New Report: How Insurers Benefit from the Housing Rehabilitation Efforts of NeighborWorks Organizations [PDF, 2.39 MB]

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“To develop partnerships between the insurance industry and NeighborWorks organizations to better market the products and services of both, for the benefit of the customers and communities they serve.”

This is the mission of the NeighborWorks Insurance Alliance (NIA).

As an insurance company, you want:
• To mitigate risks and prevent losses
• Educated, more financially responsible policyholders and consumers
• Better safety in communities and homes
• Increased market penetration
• To invest in programs that make good business sense
• To fulfill social and corporate responsibilites

Teaming with NIA gives it all to you—and more.

Good Business Sense
Insurance companies have always been invaluable partners to the NeighborWorks system. NIA brings together insurers across the country with local NeighborWorks organizations through various risk mitigation and educational programs. Through these partnerships, both work to bring economic stability and investment to the communities they both serve:

1. Developing strategies, research and programs alongside NIA
2. Teaching insurance and home-safety workshops
3. Participating in educational efforts on topics such as home maintanence, insurance, and financial literacy
4. Training community development staff on insurance issues
5. Serving as board members of local NeighborWorks organizations
6. Placing additional agents in underserved markets
7. Volunteering and providing financial support for NeighborWorks Week and other community development activities
8. Providing financial support to local network organizations and to national NeighborWorks initiatives.

NIA partnerships provide obvious benefits to communities, enhancing the ability of residents to insure their homes. But they also benefit insurers. By lowering risk among consumers, they reduce losses, justify lower rates, result in more business written, and enhances market competition.

No wonder nine of the 10 leading writers of homeowners insurance are represented in the NIA today. As NIA expands its programs and services to communities, other leading product writers such as Life and Commercial lines writers are recognizing the business value in NeighborWorks.

Created from NITF
NIA was created from the National Insurance Task Force, which was convened in 1994 in response to concerns about the availability and affordability of homeowners insurance. Since inception, contributions to individual NeighborWorks organizations from insurers have almost tripled, validating recognition of the value of the partnership. The NIA is a perfect example of how the insurance industry and communities can work together to help improve life in neighborhoods all across America.

 

For more information, contact Dawn Greene at (202) 220-2338 or dgreene@nw.org.

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