The NIA Group LLC
Paramus, N.J.
Owner(s)/principal(s): 22
2006 personal lines premium: $84.4 million
No. of personal lines insurers: 25
Founded in 1925, The NIA Group operates 16 branch offices located throughout New Jersey, New York, Connecticut and Florida.
Mitch Silver, senior vice president, Personal Insurance, says NIA’s personal lines business has grown over the past five years by concentrating on the VIP/larger accounts segment. NIA also provides real-time comparative quotes for personal lines customers.
According to Silver, the most fulfilling aspect of the personal lines business is the satisfaction that comes from providing valuable financial protection for the assets of individuals and families. The least enjoyable aspect, he says, is the price competition from direct writers.
For homeowners insurance, the biggest challenge is the availability and affordability of insurance for properties located in coastal areas, Silver says. “For auto insurance, the continuity of carrier markets is a critical issue,” he adds. “There are auto carriers that are in and out of this marketplace and this has a destabilizing effect.”
When asked to name three keys to NIA’s success in personal lines, Silver said: outstanding personalized service, technology and location.
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