"We had a truly transformational year in 2017 thanks to the hard work of our agents and associates. And now we have the products, people and Ease of Doing Business® to continue this momentum into another terrific year in 2018."
Our dedication to being a strong, stable partner showed remarkable dividends in 2017 with a large leap forward in new business. And we did it while maintaining a strong focus on profitability, finishing 2017 with a combined ratio of 95.8%.
New business results were up across the business, with exceptional results in Package, where we finished up 27.7% over last year. Results were also strong in BOP, finishing 21.6% over last year.
Launched in August, our 36-Month Package Policy became an immediate differentiator in the marketplace. Ensuring consistent rates and coverages for the entire term of the policy, the 36-Month Package option gives our agents and their clients true long-term stability. We also improved our internal technology to make writing a Package account a simple, straightforward and quicker process for our agents.
In October, we launched Multiple Underwriting Companies, adding a new level of pricing flexibility for our agents and their clients. Throughout the year we increased our marketing presence, offering BusinessAssure™ campaigns in popular segments, sharing videos that highlight our improved Package capabilities and improving the frequency of communication with our agents.
All this, combined with our improved Ease of Doing Business® and filling out our Commercial Lines staff with talented, experienced people, helped Grange make large strides to becoming a go-to carrier for our agents.
In 2018, we will continue to build on the foundation we’ve created, leveraging our new products and services as well as our improved automated underwriting process and continue the momentum of our growing business.
"New, customizable, competitive products helped us take a big step forward in 2017. We look forward to building off that hard work with our agents to keep that momentum going in 2018."
In 2017 we upgraded and aligned our home and auto products to provide choice at a competitive price.
The newest versions of both our PinPoint Homeowners® and PinPoint Auto® products rolled out across our footprint, offering different levels of coverages, options and prices that could be customized to the customer’s needs.At the same time, we aligned both products to make it even easier for our agents to create a competitive bundle for their clients.
We listened to our agents' feedback and added a number of new features to our products such as Rideshare Gap Coverage, Accident Forgiveness and Minor Violation Forgiveness. Agent input also helped us continue our focus on the Ease of Doing Business®. We made a number of workflow and underwriting changes to help streamline our policy issuance process.
As a result we were able to grow new business, build our customer base and finish the year with a combined ratio of 94.3%.
In 2018, we’ll remain focused on improving our products as well as the customer and agent experience and continuing the momentum from our strong performance in 2017.
"In 2018, our dedicated service will continue to be the mainstay of our agent relationships."
Grange Life’s progress in 2017 affirmed the strategic decisions we made in 2016 to help us remain financially stable. We witnessed the positive results of our efforts to strike a balance between profitability and competitiveness.
We began 2017 with a continued commitment to strengthening our financial and strategic foundations, while improving the Ease of Doing Business® for Grange’s agents and customers. We introduced improved mobile navigation, online renewal payments, a late payment indicator and an agent feedback function on GAINWeb Life.
Agent feedback also played a key role in helping us refresh our core product offerings. We extended the non-tobacco issue ages for level term policies and riders and added a 30-year level term rider to whole life. Our improved Sensible Benefits product now makes it easier to offer group voluntary life insurance to businesses, affinity groups and chambers of commerce.
Finally, we supported agents with Sales Sites that feature turn-key marketing campaigns, and a team of knowledgeable and reliable professionals who are always available.
In 2018, we look forward to once again being a valued partner by providing the best service possible and core life products for our agents and their clients.
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