The reality of business in modern times is that the internet has changed the way in which we buy things. These same trends have had an impact on the insurance industry as well. Most often, people choose to visit a local insurance agent in order to purchase their insurance. However, with the internet, many find that they are able to purchase insurance from the comfort of their own homes. One company which has managed to continue to sell insurance online and keep their agents employed is Plymouth Rock Assurance. In this new business model, agents are there to enrich the experience that a customer has when purchasing insurance.
Plymouth Rock Assurance – Allows Insurance To Be Sold Online
Plymouth Rock Assurance allows customers to purchase insurance online yet still be in contact with an insurance agent. With this business model, the company has been selling insurance for years to their customers. The majority of insurance customers are still buying insurance through agents, but an ever-increasing segment are purchasing online. Thus, Plymouth Rock Assurance is doing it’s part to ensure that it’s agents still remain employed. Agents are able to earn their commissions from the sales of insurance policies at an average of 10-15%. Agents are also able to answer a customer’s questions about an insurance policy which they are about to purchase.
James Stone – Harvard Professor and Founder of Plymouth Rock Assurance
James Stone is the founder of Plymouth Rock Assurance. He was previously a professor at Harvard University in Economics. During his time at Harvard, he was also appointed as the Massachusetts commissioner of insurance starting in 1975, followed by the presidency of the Commodity Futures Trading Commission. Plymouth Rock Assurance was founded in 1982, whereby James Stone leveraged his experience to start a successful insurance business.