Amica Mutual Insurance Company will amicably serve your insurance
needs. The company provides a variety of personal insurance
products, including auto, home, and life policies, as well as
marine and excess liability coverage. Amica sells its policies
directly to customers through some 40 offices throughout the
US. The oldest mutual automobile insurance company in the US, it
traces its roots back to 1907 (when fire coverage was a car owner's
most important need due to the danger of exploding gas tanks).
Amica, the company's current incarnation, was formed in 1973 when
Automobile Mutual Insurance Company of America combined with
Factory Mutual Liability Insurance Company of America.
Property/casualty coverage is Amica's strong suit, and it offers
coverage ranging from renter's insurance to marine insurance on
yachts. Its life insurance and annuity offerings include
long-term care and life settlement products.
With some 1.4 million policies in place, the company has
assets valued at more than $4 billion. It processed more than
300,000 auto claims and nearly 70,000 homeowner claims in 2011.
Amica Mutual underwrites most of the property/casualty policies,
with its Amica Property and Casualty Insurance and Amica
Lloyd's of Texas unit handling policies in New Jersey and Texas,
respectively. Life insurance is issued through the Amica Life
Insurance Company subsidiary. The company also has two insurance
brokerage subsidiaries: Amica General Agency, which serves
specialty customers across the US, and Amica General Insurance
Agency of California, which serves states in the West.
Sales and Marketing
Amica Mutual uses radio and internet advertising, as well as
direct mail and social media campaigns, to market its products.
Amica Mutual increased revenues by 7% in 2011 due to increased
returns on investments, higher premiums, and tax benefits. Net
income fell 39%, however, due to a rise in claim payouts on
The company has successfully expanded its policy sales
volumes through marketing initiatives and technology
enhancements in recent years. For example, Amica Mutual has
upgraded its phone systems, implemented an electronic claims
filing system, and launched a new website. It is also opening new
regional offices to enhance customer service.
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