Boston-based Insurer Will Unify Private Traces Below Single Model
Liberty Mutual Insurance coverage introduced plans to consolidate all private strains merchandise beneath 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 impartial agent channel since Liberty Mutual acquired Safeco in 2008.
“This transition will enable us to completely harness the Liberty Mutual model worth for all of our prospects, brokers and companions, throughout all distribution channels,” stated Tyler Asher, Liberty Mutual chief distribution and advertising officer, US Retail Markets. “Importantly, this can considerably simplify our enterprise, enable us to dedicate our appreciable advertising 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 prospects will proceed to work with their impartial brokers, and their insurance policies will stay unaffected other than the identify transition.
Liberty Mutual additionally will proceed to distribute private strains merchandise each by means of impartial brokers and direct-to-consumer channels, sustaining differentiation in product choices.
Luke Payments, president of Impartial Agent Distribution, emphasised the continued help for impartial brokers: “The Safeco legacy is one among power, partnership and an unwavering dedication to impartial brokers. We are going to carry that legacy ahead and can carry our brokers even better 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 impartial businesses. In accordance with the newest knowledge, 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.