By Susan Rash
Gives Agents Direct Access to Product, More Coverage Options for Clients
Monmouth Junction, N.J. (May 7, 2014) – ANE, Agency Network Exchange, today announced an agreement with Hyundai Marine & Fire Insurance Company that will give its members direct access to Hyundai’s new homeowners insurance product. ANE and its member agents collaborated with Hyundai to develop this product, which will give ANE agents 50 percent more commission than if they placed the business through an insurance wholesaler for the same product.
“The Hyundai homeowners insurance product is an exciting addition to the ANE portfolio for our member agents and their clients,” said John K. Tiene, chief executive officer, ANE. “ANE is committed to promoting new lines of business and establishing relationships with large insurance carriers like Hyundai that facilitate those sales for our members”
Hyundai’s new homeowners insurance product provides coverage options not found in many typical homeowner’s policies, including:
· Home Systems Protection: covers repairs and replacement when home systems and equipment fail, such as central heating, air conditioning and dishwashers.
· Identity Recovery and Fraud: provides clients with protection and recovery assistance from identity theft.
· Service Line Coverage: covers repair and replacement of service lines on the homeowner’s property, including outdoor property.
· Water Backup & Sump Pump Coverage and Sinkhole Collapse: covers non-flood-related water back-ups through sewer lines, drains and sump pump overflow, and structural damage caused by sinkhole activity.
ANE has grown from just seven members in 2009 to a network of more than 40 independent insurance agencies with over $350 million in controlled premiums. Formerly Consolidated Insurance Agents, ANE recently announced that it is expanding into Pennsylvania and other mid-Atlantic states (read the release). In the last three years, ANE has helped its members write more than $25 million in organic new business and paid more than $1.8 million in profit sharing to members this year.
About Hyundai Marine & Fire Insurance
Hyundai Marine & Fire Insurance is one of the nation’s biggest non-life insurers in terms of sales revenue and assets under management, and holds an A (Excellent) credit rating from A.M. Best, A- credit rating from S&P (Standard and Poor’s), renowned global credit rating agencies. For more information, visit www.hyundaiinsuranceusa.com/.
About ANE
ANE, Agency Network Exchange, was founded in 2009 to give independent insurance agents increased strength in the marketplace. ANE enables agents to maintain 100% ownership and control of their agencies, while giving them the economy of scale to increase contingent income and access broader markets. For more information, please visit ane-agents.com.
