Banking & Finance and Nonprofits

Association rates insurance carrier No. 1

May 27, 2014
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An insurance carrier in the region has been ranked the top insurance company by a statewide association of independent agents — for the second consecutive time.

Fremont Insurance, a property and casualty insurance carrier in Fremont, said last week that it was named the highest-rated insurance company among independent agents in the state of Michigan in the 2014 Agent Survey of Companies.

The biennial survey is conducted by the Michigan Association of Insurance Agents and provides a benchmark for insurance companies' strengths and areas for improvement.

Independent insurance agents represent multiple carriers.

Steve Monahan, president and chief executive officer at Fremont Insurance, said to be recognized in a survey coming directly from agents is a tremendous honor.

“It’s a great validation of our customer-first approach to working with our partners and demonstrates their appreciation of our open and accessible management style, our diverse product offering and our ongoing efforts to provide the tools and systems they need to be successful,” Monahan said.

Monahan added that Fremont is "thankful for the team that we have assembled that understands and appreciates our business philosophy and are able to work with our partners every day in a manner that helps us earn these kinds of accolades."

The survey

Fremont said that since not all Michigan companies and agents are represented in the survey, the results aren't considered scientific, but they provide "an important and useful comparison" for those included.

The survey was initially launched in 1992 and ranks companies based on nine categories: personal lines services, claims, commercial lines, compensation, automation, agency contract, competitiveness, underwriting attitude and management.

A number of factors are considered within each of the nine categories: personal auto, homeowners, new business, renewals, service, fairness, website usefulness, contingency agreement, innovative and flexibility of underwriting and consistent decision making within management and more.

The survey asked independent agent members to rate carriers, using a number scale from one to five.

The association then calculated a composite score for each company, based on their ranking within each of the nine categories.

Top 5

The May 2014 issue of Michigan AGENT magazine features the survey's results, including the top five: Fremont Insurance, with an overall score of 4.08; Auto-Owners Insurance, 4.01; Frankenmuth Insurance, 3.94; Pioneer State Mutual Insurance Company, 3.53; and Michigan Insurance Company, 3.32.

Fremont Insurance

Fremont Insurance, founded in 1876, is represented by approximately 175 independent agencies and provides various insurance products: personal auto, rentals, marine, farm, business and worker’s compensation.

The association

The Michigan Association of Insurance Agents in Lansing is comprised of independent insurance agents and industry employees in the state and advocates for a healthy and competitive insurance environment. 

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