Mercury Insurance has partnered with Tokio Marine America (TMA) have partnered to ease the transition of customers from TMA and its subsidiary, Trans Pacific Insurance Company (TPIC), customers to Mercury Insurance.
This collaboration is in response to TMA’s decision to exit the personal lines insurance market in California due to sustainability challenges, according to InsurTech Insights.
Mercury Insurance is working closely with California independent insurance agents to ensure a seamless transition for customers from TMA to Mercury. The collaboration includes over a dozen TMA agents who have been offered appointments with Mercury, further facilitating the transition process.
Mercury Insurance is recognised for its broad range of insurance products and dedication to meeting the diverse needs of customers across California. Tokio Marine America specialises in personal and commercial lines insurance, prioritising client satisfaction and service excellence.
Gabriel Tirador, Chief Executive Officer and Director of Mercury, said: “Innovative solutions surface during challenging times. A diverse group of entities worked together on this project with the common goal of providing coverage for California insurance consumers. We believe very strongly in California’s future. The steps Commissioner Lara and the California Department of Insurance are taking to modernize the insurance market through the Commissioner’s “Sustainable Insurance Strategy” will help stabilize the market and create a transparent, sustainable model that will benefit California consumers.”
Daisuke Ugaeri, Chief Executive Officer at Tokio Marine America also commented, saying: “We are pleased to have reached an agreement with Mercury Insurance Group to support our personal lines agents and customers during this transition period. Tokio Marine America remains committed to commercial lines in California — and across the country — and supporting our agents and customers with exceptional service through this transition.”
Brandt Minnich, Mercury’s Vice President and Chief Sales Development Officer, added: “Tokio Marine America customers are similar to ours in terms of their coverage needs and their insurance agent relationships. Starting in January 2024, we began working with TMA to bring together a cohesive group of independent agents who could facilitate the transfer of their policies to Mercury for those customers who were interested, ensuring continuing coverage.”
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