NEW YORK — In one of his last public statements before stepping down as CEO of Philadelphia Insurance Cos. on Jan. 1, Jamie Maguire shared some of the strategies that help set his company apart.
For starters, Maguire, who spoke at the 23rd annual Executive Conference hosted by Ernst & Young and Summit Business Media (parent company of PC360), was justifiably proud of Philly's decision to stay entirely out of what has become one of the most-troubled lines in the industry: workers' compensation. The total absence of that coverage on the company's books gives it a big boost over competitors' saddled with it.
Another point of distinction for the company: It's 49.3 percent “hit rate” on binding business that it quotes. Maguire credits Philly's trademarked “10 Reasons Why” marketing strategy as a key factor in this impressive figure: For each line it writes, the company offers 10 ways in which its coverage is advantageous to insureds. Its special “Bell” endorsements, playing off its home city's most-famous landmark, are another tactic to help its policies stand out in the crowd (such as offering Key Employee Replacement coverage at no extra cost).
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
