Don’t miss our interview next week with Safeco’s Regional General Manager, Victor Pepin
Safeco is now open for business in Massachusetts. The company purchased by Boston-based insurer Liberty Mutual in 2008, will now offer its range of personal lines insurance products to the independent insurance agents of Massachusetts. And with less than 1 percent of the current market share in the Commonwealth, the Seattle-based insurer says that it will be looking to add to the already 400 independent insurance agencies that sell Safeco across the Commonwealth.
“Since joining the Liberty Mutual family in 2008, Safeco has focused on selling its rapidly growing national brand exclusively through independent agents and providing outstanding local service to both our agents and customers,” said Safeco Insurance Regional General Manager Victor Pepin. “We’re excited to introduce Massachusetts insurance agents and residents to our high-quality products and service.”
Massachusetts insurance agents who are interested in learning more about what exactly Safeco is doing in Massachusetts and what they can offer you and your agency, can see what Safeco has to offer its agents here.
The MAIA welcomes the latest addition to the Massachusetts insurance marketplace
MAIA President & CEO Frank Mancini says that it’s good news for independent agents to hear about an agency company coming in rather than another direct writer. “Certainly, we’re always happy to have another independent insurance company come into the state, ” said Mancini.
He went on to note, however, that while the transition from Peerless agents to Safeco agents on the personal lines side will likely be smooth, Peerless’ commercial lines agents have been a little more uncomfortable with the change. “Most of Safeco’s current agents in the state have been Peerless insurance agents for both personal and commercial lines,” explained Mancini. “With Peerless’ commercial lines business having moved over to Liberty Mutual, however, that has been more a matter of concern to these former Peerless agents.” Mainly because these agents are now doing business under the Liberty Mutual name, which is known as a direct writer and competitor to direct competitor with an agent’s market share.
An aside from this minor complaint, overall, Mancini is optimistic that Safeco will be a good thing for both agents and the personal lines market in Massachusetts. “We’ve heard so much about the GEICOs and Progressives, it’s nice to be talking about news of an agency company coming in,” said Mancini, “That’s what we need more of.”