The Main Street America Group has launched its new Personal Auto MVP in New York, Virginia, Michigan and Rhode Island. The product is now available in 13 states.
Personal Auto MVP is a new rating program designed to provide greater pricing flexibility for the super regional property-casualty carrier’s new personal auto policies. It is based on “predictive modeling” or “multivariate” rating, which considers a variety of risk characteristics simultaneously, as well as the interactions and correlations among these characteristics, to price a policy.
Additionally, with Personal Auto MVP’s expanded underwriting guidelines, 80 to 85 percent of the available private passenger auto market would quality for coverage, including drivers with one “driving under the influence” conviction but an otherwise clean driving record.
Kickoff meetings in the four additional states drew strong attendance by Main Street America’s independent agent-customers, especially in New York, the carrier’s largest state for personal auto premium.
In Michigan, where Main Street America began writing business in fourth quarter 2008 through the acquisition of Great Lakes Casualty Insurance Company, the carrier’s MVP Auto Elite package of endorsements was also made available to its new network of nearly 100 independent agent-customers.
The company’s Virginia agent-customers are able to quote and issue new Personal Auto MVP business, as well as homeowners business, through Main Street America’s new Main Street Station for Personal Lines policy processing system. The new system provides real-time rating, automated underwriting and 24-hour access.
Main Street America is rolling out Personal Auto MVP, MVP Auto Elite and Main Street Station for Personal Lines on a state-by-state basis to its agent-customers throughout the states where it writes business.