21st Century Car Insurance Claims
21st Century Insurance is an insurance holding company which trades on the New York Stock Exchange under the symbol TW. Its headquarters are in Woodland Hills, California and the company’s office structure comprises 14 service offices, 9 drive-in claim centres and 5 auto inspection centres. 21st Century insures the vehicles of over 1.5 million Californians and those of clients in another eight states of the US. The company’s subsidiaries are 21st Century Insurance Company, 21st Century Insurance Company of California, 21st Century of the Southwest and 21st Century Casualty Company.
The main business of the company is personal auto insurance which the company markets through direct channels – a network of underwriters, direct mail, advertising and the internet – without agents and their commissions, thereby cutting out the middlemen and selling its products at competitive prices.
21st Century is the 7th largest insurer of cars and motorcycles in California; and has over 1.5 policyholders in California and eight other states.
21st Century Insurance sells its auto insurance products to preferred-risk clients and is therefore able to offer discounts such as safe driver, anti-lock brake, airbag, EFT, paid-in-full, defensive and senior driving course and homeowner discounts. Optional extra coverage is also available, such as the company’s registered Security Advantage, rental reimbursement and towing and labour policies.
In addition, the company writes policies for security and travel coverage for auto policy holders which include numerous roadside assistance programs, emergency medical and travel expenses and identity theft restoration.
Customer service at 21st Century is generally recognized for its quality and availability 24/7. Clients of the company also have the choice of turning to online options for the filing of claims and all other matters relating to their policies. J D Power and Associates has rated the company’s call centre as “An Outstanding Customer Service Experience”, and 21st Century Insurance has received the Achievement in Customer Excellence (ACE)™ award on numerous occasions.
History of 21st Century Insurance
In 1958, Louis W. Foster, an experienced independent insurance agent, founded 20th Century Insurance to primarily offer automobile insurance on an inter-insurance exchange basis. His company grew over the years and in 1966 the company, passed the $1 million mark for premiums written in a single year. Foster continued to expand his company, and by 1968, it was converted into a capital stock company.
The company updated its name to 21st Century Insurance as it entered the new millenium. The financial results posted at the end of 2004 showed $1.3 billion in premiums written, revenue of $1.4 billion and assets of $1.9 billion. In 2005, 21st Century was bought by AIG who in turn sold it to Farmers Insurance Group in 2009. The auto insurance company now operates as a subsidiary of that company.
Financial Strength of 21st Century Insurance
A.M. Best, the international ratings company, awarded 21st Century an A (excellent) for its financial strength.