Philadelphia Insurance named 5-Star Carrier

A Bala Cynwyd, Pennsylvania insurance company has just received one of the industry’s most prestigious awards for quality.

Insurance News

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A Bala Cynwyd, Pennsylvania insurance company has just received one of the industry’s most prestigious awards for quality.

Philadelphia Insurance Companies has earned industry publication Insurance Business America’s prestigious 5-Star Carrier rating for its excellence in four categories, including range of products offered, reputation and financial stability, competitive rates and underwriting expertise.

IBA’s 5-Star Carriers were chosen after an exhaustive survey in which the magazine asked insurance agents to, first, identify their priorities in choosing a carrier and, second, to rate their carriers based on their top 10 priorities.

“We didn’t award the 5-Star Carrier rating lightly,” said IBA senior journalist Caitlin Bronson. “It was a two-month process in which hundreds of agents nationwide evaluated more than 500 carriers, and believe me—they didn’t hold back.”

“Only a handful of carriers earned top marks in any of the 10 categories we examined.”

IBA rated carriers for their reputation and financial stability, pricing, claims handling, product range, quoting turnaround times, underwriting expertise, technology and automation capabilities, marketing support, education and training opportunities and commitment to the agent distribution channel.

“Philadelphia Insurance received exceptional ratings across the board, and insurance professionals are tough to impress,” Bronson said. “To be awarded a 5-star rating in even one category is a real honor; to qualify in four is a badge of excellence.”

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