Central Insurance
Central Insurance is a dynamic company that has enhanced its brand and expanded services, focusing on technology and customer service improvements in 2022.
Services
Central Insurance provides various insurance services, including the teenSMART Driver Safety Program. This program offers discounted rates aimed at promoting smarter and safer driving among teenagers. The company has also partnered with leading roadside assistance provider Agero to enhance customer service. Additionally, Central Insurance has implemented a two-way texting option and uses One Inc's ClaimsPay platform to improve and streamline claims service.
Brand Identity and Initiatives
Central Insurance unveiled a refreshed brand identity, which includes an updated logo and the new tagline: 'Excellence is our policy.' This change reflects the company's commitment to maintaining high standards. In their Annual Report, Central Insurance highlighted their growth and success, and they are setting up for continued growth in 2023. The company has also heavily invested in technology and talent to support this growth trajectory.
Product Offerings
In 2022, Central Insurance introduced a commercial package and business auto options on Tarmika. This move enhances the company's product offerings and strengthens partnerships with agents. The expanded range of products is designed to meet the diverse needs of their customers and agents more effectively.
Financial Performance
Central Insurance achieved a combined ratio of 97.2% in 2022, marking their best performance in seven years. Additionally, the Policyholders' Security Fund surpassed $1 billion, setting a new all-time high. These benchmarks showcase the company's strong financial performance and stability.
Community Initiatives
As part of their community commitment, Central Insurance invested $17 million in the restoration and revitalization of downtown Van Wert through the Van Wert Forward initiative. Furthermore, they are also expanding their footprint by breaking ground on a new 48,322-square-foot Central Ohio Technology Office in Dublin's Bridge Park District, with completion expected in 2023.