Superior value proposition and innovative partnerships
→
Decades of claims data with 40,000 distinct makes/models in Hagerty Valuation Tools
→
Engaging, seamless member experience and cross-selling
→
Effective pricing of risk to maintain low loss ratios
5
CNIC acquisition - Hagerty's New Carrier Platform
Continue to drive high rates of written premium growth and retention of underwriting profits
Estimated $18.4 million price for CNIC (Consolidated National Insurance Company)
~$10.4 million for the 38 approved state licenses and ~$8 million for expected capital and surplus
Continue the evolution of Hagerty ecosystem to incorporate a direct underwriting carrier model to better control underwriting profit within Hagerty
Allow Hagerty to remove frictional costs to create more value for customers leveraging the company's high growth, differentiated brokerage platform
Widen the aperture with new products and new coverage offerings to fill an underserved segment of the classic and enthusiast vehicle market
Large opportunity in the post-1980 Enthusiast segment where penetration is <2% today
6
Post 1980 vehicles becoming more impactful for growth
Significant opportunity given <2% penetration today
Collectible vehicles by cohort
Type
Hagerty Penetration & US Auto Insured Vehicle Count
~13%
Pre-1981
1,600,000
Classics
1,400,000
1,200,000
1,000,000
Post 1980
Collectibles
800,000
600,000
~2%
400,000
Total
200,000
-
Jan-12
Jan-13
Jan-14
Jan-15
Jan-16
Jan-17
Jan-18
Jan-19
Jan-20
Jan-21
Jan-22
Jan-23
Total Market
Hagerty
(cars, mm)
Penetration
11.213.3%
35.21.7%
~46.34.5%
Post-1980 Vehicle Count
Pre-1981 Vehicle Count
7
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Disclaimer
Hagerty Inc. published this content on
12 February 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
11 March 2024 16:34:05 UTC.
Hagerty, Inc. is an automotive enthusiast brand and specialty vehicle insurance provider. The Company is a provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the Americans who self-describe as car enthusiasts. Through its insurance model, the Company acts as a Managing General Agent (MGA) by underwriting, selling, and servicing classic car and enthusiast vehicle insurance policies. In addition, the Company offers Hagerty Drivers Club (HDC) memberships, which can be bundled with its insurance policies and give subscribers access to an array of products and services, including Hagerty Drivers Club Magazine, automotive enthusiast events, its proprietary vehicle valuation tool, emergency roadside assistance, and special vehicle-related discounts. The Company provides insurance for approximately 2.4 million classic cars and enthusiast vehicles.
HAGERTY, INC. 
