GoodWorks Insurance, a new insurance ageny that gives half of its profits to local non-profits in accordance with a unique charitable contract, is expanding its business model to permit its use by established insurance agencies across the country.
GoodWorks Insurance currently has company-owned agencies in Connecticut and Massachusetts. The private company now says it is offering to license its patent-pending business model to other insurance agencies.
Joseph L. Grochmal, GoodWorks Insurance president and CEO, says expanding the availability of GoodWorks Insurance in this manner will increase the firm’s ability to support local communities as well as give customers more offices where they can obtain insurance.
“We founded GoodWorks Insurance with a desire to do more than operate a business,” said Grochmal. “Even though our business is selling insurance, we are dedicated to making a valuable contribution to local communities by providing the best insurance coverage to our customers while making charitable donations to local non-profit organizations that work to address the deepest concerns of all citizens.”
GoodWorks Insurance makes contributions to local non-profits that agree to distribute donations toward identifiable, tangible enhancements within 12 months after receipt of funds. The company anticipates that approximately 70 percent of its donations will support education with the remainder divided equally between healthcare and public safety.
To date, GoodWorks Insurance reports it has contributed nearly $18,000 to community organizations in Connecticut and Massachusetts.
GoodWorks Insurance backs its commitment in writing with a unique patent-pending charitable contract that is enforceable by any community member.
Commercial businesses across the country can obtain GoodWorks Insurance through its partnership with Hilb Rogal & Hobbs of Connecticut, Inc.
GoodWorks Insurance has been appointed by Arbella Insurance Group, Chubb, Litchfield Mutual, National Grange Mutual, Patrons Insurance Group, St.Paul/Travelers, The Hartford, and Drive Insurance of Progressive, among others.
The company is in the process of expanding to include life, health, disability and long-term care insurance for both individuals and groups.
Source: GoodWorks Insurance
Editor’s Note: For more on the story of GoodWorks Insurance, see the Nov. 6 East edition of Insurance Journal magazine.
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