WORCESTER, Mass., April 5 /PRNewswire-FirstCall/ — The Hanover Insurance Group, Inc. (NYSE:THG) , a leading super regional property and casualty company, today announced the launch of a new homeowners insurance product, Connections(TM) Home, in Indiana and Wisconsin. This announcement follows the launch of Connections Home in Connecticut, Illinois, Maine, New York, Ohio and Tennessee, where the product has increased homeowners’ quotes for The Hanover since its launch.
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Connections Home makes it easier for agents to sell and retain more business by providing a total account solution, competitive coverage packages, enhanced premium choices, an expanded appetite and reliable, more convenient service.
The introduction of Connections Home completes The Hanover’s total account solution for personal lines, giving the company’s agent partners the products they need to sell and retain more business.
“We are excited that the market is responding so enthusiastically to Connections Home,” said Jim Hyatt, president of The Hanover’s personal lines group. “With Connections Home our agent partners can tailor a homeowners program to the unique needs of their customers, all while giving their customers more say in what their insurance policy will look like.”
Connections Home offers four package options: Basic, Select, Select Plus and Select Premium. Umbrella coverage is also available as an endorsement in most states including Indiana and Wisconsin, a unique feature that makes it easier for agents to do business with The Hanover and provides a cost- effective way for customers to enhance their liability coverage.*
The Hanover is also debuting newly-enhanced point-of-sale (POS) screens for Connections Home. The advancement simplifies the way agents do business with The Hanover through ease-of-doing business tools like pre-fill and quick quotes. The easy-to-use interface provides The Hanover’s agent partners more opportunities than ever before to cross sell scheduled coverages.
Connections Home also will empower agency customer service representatives (CSRs) to be more consultative with clients, clearly articulate coverage differences and easily change deductibles. Each of these benefits adds value to the sales process, helping agents to generate more business.
Connections Home is available in the following packages, which can vary based on state mandate:
— Basic: A contemporary, competitively-priced plan for cost-conscious homeowners that includes replacement cost protection up to a dwelling’s value.
— Select: Offers the same coverage as Basic, as well as extended dwelling replacement cost, personal property replacement cost (caps vary by state), refrigerated products coverage and lock replacement. In addition, there are
three limit increases over basic for contents, damage to property of others and Fire Department service.
— Select Plus: Includes the same coverage as Select, as well as even more features. These include additional coverage for water back-up, identity fraud, personal injury, extended dwelling replacement cost, personal property replacement cost and sixteen limit increases including ordinance of law and loss of use.
— Select Premium: This premium coverage is designed for coverage- conscious customers with sophisticated assets. In addition to offering the wide range of coverage from Select Plus, insureds get a waived deductible for losses over $50,000 and coverage for all-risk personal property, lost or misplaced jewelry, identity fraud expenses and personal injury. In addition, there are many limit increases over Select Plus, including water back-up, sump overflow and mysterious jewelry disappearance.
With this launch, agents can now quote Connections Home in 10 states including Arkansas, Connecticut, Illinois, Indiana, Maine, Michigan, New York, Ohio, Tennessee and Wisconsin. The product will also be available in Georgia, Massachusetts, New Hampshire, New Jersey, Oklahoma and Virginia later in 2007. Two years ago, The Hanover launched Connections(TM) Auto with great success. This personal automobile product drove private passenger automobile new business growth of more than 150 percent in the first 12 months. Customers insured through both Connections Home and Connections Auto will receive a premium discount, in addition to a wide range of protection.
“Life is easier when you have Connections”
For more information on the Connections(TM) product suite, agents can contact one of The Hanover’s local branch offices or visit the company at www.hanover.com. Customers interested in purchasing insurance coverage from The Hanover should contact their local independent insurance agent.
*Umbrella endorsement option not currently available in all states.About The Hanover
The Hanover Insurance Group, Inc. (NYSE:THG) , based in Worcester, Mass., is the holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester; Citizens Insurance Company of America, headquartered in Howell, Mich., and their affiliates. The Hanover offers a wide range of property and casualty products and services to individuals, families and businesses through an extensive network of independent agents, and has been meeting its obligations to its agent partners and their customers for more than 150 years. Taken as a group, The Hanover ranks among the top 35 property and casualty insurers in the United States.
CONTACTS:
Investor Relations Media Relations
Sujata Mutalik Amy Lynn Banek
smutalik@hanover.com abanek@hanover.com
(508) 855-3457 (508) 855-4486
