Numerous Recognitions, New Corporate Office Signal Continued Growth
ATLANTA - February 28, 2011 – Access Insurance, a leading specialty auto insurance company, completed one of its most successful years since its founding in 1994. In 2010, the company received numerous awards and recognitions for its financial performance, relocated to a new corporate office to accommodate its continued growth and surpassed several business milestones over 2009. Those milestones included: increasing appointed independent producers by 15 percent; increasing policies in force by 39 percent; increasing market share by 9 percent; expanding coverage to two new states; and increasing revenue 25 percent.
“Despite the weak economy, 2010 was a banner year for us,” said Access CEO Michael McMenamin. “The key to our success has always been our ability to leverage our innovative technology practices across every element of the business to drive greater efficiencies. We combine this with extraordinary customer service, A-level talent and competitive products and tools. The result is that we’ve been able to grow our business while continuing to bring more services and greater benefits to our 370,000-plus policy holders and our strategic business partners.”
In November, Access relocated its headquarters within Atlanta to an office space nearly three times the size of its previous location to accommodate for its continued growth. The new space of 78,551 square feet houses more than 400 employees and brings together all of Access’s corporate functions, which had been spread out over several physical locations because of the company’s fast-moving growth. The new office houses accounting; claims; customer service; human resources; information technology; marketing; sales; and underwriting.
In addition, Access garnered six prestigious recognitions in 2010 for it various business achievements. Spanning the insurance industry, as well as local and national business media, they are:
IASA Award – In June, the Insurance Accounting & Systems Association named Access the winner of the 2010 Technology Achievement Award for the development of its Instant Access application. This innovative and proprietary program, which executes all the business rules and processes needed to provide a quote, bind and issue a policy, enables Access to achieve its three primary objectives of creating a strategic advantage, providing a superior customer experience and improving company financials.
InformationWeek 500 List – Now in its 23rd year, the InformationWeek 500 honors the nation's most innovative users of business technology by tracking the technology, strategies, investments and administrative practices of some of the best-known organizations in the country. In 2010, Access was listed as 98 to this prestigious list, which includes such well-known companies as Procter & Gamble Co., Hewlett-Packard Co. and FedEx Corp.
Inc. 500/5000 Fastest Growing Private Company List – For the fourth year since its founding, Access was named to this high-profile list, coming in at #758 with a three-year growth rate of 402 percent. This achievement placed the company 12th among all insurance companies and 21st among all companies in metro Atlanta. First introduced in 1982, the Inc. list ranks companies by overall revenue growth over a three-year period while also celebrating entrepreneurial success and innovative private companies in the U.S.
Atlanta Business Chronicle Fastest Growing Private Company List – In 2010, Access was ranked 10th among the fastest growing private companies in metro Atlanta by the Atlanta Business Chronicle. Access’s inclusion to the 2010 list marked the third time the company has made this list. Key criteria for making the list include achieving two-year growth in sales of more than 50 percent and garnering revenue between $1 million and $300 million in 2009.
Atlanta Business Chronicle Top 100 Private Companies List – In 2010, Access was ranked 38th among the top 100 private companies in metro Atlanta by the Atlanta Business Chronicle. Access’s inclusion to the 2010 list marked the third time the company has made this list. This list ranks companies by latest annual revenue. To qualify, companies must have its headquarters in the 20-county metro Atlanta area and not be a subsidiary of another company or a joint venture partnership.
Ernst & Young Entrepreneur of the Year Award – Access CEO Michael McMenamin was named one of seven winners for the 2010 Ernst & Young Entrepreneur of the Year award for the Southeast Region. With this achievement, McMenamin was a finalist for the national award. This highly prestigious award recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities.
About Access Insurance
Founded in 1994, Access Insurance is comprised of Access Insurance Holdings Inc., Access Insurance Company and 16 Managing General Agencies (MGAs). Access Insurance offers specialty property and casualty insurance programs through a carefully appointed and managed network of independent insurance agents. Access is licensed in 21 states, operates in 12 states and continues to expand its footprint into two strategic states per year. Leveraging technology and data mining methods, Access metrically manages programs to minimize risk and maximize profitability. Access is headquartered in Atlanta, Ga. For more information, visit www.accessgeneral.com.
Contacts:
Matt Spaulding
Spaulding Communications
404-270-1010
matts@spauldingcommunications.com
Kimberly Boudreaux
Access Insurance
770-220-6556
kboudreaux@accessgeneral.com
