability for our agents across these two states this year.”
Main Street Protection Auto product highlights include a competitive lineup of bundled and standalone coverages that include many sought-after coverages such as new vehicle replacement, accident forgiveness and disappearing deductible. Another distinguishing feature of the program is the myriad of discounts being offered to consumers. Main Street America’s insureds will be eligible for up to 20 discounts, including a new business discount, accident and violation free discount, loyalty discount, new vehicle discount and premium reductions for paying in full or signing up for electronic funds transfer payments. Other discounts include savings for insureds that package their personal auto and homeowners’ policies with a Main Street America carrier or have multiple vehicles on the policy.
Relative to quoting and business submission, agents can quickly bridge from their comparative rater directly to the premium summary page on Main Street America’s Main Street Station processing platform where additional coverages or quote changes can be quickly made. There are fewer screens to simplify data entry and faster response times, which enhances the overall user experience.
Main Street America plans to implement Main Street Protection Auto in five additional states in 2017: Arizona, Georgia, Maryland, Tennessee and Vermont.