The Hanover Insurance Group, Inc.has launched Connections Home, a new homeowners insurance product designed to make it easier for agents to sell and retain more business by providing a total account solution.
Connections Home offers four package options: Basic, Select, Select Plus and Select Premium. Umbrella coverage is also available as an endorsement in most states.
The Hanover is also debuting newly-enhanced point-of-sale (POS) screens for Connections Home. The advancement includes ease-of-doing business tools like pre-fill and quick quotes and opportunities to cross sell scheduled coverages.
“With Connections Home our agent partners can tailor a homeowners program to the unique needs of their diverse customers, all while giving their clients more say in what their insurance policy will look like,” said Jim Hyatt, president of The Hanover’s personal lines group.
Agents can quote Connections Home for policies effective on April 16
in six states including Connecticut, Illinois, Maine, New York, Ohio, and Tennessee. Connections Home will be available in four additional states for policies effective on April 30th including Arkansas, Indiana, Michigan, and Wisconsin. Connections home will be available in Georgia, Massachusetts, New Hampshire, New Jersey, Oklahoma and Virginia later in 2007.
Connections Home is available in the following packages, which can vary based on state mandate:
— Basic: A competitively-priced plan for cost-conscious homeowners that includes replacement cost protection up to a dwelling’s value.
— Select: Offers the same coverage as Basic, as well as extended dwelling replacement cost, personal property replacement cost (Caps value by state), refrigerated products coverage and lock replacement. In addition, there are three limit increases over basic for contents, damage to property of others and Fire Department service.
— Select Plus: Includes the same coverage as Select, as well as even more features. These include additional coverage for water back-up, identity fraud, personal injury, extended dwelling replacement cost, personal property replacement cost and sixteen limit increases including ordinance of law and loss of use.
— Select Premium: This premium coverage is designed for coverage conscious customers with sophisticated assets. In addition to offering the range of coverage from Select Plus, insureds get a waived deductible for losses over $50,000 and coverage for all-risk personal property, lost or misplaced jewelry, identity fraud expenses and personal injury. In addition, there are many limit increases over Select Plus, including water back-up, sump overflow and mysterious jewelry disappearance.
Two years ago, The Hanover’s launching of Connections Auto drove its private passenger automobile new business growth of more than 150 percent in the first 12-months.
The introduction of Connections Home completes The Hanover’s total account solution for personal lines, giving the company’s agent partners the products they need to sell and retain more business.
Customers insured through both Connections Home and Connections Auto will receive a premium discount, in addition to a wide range of protection.
Source: The Hanover
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