Sources: Company registration statement and IPO Edge Market & CompetitionĪccording to a 2019 market research report by IBIS World, the US automobile insurance industry is projected to reach $285 billion in 2019, representing a CAGR of 3.3% between 20, and the industry is expected to grow at a slightly higher annual rate of 3.6% between 20. Underwriting, acquisition and other expenses as a percentage of revenue have been increasing significantly in recent periods, per the table below: SAIG achieves brand awareness through advertising on national media, targeted digital presence as well as conducting local marketing campaigns. The company’s primary customer acquisition channels include its mobile apps in major app platforms, its website, call centers, and offices consequently, SAIG relies strongly on brand awareness. SAIG’s services are currently being offered in 17 states, namely the states of Ohio, Arizona, California, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas as well as Virginia.īelow is a brief overview video of the company’s latest marketing campaign:Īccording to Mobile App Metrics data from Apptopia, SAIG’s mobile applications have an estimated 20,156 monthly downloads on Google Play and iTunes, representing a 37% growth month-over-month. Davies, who has been with the firm since 2012 and was previously Senior Vice President, Product Operations at Allstate Insurance Company.Īdditionally, the company provides physical damage coverages and other ancillary coverages, including comprehensive, collision, roadside assistance, towing and accidental death coverage, where possible. Management is headed by President, CEO and Director Ronald H. The group’s wholly-owned subsidiaries include Safe Auto Insurance Company, Safe Auto Choice Insurance Company, Safe Auto Value Insurance Company, Safe Auto Group Agency, SA Services, AutoTex MGA, SafeAuto Realty. Company & TechnologyĬolumbus, Ohio-based SAIG was founded in 1993 to sell affordable, direct-to-consumer private insurances at states’ minimum financial responsibility limits through its mobile apps, website, and call centers. SAIG is pursuing a direct to consumer go-to-market model for younger demographic consumers. ![]() The firm provides state-minimum personal auto insurance services in 17 US states. IPO, according to an S-1 registration statement. Safe Auto Insurance Group ( SAIG) has filed to raise gross proceeds of up to $50 million from a U.S.
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