Hagerty elects insurance president | Insurance business America
The move will take effect in July
Insurance News
By Terry Gangcuangco
Hagerty has named Jeff Briglia (pictured) president of the insurance division, overseeing all aspects of the company’s insurance business.
“I am pleased to join Hagerty’s high-performing leadership team as the company delivers strong revenue and earnings growth rates,” said Briglia, whose appointment is effective July 1. “Hagerty has built the best insurance brand in the world by delivering high-quality products and services to millions of automotive enthusiasts.
“I look forward to helping the company continue to improve its direct-to-consumer business while laying the foundation for future opportunities that will drive Hagerty’s growth over the next decade.”
Briglia’s credentials, which span 22 years of experience in the insurance industry, include time as President and CEO of Plymouth Rock Assurance’s Direct and Partner Group, Chief Operating Officer and Chief Insurance Officer at Metromile Insurance, and significant stints at Progressive, Allstate, and Mercury Insurance.
“I am pleased to welcome Jeff to the Hagerty team as we continue to position the company for sustainable earnings growth,” commented McKeel Hagerty, CEO and Chairman of Hagerty.
“Jeff has a proven track record of strategic change management across a variety of business areas including product, claims, sales, marketing, sales and customer service. His experience and leadership will help us identify opportunities that provide added value to members.”
The appointment follows Hagerty’s first-quarter recovery, from a net loss of more than $15 million in the first quarter of 2023 to a net profit of nearly $8.2 million this year.
In May, the company’s CEO said: “We are off to a great start to 2024 as the initiatives taken in 2023 delivered strong revenue momentum and significant margin expansion.” The overall revenue increase of 24% was driven by growth in premiums written of 19% as our brand strength and performance marketing efforts resulted in high new member growth rates.
“Importantly, we are attracting new customers and serving existing customers more efficiently than ever before, resulting in an operating margin increase of 1,210 basis points.”
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2024-06-03 09:24:02
www.insurancebusinessmag.com
