Boston-based Insurer Will Unify Private Traces Below Single Model
Liberty Mutual Insurance coverage introduced plans to consolidate all private strains merchandise below the Liberty Mutual model starting in 2026. As a part of the transition, the corporate will retire the Safeco Insurance coverage model, which has served as its unbiased agent channel since Liberty Mutual acquired Safeco in 2008.
“This transition will enable us to totally harness the Liberty Mutual model worth for all of our clients, brokers and companions, throughout all distribution channels,” mentioned Tyler Asher, Liberty Mutual chief distribution and advertising and marketing officer, US Retail Markets. “Importantly, this may considerably simplify our enterprise, enable us to dedicate our appreciable advertising and marketing energy behind a single model, and allow us to leverage and scale our know-how to ship unified however differentiated merchandise and experiences throughout channels.”
Regardless of the model change, Liberty Mutual has assured that each one Safeco clients will proceed to work with their unbiased brokers, and their insurance policies will stay unaffected apart from the title transition.
Liberty Mutual additionally will proceed to distribute private strains merchandise each by means of unbiased brokers and direct-to-consumer channels, sustaining differentiation in product choices.
Luke Payments, president of Unbiased Agent Distribution, emphasised the continued assist for unbiased brokers: “The Safeco legacy is considered one of energy, partnership and an unwavering dedication to unbiased brokers. We’ll carry that legacy ahead and can convey our brokers even higher worth with this model change.”
Since its acquisition in 2008, Safeco has expanded to greater than $13 billion in annual premium, providing private auto, property, and specialty merchandise in 48 states by means of a community of over 22,000 unbiased businesses. Based on the latest information, Liberty Mutual Insurance coverage is the sixth-largest private insurance coverage supplier within the US with $49.4 billion in annual consolidated income as of December 31, 2023.
