2024 Orion180 Company Outlook
letter from ceo, ken gregg
Message To Partners
Ken Gregg
CEO - ORION180
“As we reflect on a remarkable 2023 and look ahead to the opportunities of 2024, I am thrilled to share some key highlights and our strategic vision for the coming year”
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“We are deeply aware that our achievements are not ours alone – they are shared with you, our valued agency partners.”
Dear valued agent partners,
“As we reflect on a remarkable 2023 and look ahead to the opportunities of 2024, I am thrilled to share some key highlights and our strategic vision for the coming year”
2023: A Year of Solid Growth and Achievement
In 2023, Orion180 made significant strides in underwriting homeowners insurance, marking a pivotal year in our journey. We successfully transitioned from a fronting relationship to our wholly owned subsidiaries, Orion180 Insurance Company and Orion180 Select Insurance Company, while achieving excellent underwriting results. I would like to express my sincere appreciation and gratitude towards all our agency partners for your continued loyalty and support for Orion180 through the transition.
Our financial performance was strong, with excellent underwriting results, including tremendous growth in direct written premiums and a low gross loss ratio. This continued growth illustrates the trust and confidence both our agency partners and insureds place in us. We have also expanded our talented team to over 150 employees and contractors, bringing in experts who share our vision of excellence across product, technology, and customer-centric service.
Reflecting on our journey through 2023, it fills me with immense pride to share that Orion180 has been distinguished as the Top Insurance Employer by Insurance Business America. This accolade is a testament to our vibrant culture and dedication to excellence, which we strive to uphold every day. Additionally, our relentless pursuit of growth and innovation has propelled us to an extraordinary milestone, securing the 229th spot on the 2023 Inc. 5000 list of America’s fastest-growing private companies, and placing us as the 3rd leading firm within the insurance sector.
Looking Ahead: Our 2024 Plan
As we step into 2024, our focus remains on profitable growth during this challenging property insurance market. We understand the complexities of the current environment and are poised to navigate them with our deep underwriting and operational expertise. Our plan includes:
Expanding Product Offering & Footprint
We aim to broaden our suite of insurance products, ensuring we meet the evolving needs of our agency partners like you and homeowner customers. During the first half of 2024, we will launch a collectibles product, home renovation coverage, and a private residential flood product. We will continue our Admitted HO3 expansion into the Midwest and western U.S., resulting in roughly ten new states in 2024. The private flood and collectibles products will be our two first national products.
Strengthening Agency Relationships
Our partners are at the heart of our success. We are committed to deepening these relationships, offering enhanced support and collaboration opportunities. Please reach out to your Territory Manager to consult on the best ways to increase your partnership with Orion180 and learn about our Change Agent program. Also, Accelerate24 will be another first-class event in an exciting location – I encourage you to find out the criteria to attend.
Enhancing Technology Capabilities
Our MY180 technology platform is a major differentiator and enables us to provide a world-class customer experience. We are investing heavily in broadening the platform’s features to provide an even better agency experience and more connectivity to our partners. If your agency would like to explore how we further integrate our technology platforms, please reach out to your Territory Manager.
Our Commitment to You
We are deeply aware that our achievements are not ours alone – they are shared with you, our valued agency partners. In 2024, we pledge to continue supporting you with the resources and tools you need to succeed in this dynamic market. If you have any recommendations or suggestions on how we can better support you, please do not hesitate to respond to this e-mail or contact your Territory Manager to let us know.
Thank you for your continued partnership and trust in Orion180.