LOS ANGELES, Dec. 12, 2014 /PRNewswire/ -- Farmers Insurance, one of the nation's largest multiline insurers, is set to begin providing insurance and financial services to Connecticut consumers January 1, 2015, pending regulatory approvals, according to company executives who recently briefed local media representatives on the company's plans.
"Farmers is excited about its entry into Connecticut and continuing our successful eastern expansion efforts in the Constitution State. We believe consumers in Connecticut will be attracted to our array of products and the value a Farmers agent brings to make them smart about insurance," said Carl Hackling, head of exclusive agent distribution in the East Zone for Farmers Insurance. "Also, as we build our business in the state, Farmers will be able to provide a growing number of entrepreneurial opportunities for those interested in becoming Farmers Agency Owners."
Beginning in 2011, Farmers began a concerted effort to expand its presence along the eastern seaboard. The national insurer opened new offices in Pennsylvania in the first part of that year, followed by New Jersey later in the year. In 2012, it opened operations in Georgia and Maryland, and added the New York market in 2013. Connecticut will become the 35th state in which it provides insurance through its exclusive agent distribution system when it begins operations on the first of the year.
With its large number of consumers who tend to have a higher volume of insurable assets and who value the personal service provided by highly-trained and experienced Agency Owners, the move into Connecticut is part of an ongoing progression by Farmers to continue its growth across the country. The state also offers a tradition of rate and loss history stability, an opportunity to further spread its risk exposure and the ability to further leverage its national branding campaign.
To date, the company's eastern expansion efforts have resulted in the placement of approximately 800 new Agency Owners spread across the five new states that have generated approximately $250 million in additional premium for Farmers. Entering the Connecticut market will help drive additional Agency Owner opportunities in the state that will, in turn, help to drive new revenue for the insurer.
"In 2015 alone, we are looking to add 30 new Agency Owners in Connecticut with additional appointments in the succeeding years," said Hackling. "To help fill our needs, we are aggressively seeking capitalized entrepreneurs to consider the Farmers Agency Owner Opportunity. With an array of over 50 products and the generational wealth opportunities provided by our innovative agency contract, we are confident Farmers offers unique benefits to those who are entertaining the idea of agency ownership."
Founded in 1928, the insurer is one of the most recognized brands in the industry with an advertising campaign featuring the noted actor, J.K. Simmons, who stresses the value of being smart about insurance choices and helps consumers understand potential gaps may exist in their current insurance coverages.
To further serve consumers, Farmers has also begun developing affiliations with leading brands like TrueCar and Pets Best Insurance to bring an improved car shopping experience and four-legged family member insurance options to consumers. It has also launched a special web portal, Farmers Inner Circle, where consumers can find smart tips for their home, car and life.
Its claims and service operations infrastructure also provides round the clock accessibility for customers needing assistance.
The Farmers Insurance Group of Companies operates several leading insurance brands in the U.S. insurance marketplace, including Farmers Insurance, Foremost Insurance, 21st Century Insurance and the Bristol West Insurance Company. Farmers Insurance proudly provides its unique brand of insurance products and services through its exclusive Agency Owner distribution system.
Those wishing to learn more about the company's Agency Owner opportunities in the state are urged to visit its dedicated web site, BeAFarmersAgent.com, for additional details.
About Farmers Insurance
Farmers Insurance Group of Companies is a leading U.S. insurer group of automobiles, homes and small businesses and also provides a wide range of other insurance and financial services products. Farmers Insurance is proud to serve more than 10 million households with more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and approximately 22,000 employees. For more information about Farmers, visit its Web site at www.farmers.com or at www.Facebook.com/FarmersInsurance.
SOURCE Farmers Insurance