During the month of August, my agency group placed 48% more personal lines premium with Travelers than we did during August of 2013. We will place over $4 million in total premium with Travelers this year, so that percentage increase represents a large written premium growth.
I should be smiling, and I am.
In today's market such good news is welcome, but rare. Quantum 2.0 is a reduced-commission private passenger auto insurance product. We readily agreed to its premise with our eyes wide open and eagerly endorsed its use by our member agencies. After experiencing its impact on our agency group, I'm concerned that it will become too successful and will prompt other companies to cut commissions, without doing all the other great things Travelers has done that are part of Quantum 2.0.
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