Agency Network Exchange was unveiled today as the new name of Consolidated Insurance Agents of New Jersey, as the network of independent insurance agents kicked off its expansion beyond New Jersey and into Pennsylvania and other mid-Atlantic states.
Founded in 2009, Monmouth Junction-based ANE enables insurance agents to join forces and achieve the economies of scale and marketplace clout of a larger organization.
And the best part is they get to retain their independence.
"ANE is building on our mission to help member agents by expanding into new regions, starting with Pennsylvania, and adding exclusive programs and services that help members attract more clients and grow their agencies with truly organic new business," said John Tiene, chief executive officer, ANE.
Tiene said the new name gives the company a brand and trademark that can be used across multiple states.
"Our new name ANE signifies our continued growth and development as the most flexible and innovative model for the next evolution of the independent agency distribution system," he said.
Tiene has started meeting with insurance agents in Pennsylvania and Massachusetts who are interested in joining the company.
"The demand is there, our platform is working, and so we're going to go forward" with the expansion.
ANE also announced on Thursday three exclusive new programs and a new online portal for its members.
ANE has partnered with Balance Point Payroll to provide payroll services to ANE agents, enabling them to offer "pay-as-you-go" payment options for their workers compensation clients, the company said. The clients will benefit from improved cash flow and greater protection from workers compensation premium audits.
For residential and light commercial construction companies in New Jersey, ANE announced a new workers' compensation program underwritten by Stonewood National Insurance Company.
The company is also partnering with AmTrust to provide members with an exclusive Commercial General Liability Excess & Surplus Lines Insurance Program. The program targets commercial property managers, hospitality, wholesale and retail, and manufacturing.
The company's new online portal allows agents to submit and track applications electronically for all ANE products.
"The ANE portal is the first of many technology advances we are bringing to our members as part of our long-term mission to help them operate more efficiently," said Tiene. "More exclusive program offerings, improved technology and direct access to markets are just some of the tools we provide our members, so they can be successful independent agents."
ANE has grown from seven members in 2009 to a network of more than 40 independent insurance agencies with more than $350 million in aggregate premiums.
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