Plymouth Rock Assurance to Transform the Home Insurance Market with a Revolutionary New Product: Easier than Making a Sandwich
16 May 2019 - 5:00AM
Business Wire
Consumers and insurance agents can complete a
home insurance quote in seconds and buy in minutes with a new
offering designed to disrupt the current product landscape
Plymouth Rock Assurance has today introduced homeowners to a
revolutionary new way to protect their properties. Homeowners can
now buy insurance from the company’s elite agency force – or for
themselves online – in just minutes. After two years of testing in
Pennsylvania, the insurgent product launches today in New Jersey
and is expected to launch in New York, Massachusetts, New Hampshire
and Connecticut later this year.
The new product is a rebellion against the traditionally lengthy
process for obtaining a quote and buying a policy. Plymouth Rock
rejects the concept of having to answer dozens of detailed
questions, complete lengthy processes, inspections and underwriting
steps, only for the customer to see the price change after multiple
reviews. Plymouth Rock will allow buyers and agents to obtain an
accurate quote in seconds, enabling them to check their current
coverage and price quickly, even when they aren’t in the market for
a new home insurance policy.
While many insurance companies are experimenting with faster and
easier processes, none are backed by the expertise and financial
strength of the Plymouth Rock Group of Companies, which now writes
and manages $1.4 billion in premium. Few companies offer the broad
coverage or history of storm recovery assistance provided by this
leader in the Northeast market.
“Only 12 percent of homeowners shop for a new policy each year,”
said Bill Martin, who leads the efforts of Plymouth Rock’s Home
Insurance Group. “This may be because it is more fun to do
something else… like make a sandwich. Many of our competitors
collect data to prove their insurance applicants’ answers wrong. We
use the data to make customers’ lives simpler and avoid playing
‘gotcha.’ We decided getting an insurance quote should be easier,
more interesting and fun than making a sandwich.”
Known for extremely complex requirements, long phone calls and
confusing questionnaires, home insurance quotes are time-consuming
and often frustrating for consumers. Plymouth Rock intends to solve
those problems with a product that is simple, fast and
reliable.
Martin continued: “When you can get a quote in seconds –
especially when it comes from a company you know will be there for
you when it’s time to pay claims – you don’t have to have a reason
to get a quote. We encourage all homeowners to quote, whether their
policy is up for renewal, they’re moving or just for fun. You may
be able to save hundreds of dollars by getting a quote from
Plymouth Rock right now – in seconds.”
Product FeaturesPlymouth Rock’s innovative product
combines a fast and simple quoting process that can be completed in
seconds simply by entering an address and selecting coverages,
discounts and a pay plan. Harnessing the power of data from
trusted, publically available sources, Plymouth Rock has pre-rated
nearly 93 percent of properties in each of its states. This enables
homeowners and agents to quote – and buy – a home insurance policy
in just minutes.
The product’s speed and ease of use are combined with flexible
coverage options and unique offerings tailored to the modern
property owner, including:
- Home Sharing Coverage designed to
protect homeowners – and home renters – who use home sharing
services
- Home Systems Protection to insure home
essentials like furnaces, air conditioners and refrigerators when
they break down
- Utility Service Line Coverage to
protect against damage to underground pipes or utility lines
between your home and the street
- Identity Theft Resolution and
Prevention Services to resolve an identity theft incident, identity
monitoring services to prevent ID fraud, and reimbursement of
expenses incurred in resolving an ID theft event.
“We plan to shake up the home insurance buying process,” said
Martin. “Making it easy for everyone to quote and buy home, condo
and renters insurance – and offering the kinds of coverages today’s
property owners need. We’re thrilled to be launching in New Jersey
and look forward to future launches in our other states.”
About Plymouth RockThe Plymouth Rock Group of Companies
was established to offer its customers a higher level of service
and a more innovative set of products and features than they would
expect from an insurance company. Taken together, the group's
companies now write and manage more than $1.4 billion in auto and
home insurance premiums across Connecticut, Massachusetts, New
Hampshire, New Jersey, New York and Pennsylvania. Plymouth Rock's
approach to insurance puts customers' convenience and satisfaction
first, giving them the choice to do business the way they want –
online at plymouthrock.com, using a mobile device, by phone or with
one of Plymouth Rock's agents.
The Plymouth Rock Group of Companies is a trade name used by a
group of separate companies that write and manage property and
casualty insurance in multiple states under a variety of marketing
and brand names, including the brand names and service marks
Plymouth Rock® and Plymouth Rock Assurance®. The Home Insurance
Group is a name used for convenience and in marketing to refer to a
grouping of property and casualty insurance products sold or
serviced in multiple states through legally separate underwriting
and managed insurance companies. The Home Insurance Group is not a
legal entity. In Pennsylvania and New Jersey, home insurance is
underwritten by High Point Preferred Insurance Company and
Palisades Property and Casualty Insurance Company. Each
underwriting and managed insurance company is financially
responsible only for its own insurance products and actual coverage
is subject to the language of the policies as issued by each
separate company. Some discounts, coverages, payment plans,
features and benefits are not available in all states and
companies.
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Brad Baker617-951-1039bbaker@plymouthrock.com