Frankenmuth Insurance is introducing a new Personal Auto rating approach using rating factors derived from multivariate statistical techniques.  Multivariate rating ensures each insured is charged a premium consistent with his/her particular risk characteristics.  Over time, this rating method is predictive of a more profitable book of business for both your agency and our company. 

Program Highlights:

•  Effective May 1, 2015, all Personal Auto policies will be written and renewed into the new multivariate program.

•  Territory assignments will be based on zip code.

•  Discounts on printable applications, declarations pages, and policy downloads will no longer list the associated percentages and premium amounts.

•  Only minor changes to iBIS entry and output have been made.

Pay plan discounts are available for annual, semi-annual & quarterly direct bill, EFT, or continuous credit card (please note the new billing screen added to the quick entry mode).

What does this mean for you?

As with any significant class plan change, policyholder premium disruptions may occur.  While any disruption can be difficult to manage, we anticipate long-term benefits from obtaining the right price for a given risk. 

Your upcoming renewal reports have been modified to reflect these changes.  They are designed to help you stay ahead of renewals and to be prepared for certain policies which may experience a higher than expected renewal premium. 

We encourage you to quote Frankenmuth Insurance on all your new auto business and we appreciate your support.

Frequently asked Questions & Answers:

Please click the link below to open the FAQ document. 

https://www.fmins.com/agpages/publicdocs/FAQMultivariateRatingPA.pdf

If you have any questions, comments or concerns, please don’t hesitate to contact your Underwriter, Field Manager or me.