LOCAL INSURANCE INNOVATORS HELP DRIVERS REMOVE THE COMPLEXITY OF MANAGED COMPETITION
Boston, MA, July 14, 2009 - As one of the first local companies to eagerly embrace auto insurance deregulation in Massachusetts, today Next Generation Insurance Group (NGI) announces the launch of MassDrive Direct Auto Insurance. The new hybrid business model provides Massachusetts drivers with the value of a traditional independent agent and the convenience of shopping online or by phone. MassDrive's innovative service was created to help consumers find significant savings opportunities by removing the confusion and doing the detailed homework required as a result of the newly competitive marketplace.
Before the deregulation mandate, also called the managed competition system, auto insurance providers were required to offer standardized rates, meaning all prices were basically the same. Now, insurance providers have more flexibility in rates, discounts and underwriting, which has resulted in less expensive coverage for many consumers. According to a June 6, 2009 survey published in the Insurance Journal, average auto insurance premiums dropped by 8.2 percent during the first year of managed competition, saving Massachusetts customers over $270 million in insurance premiums. MassDrive believes that there are still many opportunities for Massachusetts customers to save but it is critical to find an agent or company that thoroughly understands the new regulations and discount opportunities.
"We demystify the new rules of engagement to help our customers find the right solution," said Bill Suneson, president and co-founder of NGI. "Pricing and valuable policy enhancements can now vary widely based on individual factors or life events and our objective is to help consumers benefit from the new system by matching them with credits and services that best fit their profile. For example, some drivers may qualify for low-mileage credits, good student discounts and accident forgiveness while others save money for driving hybrid vehicles or being an auto club member."
The company is headquartered in Boston, and operates a sales and customer service center in Fall River. Customers can request a customized quote online at www.massdrive.com or speak with a local licensed MassDrive agent by calling 866-963-8231. MassDrive offers extended office hours, remaining open Monday through Friday from 8 a.m. to 8 p.m. (EST), and Saturday from 10 a.m. to 2 p.m.
For more information about deregulation and managed competition, MassDrive offers www.MassDriver.org, an online consumer education and advocacy resource.
About MassDrive
MassDrive Direct Auto Insurance is a specialty auto insurance resource aimed at making the purchase of reliable, "right-fit" coverage easier and more affordable for Massachusetts's drivers. It was created to embrace deregulation and provide consumers with the value of a local agent and the convenience of a direct-to-consumer approach. Owned by parent-company Next Generation Insurance Group, LLC (NGI), MassDrive is based out of Boston with a sales center in Fall River, MA.
About NGI Group, LLC
Next Generation Insurance Group, LLC is a national insurance sales and marketing firm that enables consumers and organizations to manage risk affordably. The Boston- and Phoenix-based firm is an authority on relevant, "right-fit" insurance products for specific life stages and life events, including www.GradGuard.com and www.MassDrive.com. NGI applies its expertise in affinity, collegiate, internet and young adult marketing to design and market specialty insurance programs. For more information, please visit www.NextGenIns.com.