NJM Insurance Group offers new products for small businesses

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Entering the realm of property and liability, the company seeks to become a full-service provider in expanded markets.

In its efforts to continuously meet customer needs and excel in top-notch customer service, NJM Insurance Group is entering the property and casualty insurance market with its ProEdge Business Owners and Commercial Excess and Umbrella policies for small businesses in New Jersey and Pennsylvania.

NJM Insurance is the state’s largest workers’ compensation provider, providing this service for 108 years. It is also among the largest commercial and personal auto insurance providers in the state.

NJM has expanded its footprint over the years and now offers supplemental insurance to workers in Connecticut, Delaware, Maryland, New York and Pennsylvania. In addition to New Jersey, auto, homeowners, condo, renters, and personal umbrella insurance is offered in Connecticut, Ohio, and Pennsylvania.

According to Mitch Livingston, president and CEO of NJM Insurance, one of the reasons the company moved into small business property and liability insurance was that existing commercial customers with Workers’ Compensation continued to ask if NJM had any other offers. “Our answer has always been ‘No,'” says Livingston. “As a policyholder-centric organization, we’ve said ‘no’ too often. We want to say, ‘Yes.’

“So the ProEdge, Commercial Excess and Umbrella policies are our first steps into these lines of business (property and liability). Small businesses can have one-stop shopping through NJM and maintain their relationship with us and continue to benefit from the value proposition we bring.

According to Tracy McManimon, senior vice president and chief underwriting officer of NJM, while the new products are currently offered in New Jersey and Pennsylvania, there are plans to offer them in Maryland, Delaware and Connecticut during the next next year.

Additionally, she says the company is working feverishly to bring the ProPack commercial packaging policy to medium and large businesses. “It will be a flat-rate policy for larger companies that may have an average of $100,000 or more in total account premiums. This will allow us to be the full-service provider for almost everyone,” she says.

Digging deeper into the reasons for expanding into other states, Livingston explains that as NJM’s New Jersey-based client companies found success and expanded into neighboring areas, the company would not was unable to sell supplemental insurance to workers outside of New Jersey. “So when a customer turned to us and said, ‘We now operate in Pennsylvania, Delaware, or Connecticut and we want to continue working with you’, we had to refer them to someone other. As they would succeed, we would lose them. To me, that was unacceptable,” says Livingston.

Part of the new strategy includes selling insurance products through an external agent distribution model. “We’ve been a straight-up writer all these years, but agents have relationships and can help walk us through those relationships and grow out-of-state relationships,” McManimon says. “It will be a team effort between agents and NJM to ensure policyholders have the coverage they need.”

Currently, NJM works with 46 partner agencies covering 130 locations in the previously mentioned states.

Since the insurance industry is a crowded and competitive field where many companies spend over $2 billion a year to grow their market share, NJM needed to differentiate itself by diversifying into the Middle East and Middle East. Where is. Therefore, he engaged the services of The Brownstein Group, a Philadelphia-based advertising and public relations agency.

Brownstein has been focused on NJM’s customer satisfaction excellence – he was ranked #1 in the nation for customer satisfaction with auto insurance claims experience by JD Power last October – and developed the “No Jingles or Mascots” campaign.

“The message is that we’re different because we’re not talking about gimmicks, but about having someone who is going to work with you, make sure you get the right coverage and take care of you,” says Livingston. “You have to be memorable, but you have to be different. I think the [campaign] plays well in our difference.

Since 2018, NJM has been implementing its five-year strategic growth plan, the main objective of which is to become a full-service provider and expand beyond New Jersey. There are still two years to implement the plan, but Livingston says the company is already thinking ahead beyond that.

When asked if NJM plans to go national, he replied, “We’ve done quite a bit of regional expansion. We believe our current expanded footprint meets our current needs for the foreseeable future. … In today’s world, the foreseeable future may be a relatively short time, but for now, we want to succeed in our expanded space.

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