Red Bank, N.J.-based High Point Auto Insurance has extended its contract to sell insurance through Prudential Insurance agents till 2014.
High Point was created in 2003 when Palisades Group purchased Prudential Financial's New Jersey property and casualty insurance companies and renamed itself the High Point Companies.
Since the sale, High Point has sold its products through a network of more than 300 Prudential Agents throughout New Jersey. High Point said the contract extension will provide Prudential Agents with continued access to High Point products through March 2014. The agreement was originally set to expire in 2008.
High Point writes both auto and homeowners insurance. In addition to Prudential agents, the company also direct markets its products through mailings and other advertising.
"Securing continued access to the network of professional Prudential Agents was a top priority of ours," said Jim Tignanelli, president of High Point. "We have enjoyed a terrific relationship with the Prudential Agents and look forward to continuing to work with them to grow our business in New Jersey."
"We're pleased to extend the distribution agreement that has led to a positive working experience for our agents in New Jersey," noted John Greene, president, agency distribution for Prudential.
In addition to securing the long-term distribution agreement with Prudential agents High Point said it also plans to:
o Introduce a new auto product later this spring which will lower new business rates by 10 percent.
o Offer new discounts and customer-oriented features.
o Increase funding for agent co-op advertising programs.
o Invest in overall brand awareness advertising with a new TV and outdoor branding campaign to launch this spring.
o Increase sales training and new agent sales technologies.
The companies are online at www.highpointins.com. and www.prudential.com.
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