21st Century Insurance Story

21st Century Insurance is a company that was registered on the New York Stock Exchange, and has been providing direct to the consumer personal auto insurance. 21st Century Insurance policies cover over 1.5 million vehicles in California and eight other Western, Southwestern, eastern and mid western states. In the state of California, 21st Century Insurance is considered to be seventh largest personal auto insurance company, that provides different kinds of insurance for automobile, motorcycle and personal umbrella insurance. Customer services are excellent and customers can purchase insurance service of their policy, all through the year through the 24-hours service. We believe that we deliver superior policy features, and also superior customer service at very competitive prices Towards the end of the year 2004, this group had an amount of $1.3 billion in the net premiums written, and $1.4 billion in assets, that totals $1.9 billion.

21st Century Insurance Story
The founder of 21st Century Insurance was Louis W.Foster, who founded the company in the year 1958, with the help of his experience of 20 years as an independent agent. An inter-insurance exchange is quite similar to a cooperative, where most of the policyholders try to insure the losses of the other policyholders. It was in the year 1968, a decision was made to convert the inter insurance exchange to the stock. It was the federal government who had minimized the tax for the advantages, and then the California Department of Insurance raised its capital and stock requirements. It was one of the most unique annals in the business of California. The profits that resulted on the use of this exchange were considered for measuring the amount of equity of the policy holders, where were entitled to the new company.$2 million were written on behalf of the company, in the year 1969, and $ 5 million was reached in the year 1972, and then $10 million in the year 1975.The company soon grew, and in a few years the company moved to Century City, in order to accommodate the ever increasing staff and number of policies. This was in the year 1980 that the company moved to its current headquarters, in Woodland hills. 21st Century Insurance has always seen its rapid growth, and expanded to many areas such as Arizonia, Washington, Georgia, Pennsylvania.Today the company is said to be employing more than 2500 employees and occupies a 11 storey headquarters building in Woodland Hills. The company also has 14 service offices, along with 9 drive in claim centers and 5 vehicle inspection centers.
 
it's funny how 21man never posted again...lmaooo...

i used to work for those clowns when they were simply 21st and just invaded texas...i basically used them to get my license back after it expired and left after that...

they wanted after 1month there, they wanted me to be a supervisor, but told me it wouldn't be an increase in pay...lol...i still laugh at that to this day...

management sucked and most got fired or demoted ...
 
21st Century is the direct (internet) consumer driven arm of Zarmers. It is the 1-800 version of Geico, but run by Farmers/Zurich. The only thing that matters to Zurich is sending insane profits overseas back to Zurich each year. They could care less about their customers. Give Zurich some time and they will screw up the rate structure of 21st just like they have to Farmers. Consumers don't realize that Farmers charges 20 to 40% more to its current customers (legacy book) than it does to its new business (New Farmers) and the agent can't retain his current renewals because the tenured customer can't be given the lower, new business rate. It makes for a very tenuous situation for its older agency force which built their large agencies on relationships with their customers, only to lose the long term client because of exorbitant rates. Thanks alot Zurich!
 
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