Amid story after story on direct channel auto coverage, and debate over whether the insurance line is worth fighting to sell, Travelers says it has listened to its independent agent partners to develop a competitive product.
"We do not subscribe to the notion that auto insurance is a commodity," Behram M. Dinshaw, senior vice president of personal insurance product management tells PC360. "We spent a lot of time with agents, finding out what's working well and what's not. This is a bold step in the marketplace and we think we're in a good position to launch something like this."
Travelers launched Quantum Auto 2.0 in 8 states. The product is now in 10 states with plans to expand to 15 states by the end of the year, and then to a majority of states next year. Dinshaw says the product allows agents to bring more options to consumers, with new features and benefits—such as accident forgiveness and disappearing deductibles—in order to give the agent a better chance at retaining the business at renewal, according to Travelers.
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