Hagerty hires president of insurance
Hagerty hires president of insurance | Insurance Business Canada
Insurance News
Hagerty hires president of insurance
Move effective in July
Insurance News
By
Terry Gangcuangco
Hagerty has appointed Jeff Briglia (pictured) as president of insurance with oversight across all facets of the firm’s insurance operations.
“I’m excited to join Hagerty’s high-performing leadership team as the company delivers strong rates of top- and bottom-line growth,” said Briglia, whose appointment takes effect on July 1. “Hagerty has built the best brand in the insurance world by delivering quality products and services to millions of automotive enthusiasts.
“I look forward to helping the company further improve the direct-to-consumer business while laying the groundwork for future opportunities that will power Hagerty’s growth over the next decade.”
Spanning 22 years of experience in the insurance sector, Briglia’s credentials include time spent as president and chief executive of Plymouth Rock Assurance’s Direct and Partner Group, chief operating officer and chief insurance officer at Metromile Insurance, as well as 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 sustained profit growth,” Hagerty chief executive and chairman McKeel Hagerty commented.
“Jeff has a proven track record of strategic change management across a variety of business areas, including product, claims, distribution, marketing, sales, and customer service. His experience and leadership will help us identify opportunities to add value for members.”
The appointment comes on the heels of Hagerty bouncing back in the first quarter, from a net loss of more than US$15 million in Q1 2023 to nearly US$8.2 million in net income this year.
In May, the firm’s CEO said: “We are off to a great start in 2024 as the initiatives undertaken in 2023 powered strong top-line momentum and significant margin expansion. Total revenue gains of 24% were fuelled by written premium growth of 19% as our brand strength and performance marketing efforts drove high rates of compounding growth in new members.
“Importantly, we are acquiring new customers and serving existing ones more efficiently than ever, resulting in operating margin expansion of 1,210 basis points.”
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