MANAGE & LEAD MARKETS
LIBERTY MUTUAL INSURANCE LAUNCHES COMPARION INSURANCE AGENCY
By : Will Jones
Liberty Mutual Insurance is launching a digital agency called Comparion , which will offer auto , home , and small commercial insurance options from Liberty Mutual and more than 50 other national and regional carriers . Upon approval of state insurance regulators , the nation ' s sixth-largest personal lines property-casualty insurer is planning to transition more than 2,200 exclusive insurance agents in 200 offices to work for the new agency .
“ Personal insurance buyers and small business owners want expert advice and broad choice in insurance coverage and price , and Liberty Mutual is better positioned to provide these by transitioning our exclusive agent operation to an agency model ," said Chris Capone , Liberty Mutual president , exclusive agency distribution , global retail markets U . S .
“ We are creating a digitally enabled agency of tremendous scale that provides our producers with best-in-class support along with a broad and deep product suite to serve their customers while accomplishing their financial goals ," he said .
Liberty Mutual is hiring hundreds of sales professional talent across the country in advance of the transition . Comparion agents receive uncapped earnings potential from base pay , sales bonuses , plus new and renewal commission . According to Liberty Mutual , this is not an independent agency model . These producers will not be 1099 independent contractor agents ; instead , they will be the Comparion Insurance Agency employees , a whollyowned subsidiary of Liberty Mutual Group .
When the transition is complete , in addition to accessing personalized Liberty Mutual products delivered by expert local Comparion agents , consumers can also receive Liberty Mutual products from LibertyMutual . com and its licensed call center .
In 2018 , Nationwide announced its intention to shift entirely to an independent agency distribution model , completed in July this year .
Liberty Mutual employs over 45,000 people in 29 countries and economies worldwide . It offers a wide range of insurance products and services , including personal automobile , homeowners , specialty lines , reinsurance , commercial multiple-peril , workers compensation , commercial auto , general liability , surety , and commercial property .
In addition to its soon-to-become Comparion agents , Liberty Mutual distributes its Safeco Insurance personal auto , homeowners , specialty products , and Liberty Mutual small business insurance through more than 10,000 independent agencies countrywide . Further , it will gain a network of approximately 3,400 additional independent agencies across 33 states when its pending acquisition of State Auto Group closes .
Will Jones is IA editor-in-chief .
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