SOMERSET, N.J., March 13, 2014 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) unveiled its Platinum Experience, a robust package of bundled auto and home insurance products and services for independent agents to offer their account-oriented customers, in New Jersey and New York.

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In an increasingly competitive and dynamic personal lines environment, Platinum addresses a growing market opportunity for independent agents to offer enhanced total household insurance inclusive of auto, home, umbrella and recreational vehicles. With one policy, one coverage effective date, and one bill, agents can leverage their expertise to guide customers through a comprehensive portfolio of features and coverage levels that provide greater value.

A 2013 Accenture study called "Playing to Win" indicated that most insurance products have some level of complexity that requires expertise. The study concluded that the insurer of the future will need to package and deliver coverage in a way that customers find easy to understand and use, without downplaying the complex nature of the solution. That future is here.

"As more and more direct writers flood the market with a focus primarily on price, we are thrilled to offer our independent agents a completely different approach that is aimed at creating value and developing deep, long-term relationships with customers," said Mark R. Desrochers, president, Personal Lines at The Hanover. "The Hanover Platinum Experience provides solutions that help our agent partners sell value, save time and grow their businesses."

More than 40% of insurance customers in the Accenture study said they are willing to pay more for personalized advice or assistance when purchasing insurance, a number which has increased by 6 percentage points since 2010.

"We share a belief that providing personalized counsel to help manage risk is the lynchpin for success long term," Desrochers said. "Consumers are willing to pay more for a high value, quality product like Platinum. It's a win for agents and their customers."

The Hanover began offering Platinum in early 2013 and it has quickly become the most popular Hanover personal lines product. In addition to single bill and common effective dates, Platinum customers receive a waiver of deductible for a multi-property loss; enhanced car rental coverage; OEM mechanical parts replacement; as well as personal property replacement at full cost. Online services address the growing customer interest in a total account view online to pay bills, print ID cards and file a claim. Complimentary access to auto and home maintenance and inventory websites is also provided, with customization based on the user's property and cars.

At the recent Platinum launch events in New Jersey and New York the company reaffirmed its commitment to distributing products exclusively through a network of independent agents and brokers. "We are very selective in the appointment of independent agents. Our agents and their staffs do a terrific job of providing advice, counsel and selling value to value-oriented customers," Desrochers added.

The Hanover plans to roll out the Platinum Experience to six additional states in the coming year. Based in Worcester, Mass., The Hanover is a leading provider of business, home, auto, valuables and recreational vehicle insurance coverage. For more information, visit www.hanover.com.

ABOUT THE HANOVER

The Hanover Insurance Group, Inc., based in Worcester, Mass., is one of the top 25 property and casualty insurers in the United States. For more than 160 years, The Hanover has provided a wide range of property and casualty products and services to businesses, individuals, and families. The Hanover distributes its products through a select group of agents and brokers. Through its international member company, Chaucer, The Hanover also underwrites business at Lloyd's of London in several major insurance and reinsurance classes including political risk, marine, aviation and energy. For more information, please visit hanover.com.

CONTACT:
Karen O'Neil
Media Relations
koneil@hanover.com
(508) 855-6367

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SOURCE The Hanover Insurance Group, Inc.