Infinity Property & Casualty Corporation (NASDAQ: IPCC) is a leading nonstandard personal auto insurer. Nonstandard auto insurance provides coverage to drivers who, due to their driving record, age or vehicle type, represent higher than normal risks and pay higher rates for comparable coverage.
Customer Focus:
Our innovative automobile products and services are tailored to meet the diverse needs of our customers. We offer three distinct personal auto products:
Our Low Cost policy is designed for individuals who may have blemishes on their driving records or for those who want to buy insurance to meet their state’s minimum insurance requirements. These individuals are primarily focused on obtaining basic coverage at the lowest price.
Our Value-Added policy is designed for those customers who want to buy insurance to protect their assets, but may have a violation or two on their driving record. This policy has broader coverage than the Low Cost policy.
Our Premier policy is designed for the customer who typically has a clean driving record and wants higher limits and even broader coverage.
We also offer nonstandard commercial automobile coverage to businesses that employ one or more nonstandard risk drivers. Target businesses include fleets of 12 or fewer vehicles while businesses that involve hazardous operations or interstate commerce are generally avoided.
Geographic Focus:
We hold licenses to write insurance in all 50 states, but are committed to growth in targeted urban areas ("Urban Zones") identified within selected focus states that management believes offer the greatest opportunity for premium growth and profitability. We classify the states in which we operate into the following categories:
"Focus States" are the states in which we have identified Urban Zones. These states include: Arizona, California, Connecticut, Florida, Georgia, Illinois, Nevada, Pennsylvania and Texas.
We further classify the Focus States into two categories:
"Urban Zones" include the following areas: Allentown, Atlanta, Chicago, Dallas, Fort Worth, Hartford, Houston, Jacksonville, Las Vegas, Los Angeles, Miami, Orlando, Philadelphia, Phoenix, Sacramento, San Antonio, San Diego, San Francisco, San Joaquin Valley, Sarasota, Tampa and Tucson.
"Non-Urban Zones" include all remaining areas in the Focus States located outside of a designated Urban Zone.
"Maintenance States” are the states in which we are maintaining our writings and include Alabama, Colorado, Indiana, Mississippi, Missouri, Ohio, South Carolina and Tennessee. These states contain no Urban Zones, but still offer us an opportunity for underwriting profit.
Distribution:
Our products are available to customers through a network of over 13,000 independent agents and strategic partners.
