Local Insurance Innovators Help Drivers Remove the Complexity of Managed Competition

 

Wednesday, Jul 15,2009, 11:28:04 AM   Click:

As one of the first local companies to adopt enthusiastically insurancederegulation auto in Massachusetts today, Next Generation Group Insurance (NGI) today announced the launch of Direct Auto Insurance MassDrive. The business model provides newhybrid Massachusetts drivers atraditional value of the independent and convenience of online shopping Orby phone. MassDrive of innovative service was created to help consumersfind significant savings by eliminating the possibility of confusion anddoing detailed duties necessary following the newlycompetitive market.

Before the deregulation mandate, also called the managed competitionsystem, auto insurance providers were required to offer standardizedrates, meaning all prices were basically the same. Now, insuranceproviders have more flexibility in rates, discounts and underwriting,which has resulted in less expensive coverage for many consumers.According to a June6, 2009 survey published in the Insurance Journal, averageauto insurance premiums dropped by 8.2 percent during the first year ofmanaged competition, saving Massachusetts customers over $270 million ininsurance premiums. MassDrive believes that there are still manyopportunities for Massachusetts customers to save but it is critical tofind an agent or company that thoroughly understands the new regulationsand discount opportunities.

 

"We demystify the new rules of engagement to help our customers find theright solution," said Bill Suneson, president and co-founder of NGI."Pricing and valuable policy enhancements can now vary widely based onindividual factors or life events and our objective is to help consumersbenefit from the new system by matching them with credits and servicesthat best fit their profile. For example, some drivers may qualify forlow-mileage credits, good student discounts and accident forgivenesswhile others save money for driving hybrid vehicles or being an autoclub member."

 

The company is headquartered in Boston, and operates a sales andcustomer service center in Fall River. Customers can request acustomized quote online at www.massdrive.comor speak with a local licensed MassDrive agent by calling 866-963-8231.MassDrive offers extended office hours, remaining open Monday throughFriday from 8 a.m. to 8 p.m. (EST), and Saturday from 10 a.m. to 2 p.m.

 

For more information about deregulation and managed competition,MassDrive offers www.MassDriver.org,an online consumer education and advocacy resource.

 

About MassDrive

 

MassDrive Direct Auto Insurance is a specialty auto insurance resourceaimed at making the purchase of reliable, "right-fit" coverage easierand more affordable for Massachusetts's drivers. It was created toembrace deregulation and provide consumers with the value of a localagent and the convenience of a direct-to-consumer approach. Owned byparent company Next Generation Insurance Group, LLC (NGI), MassDrive isbased out of Boston with a sales center in Fall River, MA.

 

About NGI Group, LLC

 

Next Generation Insurance Group, LLC is a nationalinsurance sales andmarketing firm that enables consumers and organizations to manage riskaffordably. The Boston- and Phoenix-based firm is an authority onrelevant, "right-fit" insurance products for specific life stages andlife events, including www.GradGuard.comand www.MassDrive.com.NGI applies its expertise in affinity, collegiate, internet and youngadult marketing to design and market specialty insurance programs. Formore information, please visit www.NextGenIns.com.