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Selective Insurance
Selective Insurance

-6.09%

Insurance and reinsurance / Property and casualty insurance

At a Glance | Core Facts | Company | Industry | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview

Selective Insurance is a publicly traded insurance company founded in 1926, headquartered in Branchville, New Jersey. It offers a wide range of commercial and personal insurance products, including property and casualty, flood, auto, and umbrella insurance. Selective serves customers through independent agents in 22 states in the Mid-Atlantic, Southeast, and Midwest regions of the United States.
The company prides itself on providing personalized service and tailored insurance solutions to meet the specific needs of each customer. It also offers risk management services and resources to help businesses prevent and manage losses.
Selective has received several industry accolades, including being named one of "America's Best Mid-Size Employers" by Forbes in 2021 and being recognized as a "Top Workplace" by NJ.com in 2020.
Overall, Selective Insurance is known as a reputable and financially stable company, with a strong focus on customer satisfaction and industry leadership.

What is special about the company?

1. Diverse Insurance Solutions: Selective Insurance offers a wide range of insurance solutions for businesses, individuals, and families, including property and casualty, workers’ compensation, personal and business automobile, flood, and more.
2. Strong Financial Stability: The company is financially stable, with an A+ (Superior) rating from A.M. Best, one of the leading credit rating agencies in the insurance industry.
3. Broad Geographic Reach: Selective Insurance operates in 24 states across the country, making it one of the largest regional insurance companies in the United States.
4. Customer-Centric Approach: The company prides itself on its customer-centric approach, which focuses on providing personalized and innovative insurance solutions tailored to the needs of its clients.
5. Strong Focus on Risk Management: Selective Insurance has a dedicated risk management team that helps businesses and individuals identify and mitigate potential risks, ensuring they have adequate coverage and protection.
6. Commitment to Corporate Social Responsibility: The company has a strong commitment to giving back to the communities it serves, with initiatives focused on education, the environment, and supporting local charities.
7. Innovative Technology: Selective Insurance constantly invests in technology and innovation to provide its customers with a seamless and efficient experience, from policy quotes and claims management to digital tools for risk management.
8. Strong Agent Relationships: The company works closely with its network of independent agents to understand and meet the unique needs of their clients, ensuring personalized and dedicated service.
9. Awards and Recognition: Selective Insurance has received numerous awards and accolades for its financial strength, customer service, and corporate social responsibility efforts.
10. Commitment to Diversity and Inclusion: The company values and promotes diversity and inclusion in its workforce and the communities it serves, striving for equity and equality in all aspects of its operations.

What the company's business model?

Selective Insurance Company is primarily an insurance company that offers a variety of property and casualty insurance products for businesses and individuals. Their business model is focused on providing insurance coverage and risk management services to their customers, generating revenue through premiums and investment income.
Selective offers a range of insurance products, including commercial lines such as property, liability, and workers' compensation insurance, as well as personal lines including homeowners, auto, and flood insurance. They also offer specialty insurance such as marine and environmental insurance.
Selective operates through a network of independent agents who sell and service their insurance policies. The company also has a strong focus on technology and innovation, using data and analytics to improve their underwriting, claims, and customer service processes.
Additionally, Selective offers risk management services to help their customers identify and mitigate potential risks to their businesses. This includes safety and loss control consulting, as well as claims management services.
Overall, the business model of Selective Insurance Company revolves around providing comprehensive insurance coverage and risk management solutions to their customers, while also prioritizing strong partnerships with their independent agents and leveraging technology to improve their operations.

Interesting facts about the company

1. Founded in 1926, Selective Insurance is one of the oldest property and casualty insurance companies in the United States.
2. The company’s headquarters is located in Branchville, New Jersey.
3. Selective Insurance offers a wide range of insurance products, including business insurance, personal insurance, flood insurance, and specialty insurance.
4. Selective Insurance has a financial strength rating of A (Excellent) from A.M. Best, indicating a stable financial outlook.
5. In addition to its insurance services, Selective Insurance also offers risk management and loss control services to its customers.
6. The company has over 2,000 employees and operates in 25 states.
7. Selective Insurance has been named one of the World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.
8. The company has a strong commitment to sustainability and has been recognized for its efforts in reducing its environmental impact.
9. Selective Insurance is actively involved in giving back to the community through its Selective Insurance Foundation, which supports charitable organizations and community projects.
10. Selective Insurance has received numerous awards for its customer service excellence, including being named a Top 10 Elite Agency Partner by Insurance Business America magazine.

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