The Automobile Mutual Insurance Company of America, or Amica, is the oldest mutual insurer of automobiles in the US, a company owned by policyholders rather than stockholders. The first branch of Amica Mutual Insurance was opened in 1941 in Boston. There are 39 offices of Amica across the United States today.
A.T. Vigneron, a Rhode Island businessman anticipated that horseless carriages would revolutionize American society and he founded a small auto insurance company in Providence in 1907. As cars increased on the roads, his company progressed. His two basic principles were:-
•The firm would find out responsible policy holders
•It would treat them with respect by providing the best customer service possible. These would then recommend their friends and relatives.
Right from the beginning the companies’ mutual insurance created a different kind of workplace. The focus was on policyholders and their interests and not stockholders. New employees were quickly trained in the Amica way of providing efficient service. From the very first year, 1908, the policyholders have been receiving dividends which have continued to this date.
The company grew steadily and the need for broader insurance coverage became necessary. Factory Mutual Liability Insurance Company of America, a sister company, was formed in 1921. After working side by side for fifty years they merged in1973.
Amica has many companies today. Some of them are:
•Amica Life Insurance Company which was established in 1968. It offers Life Insurance and Annuity products and also makes available some health and specialty products. It does business in all the states of the US except in Hawaii.
•Amica Mutual Insurance Company , the parent company also offers Auto, Homeowners, Marine and excess liability insurance.
•Amica Lloyd’s of Texas is a wholly owned subsidiary of Amica which provides property insurance in Texas. It was formed in 1987, and before that the Texas property insurance was provided by Amica Mutual Insurance Company.
•Amica Property and Casualty Insurance Company . Established in 2005 it provides insurance in New Jersey.
•Amica General Agency . Formed in 1987 it was established to assist with special or unique insurance needs.
•Amica General Insurance Agency of California was started in 1995 and deals with insurance in California and Nevada.
Amica companies are financially sound and stable with a strong capital position. This company has been experiencing increasing assets, consistent growth and financial gains ever year. Its employees are committed to the solid foundation of the success: exceptional service to policyholders.
J D Power and Associates rank Amica as the ‘Highest in Customer Satisfaction’ among national auto insurers for eight years in a row and A M Best Company has rated Amica as Superior consistently. Consumer Reports has ranked it at the top for Auto and Homeowners insurance. Businessweek rated it among the top 25 ‘Customer Service Champs in 2007 and 2008.
In 1994 Amica’s corporate offices shifted from Providence, Rhode Island to a much larger place in nearby Lincoln. The company celebrated its 100th year in 2007.