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Freedom Insurance Group - Discovering The Right Information

Freedom Insurance has remained in Texas for years. The firm is a leader in the Texas home owner's insurance market as well as their name remains synonymous with great customer care and also inexpensive rates. Freedom Insurance is even licensed to offer car insurance in Texas. As a matter of fact, Freedom Insurance is just one of only three firms in Texas that are allowed to do company in the state. The other two business, Allstate Insurer as well as Geico Insurance Provider, are not permitted to offer property owner's insurance in Texas under any type of scenarios.

 

Freedom Insurance is undertaking a quick rise in car insurance prices as well as house owners insurance. According to a press release, the business plans to increase its Texas existence by 25 percent within the following couple of months. He included that Freedom Insurance is placed to bring those expensive costs prices down by having a solid advertising program and also a keen concentrate on increasing its rankings with its present customers.

 

According to Freedom Insurance president and Chief Executive Officer, Richard Parsons, "The extra market share comes from a variety of variables. One is the group rating, which is now second just to GE in our state. The other factors are reduced costs and also a substantial number of new clients, specifically in areas where we don't currently run as a significant player."

 

Freedom Insurance has strategies to broaden its offerings in the Texas insurance market. Mr. Parsons indicated that Freedom will certainly soon introduce a Web site that will permit the general public to acquire quotes online. The site will certainly enable the general public to request information from various insurance service providers and compare the various plans. Freedom will certainly remain to operate independently from its parent business, Allstate Insurance. Mr. Parsons mentioned, "This will allow us to remain to focus on our staminas and improve our staminas."

 

Freedom Insurance has actually just recently been in discussions with several different business for circulation legal rights. Mr. Parsons declined to supply particular information however mentioned, "I would say our goal is to remain to be the Texas Insurance company of option." In November, Freedom Insurance sold a group of twenty-nine states to Allstate Insurance. The purchase was valued at about 4 hundred million dollars. Mr. Parsons suggested that he sees this as a positive for the company, "The most effective thing is we can remain to focus on our strengths as well as broaden right into brand-new areas. That is constantly helpful for any kind of business."

 

Mr. Atkins believes that Freedom can take on larger competing business by being "lighterweight". He stated that he would not anticipate Freedom Insurance to carry the same group rates as Allstate. Freedom would probably concentrate on the group or private customer instead of on the large group client such as Allstate. Mr. Atkins hopes that Freedom will bring in enough brand-new clients that it will begin to move up in group costs.

 

Freedom Insurance is not the only insurance team that is transforming its focus to clients that do not include lots of individuals. The other business, Allstate, has additionally changed its emphasis from large group plans to individual authorities. The factor for this modification was in component due to the fact that much of their customers were seasonal and would not transform to a plan with Allstate. Mr. Atkins really feels that the new focus of these 2 insurance provider is a positive for the entire insurance market. "This enables us to penetrate a more comprehensive audience with much better solution and also reduced costs," he said. Mr. Atkins prepares for that this will certainly additionally boost competition within the market.

 

Freedom Insurance still does bring specific as well as group policies for all chauffeurs. Much of the team plans have actually had a reduced revival rate just recently, primarily due to the financial problems. A low revival price usually means that the business enjoys with the solution they are offering and is not expecting to obtain a high variety of brand-new customers. Freedom Insurance is likewise pleased that it is able to keep its claim data up to day, despite the fact that it is shedding the group market.