Branch, an insurtech startup focused on bundling digital home and auto insurance, is eying national expansion through 2021 after nailing down $24 million in new financing. The managing general agent (MGA) also plans to add a reciprocal exchange to its …
Marketers love to bundle products and for good reason. Bundling encourages consumers to buy more. However, new research suggests that it’s not quite that simple. While bundling gets buyers to buy more, it can also make them less willing to …
The insurance industry has some work to do to win over Gen Y customers, those ages 21 through 38. Members of the Gen Y generation, who were born between 1977 and 1994, are less satisfied with their homeowners insurers than …
Progressive Corp., the fourth-largest U.S. auto insurer, said second-quarter profit rose 24 percent after an acquisition that pushed the company into homeowners coverage. Net income climbed to $363.3 million, or 62 cents a share, from $293.4 million, or 49 cents, …
Allstate Corp. reported that higher losses from catastrophes due to severe winter weather cut into profits in the first quarter while higher premiums helped offset the effect. The company reported net income of $587 million, which was down 17 percent …
Esurance, the online car insurance seller owned by Allstate Corp., is betting that bundling auto and home policies will help it compete with Berkshire Hathaway Inc.’s Geico unit and Progressive Corp. Esurance started underwriting homeowners coverage in Wisconsin and plans …
Overall customer satisfaction with homeowners insurance companies is the highest in the 12 years J.D. Power and Associates has measured it, driven in part by the practice of bundling auto and homeowners insurance policies. Overall satisfaction averages 785 in 2012 …
Allstate is dropping about 10,000 South Carolina home insurance customers. The company is dropping customers who don’t also carry Allstate auto coverage, have older homes and have homes insured for less than $220,000. Allstate is the second-largest writer of homeowner …
