The Hanover Bucks Insurance coverage Commoditization Trend With Platinum Encounter Launch

SOMERSET, N.J., March 13, 2014 /PRNewswire/ —  The Hanover Insurance Group, Inc. /quotes/zigman/399009/delayed/quotes/nls/thg THG -.22%  unveiled its Platinum Encounter, a robust bundle of bundled car and residence insurance coverage merchandise and companies for independent agents to provide their account-oriented clients, in New Jersey and New York.  

In an more and more competitive and dynamic private lines environment, Platinum addresses a increasing marketplace chance for independent agents to supply enhanced complete household insurance inclusive of automobile, residence, umbrella and recreational cars. With a single policy, 1 coverage powerful date, and a single bill, agents can leverage their experience to guidebook clients by means of a comprehensive portfolio of features and coverage amounts that give better worth.

A 2013 Accenture review called “Playing to Win” indicated that most insurance coverage items have some degree of complexity that needs knowledge.  The examine concluded that the insurer of the long term will need to bundle and provide coverage in a way that clients find straightforward to comprehend and use, without downplaying the complex nature of the resolution. That long term is here.

“As a lot more and far more direct writers flood the marketplace with a concentrate largely on value, we are thrilled to supply our independent agents a entirely distinct technique that is aimed at generating value and building deep, lengthy-term relationships with clients,” mentioned Mark R. Desrochers, president, Personalized Lines at The Hanover. “The Hanover Platinum Expertise supplies solutions that help our agent partners sell worth, conserve time and develop their organizations.”

More than 40% of insurance coverage clients in the Accenture research mentioned they are inclined to pay much more for customized suggestions or help when purchasing insurance, a quantity which has elevated by 6 percentage points given that 2010. 

“We share a belief that delivering customized counsel to aid deal with chance is the lynchpin for accomplishment prolonged term,” Desrochers mentioned. “Customers are inclined to pay out a lot more for a higher value, high quality solution like Platinum. It’;s a win for agents and their clients.”

The Hanover began providing Platinum in early 2013 and it has speedily grow to be the most popular Hanover individual lines item. In addition to single bill and frequent successful dates, Platinum buyers get a waiver of deductible for a multi-property loss enhanced auto rental coverage OEM mechanical elements replacement as nicely as private property substitute at full value.  Online solutions tackle the increasing customer curiosity in a total account see on the internet to spend payments, print ID cards and file a declare. Complimentary entry to automobile and house servicing and stock web sites is also offered, with customization based mostly on the user’;s home and autos.

At the latest Platinum launch events in New Jersey and New York the firm reaffirmed its dedication to distributing merchandise solely via a ne2rk of independent agents and brokers.  “We are quite selective in the appointment of independent agents. Our agents and their staffs do a terrific job of supplying advice, counsel and selling value to value-oriented consumers,” Desrochers added.

The Hanover programs to roll out the Platinum Expertise to 6 added states in the coming yr. Based in Worcester, Mass., The Hanover is a top supplier of company, property, car, valuables and recreational car insurance coverage. For a lot more information, visit www.hanover.com .

ABOUT THE HANOVER

The Hanover Insurance Group, Inc., based in Worcester, Mass., is one particular of the leading 25 house and casualty insurers in the United States. For more than 160 many years, The Hanover has offered a broad assortment of property and casualty items and providers to organizations, individuals, and households. The Hanover distributes its merchandise via a select group of agents and brokers. Through its worldwide member firm, Chaucer, The Hanover also underwrites organization at Lloyd’;s of London in numerous key insurance and reinsurance courses which includes political risk, marine, aviation and power. For more information, please check out hanover.com .

Get in touch with: Karen O’;NeilMedia Relations     koneil@hanover.com                                                           (508) 855-6367

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Source The Hanover Insurance coverage Group, Inc.

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